Friday, July 16, 2010
In 2001 George W. Bush Squanders Budget Surplus
The Cause and Effects of the George W. Bush Squandering the Budget Surplus that the Bill Clinton administration left him with.
In 2001 the George W. Bush pushed through one of the largest tax cuts in U.S. history. Bush argued that unspent government funds should be returned to taxpayers, saying "the surplus is not the government’s money. The surplus is the people’s money." With reports of the threat of recession from the Federal Reserve Chairman, Alan Greenspan, Bush argued that such a tax cut would stimulate the economy and create jobs. Others, including the Treasury Secretary at the time Paul O’Neill, were opposed to some of the tax cuts on the basis that they would contribute to budget deficits and undermine Social Security. (What a great prediction that came true. Who Knew?!?!?)
Below is Engineer of Knowledge’s 2010 evaluation of this action.
George W. Bush’s “Economic Stimulus” Plan
Q. What was an “Economic Stimulus” payment?
A. It is money that the federal government sent to taxpayers.
Q. Where did the government get this money?
A. From taxpayers.
Q. So the George W. Bush government gave back your own money?
A. Only a smidgen of it, Vice President Dick Cheney got the rest.
Q. What was the purpose of this payment?
A. The plan was for you to use the money to purchase a high definition TV sets, thus stimulating the economy.
Q. But isn't that stimulating the economy of China?
A. Shut up Smart Ass.
Below was the George W. Bush’s helpful advice on how to best help the U.S. economy by spending the stimulus check wisely:
* If you spent the stimulus money at Wal-Mart, the money went to China or Sri Lanka .
* If you spent it on gasoline, your money went to the Arabs.
* If you purchased a computer, it went to India , Taiwan or China .
* If you purchased fruit and vegetables, it went to Mexico , Honduras and Guatemala .
* If you bought an efficient car, it went to Japan or Korea .
* If you purchased useless stuff, it went to Taiwan .
* If you paid your credit cards off, or bought stock, it went to management bonuses where they would just hide it offshore.
Instead, you could have kept the money in America by:
1) Spending it at yard sales.
2) Going to ball games, preferably the Texas Rangers
3) Spending it on prostitutes like Bush did in his drunken, cocaine youth.
4) Beer….Lots and Lots of Beer like Bush did as a drunk!!
(These are the only American businesses still operating in the U.S.)
If you went to a ball game with a tattooed prostitute that you met at a yard sale and drank beer all day, you were a True Patriotic American….Just like President George W. Bush!