July 10, 2006 - House Republicans Celebrate the "Bush Economic Boom"

[Median Democrat]

Another surreal CPAC moment as Republicans try to distance themselves from George Bush. In the midst of the 2006 campaign, here is Boehner celebrating the "Bush Economic Boom."

http://republicanleader.house.gov/news/DocumentSingle.aspx?DocumentID=50219

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BUSH ECONOMIC BOOM: TAX CUTS FUELING DEFICIT REDUCTION

Washington, Jul 10, 2006 - Because of surging tax revenues, the Treasury Department projects that President Bush’s objective of cutting the deficit in half by 2009 will be met and exceeded ahead of schedule. An article in the New York Times says:


“On Tuesday, White House officials are expected to announce that the tax receipts will be about $250 billion above last year's levels and that the deficit will be about $100 billion less than what they projected six months ago. …


“Tax revenues are climbing twice as fast as the administration predicted in February, so fast that the budget deficit could actually decline this year.”


What’s fueling the growth of revenues and the economy? Simple answer: tax relief:


“Republicans are already arguing that the revenue jump proves that their tax cuts, especially the 2003 tax cut on stock dividends, would spur the economy and ultimately increase revenues.


“’The tax relief we delivered has helped unleash the entrepreneurial spirit of America and kept our economy the envy of the world,’ President Bush said in his weekly radio address on Saturday.”


Here are some facts on the Bush Economic Boom and the 34 consecutive months of solid job and economic growth.


In June, the U.S. economy created 121,000 new jobs and maintained a low 4.6 percent unemployment rate.

Republican stewardship of the U.S. economy has resulted in 5.4 million new jobs since August 2003, 34 consecutive months of sustained job creation, and a low 4.6 percent unemployment rate.

GDP growth for the first quarter was 5.6 percent – even stronger than expected and the fastest growth in two-and-half years.

There is a clear choice between House Republicans who want to keep taxes low and the economy moving forward, and Capitol Hill Democrats who want to bust the budget and raid taxpayers’ wallets.

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