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The Only Investment Guide You'll Ever Need

"So full of tips and angles that only a booby or a billionaire could not benefit."
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Andrew Tobias

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The President is doing exactly what he should, setting us on a hopeful long-term path with . . .

 

·        an energy direction that will make us more efficient, more competitive, more prosperous, more secure, lower our balance of trade deficit and help to keep our planet habitable

 

·        a health care direction that will make us more efficient, more competitive, more prosperous, and help to keep us healthier

 

·        an education direction that will give our kids, and thus our country, the competitive skills to prosper in a global economy

 

. . . and accelerating embryonic stem cell research, and lifting the global gag order, and signing the Lilly Ledbetter Fair Pay Act, and treating with respect those who disagree with these and other initiatives.

 

The Republicans are quite sure the President’s approach is a disaster.  But how is that any different from the last go-round?

 

It was “the economy, Stupid” in 1992.  And again – only worse – in 2008.

 

An outgoing George Bush each time . . . and in incoming Democrat whose first budget received nearly unanimous Republican scorn.

 

Clinton’s first budget got not a single Republican vote in the House or the Senate – not one – and met with supremely confident Republican predictions of failure.

 

Thanks to Peter Stolz for collecting some of them:

 

Rep. Dick Armey (R-TX), CNN, 8/2/93:
Clearly this is a job killer in the short run.  The revenues forecast for this budget will not materialize; the costs of this budget will be greater than what is forecast.  The deficit will be worse, and it is not a good omen for the American economy.

 

[Nope – this budget set the nation on a course toward job growth, deficit reduction, and unprecedented prosperity.]


Rep. Newt Gingrich (R-GA), GOP Press Conference, House TV Gallery, 8/5/93:

I believe this will lead to a recession next year.  This is the Democrat machine's recession, and each one of them will be held personally accountable.

 

[Nope, no recession – recovery.]

 

Rep. Deborah Pryce (R-OH), 5/27/93:
The votes we will take today will not be soon forgotten by the American voter.  (They) will lead to more taxes, higher inflation, and slower economic growth.


[Nope – lower inflation, faster growth.]

 

Rep. Jim Bunning (R-KY), 8/5/93:
It will not cut the deficit.  It will not create jobs.  And it will not cut spending.

 

[Nope – it did create jobs, did cut the deficit.]

 

Rep. Robert Michel (R-IL), Los Angeles Times, 5/28/93:
They will remember who let loose this deadly virus into our economic bloodstream.

 

[Really?]

Rep. John Kasich (R-OH), CNN, 7/28/93:
This plan will not work. If it was to work, then I'd have to become a Democrat...


[It worked.  Kasich remained a Republican.]

Rep. Robert Dornan (R-CA), 8/5/93:
The problem with our economy is that there is too little employment and too little growth. This plan will do nothing to improve that condition and will actually make it worse.


[Nope – just the opposite.]

Rep. Christopher Cox (R-CA), 5/27/93:
This is really the Dr. Kevorkian plan for our economy.


[Nope.]

Rep. Thomas Ewing (R-IL), 8/5/93:
...This bill is a disaster waiting to happen.


[Nope.]

Rep. Jim Ramstad (R-MN), 3/17/93:
...will stifle economic growth, destroy jobs, reduce revenues, and increase the deficit.


[Nope.]

Rep. Phil Crane (R-IL), 3/18/93:
...a recipe for economic and fiscal disaster.


[Nope.]

Rep. Clifford Stearns (R-FL), 3/17/93:
...It will be the kind of impact that this country can't absorb. It will slow economic growth, contribute to the massive federal deficit....


[Nope.]

Rep. Joel Hefley (R-CO), 8/4/93:
...It will raise your taxes, increase the deficit, and kill over one million jobs.


[Nope.]

 

PeterStolz:  “The Republicans’ dire predictions were completely and totally wrong then just as they are now.  Today’s predictions are those of a party that drags out the same old mantra and dogma no matter how many times their predictions prove to be the exact opposite of what actually happened.”

 

☞  Hear, hear.  Pass it on.

 

Tomorrow, which you can read today: From the Mind of Less

 

 

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