Bush years and the same mistakes.

  1. Josak profile image59
    Josakposted 5 years ago

    Real GDP growth under Bush was an average of about 2.9% including the vast majority of his time before the crisis, in the last three years growth has been about 2.16% averaged out but there is a significant problem here. The Bush years were marked by the housing bubble which created increased consumption, but of course it was not sustainable and caused the crash. If we subtract home equity extraction experts like Niall Ferguson estimate average growth for the Bush years was about 1%.

    Bush made tax cuts, Bush encouraged business for the trickle down effect with those unfunded tax cuts and yet growth was negligible and sustainable growth was much lower than it is no AFTER a crisis, my question to conservatives is given the complete failure of those tax cuts to create growth why do you imagine that the same policies will work now? Also why is growth effectively better now than during the Bush years?