One more thing about the content of the speech Bush gave today: it was bullshit. (Big surprise, I know)
It went something like this:
When I came into office in 2001, our nation was headed into a recession. So we cut the taxes across the board. And hardworking Americans have used this tax relief to produce strong and lasting economic growth
Inflation is low. Unemployment is low. Real after-tax income has grown by an average of more than $3,400 per person since I took office. The American economy is the envy of the world.
I’m no economist- but I am a hard working American who lived in Europe from 1998 until 2000. And back then, the world DID envy the US- because the American dollar had so much buying power.
And I while I can’t rattle off a series of statistics about the US economy and discuss the magic power of tax cuts I can tell you one thing: my money was worth A LOT more back then. Twice as much, actually.
But not any more.
The US dollar declined 53.1% vs. the Euro during 2001-2007, and also down against many others incl. 31.7% vs. the Canadian dollar… for every 100 thousand dollars of a citizen’s assets the international buying power dropped $53,000 since 2001 vs. the Euro.
Categories2018 Activism Budget Civil Rights Congressional Races Economy ECOT Education Environment Fair Elections Federal Governor's Race Governor DeWine Guns Health ICYMI Justice Labor LGBT Ohio Legislature Plunderbund Plunderbund Action Portman Safety Senate Race State State Government Statehouse Races Statehouse Races Swing State Voices Taxes and Spending Trump Women's Rights