White House candidate Tim Pawlenty on Tuesday unveiled a plan he said would supercharge the economy and accused president Barack Obama of championing "class warfare".
Reuters via Yahoo!
To which I have to say, SHUT UP!
I could publish the graphs myself, but Avenging Angel wrote a fine diary about the utter and abysmal failure of the Bush Tax Cuts.
Pawlenty also called for elimination of "all federal regulations" that Congress does not vote specifically to retain, and said he supports a constitutional amendment to balance the budget and a cap on federal spending at about 18 percent of GDP.
Economists, however, said that while a U.S. growth rate of 5 percent may be achieved at the height of an economic boom -- it reached 7.2 percent in 1984 and 4.8 percent in 1999 -- it is not sustainable in the long term and likely to spark inflation.
Most put the U.S. long-term growth potential in the 2-3 percent range, while a 5 percent growth rate is associated more with emerging markets.
More magical thinking, a.k.a. either stupidity or dishonesty. And federal spending capped at 18% of GDP? 18% was pulled right out of his pasty pale ass because Mitt Romney said 20%.
And the gutting of regulations will NOT help our long term economic growth. Businesses don't flourish when their competitors are racing to the bottom to cut safety, ignore pollution, and cheat customers while lying to investors.
This is one of their serious competitors? This is a guy who might take Obama's job?
I weep for this nation.