One Term Congressman Alan Grayson(D-FL), who lost by 18 points (yes!), distorts history and continues to be totally vile. Alan, don't let the House door hit you on the way out.
Grayson has a few things wrong (Shock! Horror!). "No job creation in the last nine years". Technically correct since he is picking from 2001-2010. An obvious slap at Bush (leaving out that Obama has been President since 2008).
What of the Bush years? The media trumpets that Bush sqandered the Clinton economy, and the Clinton years were fairly prosperous. Clinton also had the good fortune to inherit an economy that had been growing for seven straight quarters when he took office in 1993, and he had the Internet revolution. He also left office just as the Tech Bubble burst (73% of dot com wealth vaporized) triggering a recession right before Bush took office. Eight months into Bush's 1st term we had 9/11 which had a significant effect on the economy and jobs. So, many jobs from the Clinton years were now gone. At this point the Bush Presidency was in negative job growth. Bush then implemented a number of economic policies, including across-the-board tax cuts. These policies resulted, starting in 2003, into 52 months of job growth, with worker productivity rising at a 2.6 annual rate, compared to Clinton's 2.0. Those facts speak for themselves.
Unfortunately, at the end of Bush's 2nd term, the Housing Bubble burst, triggering another recession at the end of his Presidency. The collapse of the housing market created the financial crisis, which arguably, was the result of Fed interest rates being kept too low for too long, and Congressional legislation that promoted sub-prime lending practices within the financial industry, putting low income homebuyers into homes they would never be able to afford. As these million of people started to default, it created a worldwide financial crisis.
Overall, the average unemplyment rate during the Bush years, including bookend recessions, was 5.22%.
The bottom line is this: Alan Grayson and the Democrat Party can spin as much as they want. It doesn't take away the fact that tax cuts do stimulate the economy, and that raising taxes with 9.8% unemployment will push that number over 10%. In addition, as he is taking after Limbaugh and Beck for how much they are worth and how greedy they are, I think it is worth noting, for full disclosure, that Alan Grayson is the 12th Richiest Congressman, with a minimum net worth of $31.2 Million. Hypocrisy is not pretty.
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