Obama: Take A Walk On The Supply Side

Talk about ditching the political liabilities on the far left, Obama has embraced the supply side economics theory. Read on...

Check out the remarks made by President Obama in Meeting with the President’s Export Council today (12/9/10):

"...The bipartisan framework that we’ve forged on taxes will not only protect working Americans from seeing a major tax increase on January 1st; it will provide businesses incentives to invest, grow and hire. And every economist that I’ve talked to or that I’ve read over the last couple of days acknowledges that this agreement would boost economic growth in the coming years and has the potential to create millions of jobs. The average American family will start 2011 knowing that there will be more money to pay the bills each month, more money to pay for tuition, more money to raise their children.

But if this framework fails, the reverse is true. Americans would see it in smaller paychecks that would have the effect of fewer jobs.

So as we meet here today to talk about one important facet of our economic strategy for the future, I urge members of Congress to move forward on this essential priority.

Now, the top priority of my administration since I took office has been to get the American people back on their feet and back on the job in the aftermath of the most devastating recession in our lifetime. That’s job one. But as I said in greater detail on Monday, we’ve also got to ask ourselves how do we position our economy to be strong, growing and competitive in the long run..."

What did Bush and Reagan do? Cut taxes and increase spending, i.e., suppy side economics.


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