Our two political parties have different approaches to helping the economy. Republicans believe if you give tax cuts to the rich and deregulate everything, these rich people will create jobs. How did this work under President Bush? The tax cuts doubled the deficit. Deregulation caused a housing bubble that almost put the entire world in a second Great Depression. The net number of jobs created was 2 million (compared to 22 million under President Clinton). And these were government jobs. When Republicans talk about a “jobs bill,” they mean more tax cuts and deregulation. President Bush proved this doesn’t work.
Democrats believe government must take an active role in job creation. Under President Obama, jobs have increased and over 8 million jobs have been created. The stock market has more than doubled (it dropped under President Bush). A proposed Democrat jobs bill would borrow money at 2.5 percent and use the money to fix our infrastructure. This would create jobs (i.e., new taxpayers) and that should increase new revenues by more than 10 percent. A great investment! The deficit would decrease!
Why trust Republicans?
Bob Gould, Groveland