The Wall Street Journal is reporting that Gap, Inc. will be closing 21% of it’s stores in North America due to struggles in the United States as profits fell by 19%.
In response to a voter’s question in August of 2009, President Obama said:
Normally, you don’t raise taxes in a recession, which is why we haven’t and why we’ve instead cut taxes. So I guess what I’d say to Scott is – his economics are right. You don’t raise taxes in a recession. We haven’t raised taxes in a recession.
Oddly enough, conservatives are still shying away from indignant liberal cries: “Where are the jobs?” when they attempt to underscore the success of the Bush Tax Cuts including raising revenue to the Treasury 785B by 2007, adding 8 million jobs to the economy, and increasing the median household wealth by more than $20K.
But what about the Lamestream Media who constantly allows the White House and Democrats in Congress to escape their drunken spending spree which took place in the last three years including the failed stimulus and the ObamaCare travesty? “Where are the jobs?” Trillions of dollars of feckless spending, unemployment did go above 8%, and revenues to the treasury are at historic lows. Yet, Obama, Pelosi, and Reid are allowed to escape on their loose versions of a series of “what-ifs?”
Can you imagine what would have happened if we weren’t allowed to fecklessly spend trillions of dollars in historic amounts of time? If you thought unemployment was bad now, you wouldn’t believe what it would have been if we hadn’t printed billions of valueless paper and created a few temporary Census jobs!
Listening to the House today during the debt-ceiling debates made me ill. After it being crystal clear, not only proven by President Bush but also by President Reagan, that tax cuts and deregulation creates millions of jobs, liberals are still allowed to deny the benefit of the doubt to tax cuts but get to hand it over no- questions-asked to excuse the most unbelievable spending ever in the history of our government.
This is common sense. This is what we must continue to remember as our party heads into the 2012 battle for the White House and the Senate.
America is broke. We need politicians who are going to respect Americans by being honest with them. Clearly, the accounting tricks, gimmicks, and experiments of the left are not prepared to do that.