A few more things Rush won't talk about

"It's the economy, stupid"
-James "the ragin cajun" Carville

John McCain and the Republicans tried to scare voters this past election cycle with the inanity of "Joe the plumber" and the idea that Obama would raise your taxes. In fact, I was told by one Republican to "watch my wallet" if Obama gets elected. The Repubs put on the same old broken record of "tax and spend" charges against Obama that they used against Clinton in the early 90's. I have always been fascinated by the economy and the economic ideas that are formed, shaped and crafted in the white house. So, I thought it would be fun to go back and look at what Republicans said in early 93 before Clinton's budget passed, by two votes. As we all know, the 90's were the greatest economic expansion in our nations history, so I thought it would be fun to look at a few predictions.
The Republicans predictably attack Clinton's budget before it was passed in early 1993. Take a look at some of these predictions: (they are a couple of doozeys!)

"The Clinton plan is a tax and spend old Democratic approach."
-Trent Lott
"This is a cradle-to-grave government paid for by cradle-to-grave taxes."
-Phil Gramm
"When you hear a Democrat call for taxes, do not ask for whom the taxes rises. It will rise for you."
-Bob Michel

Newt Gingrich said Clinton's economic plan will "kill jobs and increase the deficit" and Phil Gramm called it "a one-way ticket to recession" while John Kasich said it would "put the economy in the gutter." So what did all these Republican "visionaries" get right? Absolutely nothing. As always here are the facts:

1. After the 1993 tax increase on the top 1.5 percent of Americans, upper income households saw their annual AFTER-TAX incomes go up by $188,000 over the next four years.
2. In the eight years between 93-01 the GDP increased by a staggering 54 percent.
3. Unemployment dropped from 7.5 percent in 93 to 4.2 percent in 01, a thirty-year low.
4. Twenty million new jobs created.
5. The lowest inflation at 1.9 percent, in thirty years.
6. The dow jones industrial average increased 225 percent.
7. In May of 98, noted Republican Alan Greenspan, said "this is the best economy I have seen in fifty years of studying it every day."

So, when Republicans tell you to watch your wallet, you should, because it will be full of money under the upcoming Obama administration. Don't you love predictions?