The combined effects of recession and national emergency could have been devastating for America's economy. Yet President Bush's tax cuts--following through on a promise he had made to the voters--resulted in a shallower recession, a faster recovery, and a platform for growth that remains sturdy to this day. The fact is that in a time of unprecedented challenge, the United States has experienced nearly six years of uninterrupted economic growth and added more than eight million new jobs since August 2003--more than all other major industrialized nations combined.
The economic growth encouraged by the president's tax cuts is now producing sharply increased federal tax receipts--up by nearly 15% in fiscal year 2005 alone, nearly 12% in fiscal year 2006, and projected to rise nearly 7% in the fiscal year that will end this month. That is the highest growth in tax receipts in consecutive years since 1981.
2007-09-19
09:56:21
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Other - Politics & Government