You probably remember well when Bill Clinton and the Democrats passed the largest single tax increase in our nation's history in 1993, $293 billion. That sent our nation into an economic slump.
President Bush:
If they get control of the House of Representatives, they'll raise your taxes, it will hurt our economy, and that's why we're not going to let them get control of the House of Representatives...
The Democrats have made their position clear... I want you to remember the last time they had control of the United States Congress back in 1993, they passed a massive tax increase.
You want us to remember the scary Dem Congress from '93, Mr President?
Okay.
In 1994, the year after Congress passed its "massive" tax increase, FOUR MILLION net jobs were created. (3 million total net jobs have been created during George W Bush's 5.75 years.)
Government spending SHRANK as a % of GDP when the Dems had control of Congress back in 93 and 94. (It has risen markedly under George W. Bush and his GOP Congress. More here.)
The deficit shrank.
The Stock Market rose.
It was a "Goldi-locks economy". Not too hot, not too cold.
---
Tax cuts mean nothing if you're not prepared to control spending also. They are simply a means of borrowing from the next generation.
So, yes, by all means "remember 1993". It was at the dawn of one of the greatest economic expansions in human history, yet all the supply side voodooists were predicting impending economic ruin. They were all wrong then, and they CONTINUE to be all wrong today. Senators like Ricky Santorum are craven enough to lie about recent history in an effort to scare voters.
In ten years, I wonder how the GOP's 2006 Congress will be remembered... fondly, I'm sure.
