Sunday, May 14, 2006

US - Americans better off under Republicans

That's according to the Wall Street Journal.

If ever there was a market test of economic policy, the last three years have been it. The stock market has recovered from its implosion in Bill Clinton's last year in office, unemployment is down to 4.7%, and growth has averaged 3.9% in the three years since those tax cuts passed--well above the post-World War II average and more than twice the growth rate in Euroland.

Yes, gas prices are high and interest rates are rising, which helps to explain the anxiety felt by some of the public. But these headwinds are all the more reason to be impressed by the economy's ability to push ahead nonetheless. We'd have thought that the Democrats who are now voting to let taxes increase would be thrilled to know that things turned out better than they had feared. Americans are better off despite Democratic predictions that, as Minority Leader Nancy Pelosi put it back in 2003, tax cuts would "damage long-term economic growth."


Democrats, wrong as usual.
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