(Many thanks to my friend Dan Clifton over at the American Shareholders Association for painting such a clear economic picture here…)
’None of these tax cuts is affordable. None of them creates jobs, and they are not fair. All of them do damage to our long-term economic growth and contribute to the national deficit.’ -House Minority Leader Nancy Pelosi (D-CA); May 09, 2003
Fact: 6.6 Million New Jobs
Fact: Unemployment Rate Drops From 6.3 Percent to 4.6 Percent
Fact: Unemployment Rate Dropping Faster Than CBO Expected
Fact: GDP Soars Following Tax Cut
Fact: Total Household Net Worth Has Increased by $14.4 Trillion Since the Tax Cut
Fact: The Deficit Has Declined $208 Billion Since April 2004 and $60 Billion Since the Tax Cut Was Signed Into Law
Ladies and gentlemen, it is still the greatest story never told…