Wednesday, December 12, 2007

"Bush Surging, not fading, as tenure's end nears", a column in TheHill.com by former Cheney deputy assistant and former special assistant to President Bush, Ron Christie. Mr. Christie lays out the case that President Bush's policies have reached fruition in the past few days. Here are some examples:
  1. Economic Growth
  • New data released last week showed that America added 94,000 jobs in November 2007 — capping a remarkable 51 straight months in which jobs have been created in our economy. Despite partisan claims that the economy is soft, more than 8.3 million jobs have been created since August 2003 and unemployment remains low (4.7 percent). America remains open for business.

Stem cells

  • the president’s resolve and strength to draw a moral boundary line to protect innocent unborn life has been vindicated. scientists announced last week they could produce an embryo-free way to produce genetically matched stem cells. OR
  • the president’s decision to draw a bright moral line against destroying human life while providing federal dollars for the first time to stimulate stem cell research has proven successful. The silence in the media about this remarkable development has been deafening.

Iraq

  • the central government of Iraq has reached its 2007 budget revenue target of $30.2 billion,derived mostly from oil revenues.
  • Lt. General Ray Odierno has reported that the has been a 23-week decline — nearly six months — in insurgent deaths and attacks upon Iraqi civilians.
  • In Mosul, the airport opened for the first time in 14 years for commercial aviation flights. In a region of the country long associated with violence, Iraqi Airlines is now open for business
"Political stability long thought to be an elusive dream is becoming a daily reality across Iraq.From the surge in Iraq, vindication with his stem cell position and strong economic development on the home front, President George W. Bush has hit his stride and is surging rather than limping into his last year in office. For those who have counted him out, the president remains resolute, perhaps comfortable in the knowledge that history, rather than bitter partisans in Washington, will favorably reflect on his two terms in office for waging an effective war against terrorism while demonstrating capable stewardship and remarkable domestic accomplishments during a time of war."
I would add that President Bush's newly found veto pen has given the Republican party an opportunity to become the budget hawks they used to be. He has only used it 7 times in as many years. Today, he vetoed the latest S-CHIP bill for the following reasons:
"This bill does not put poor children first, and it moves our country's health care system in the wrong direction," Bush's statement said. "Ultimately, our nation's goal should be to move children who have no health insurance to private coverage, not to move children who already have private health insurance to government coverage."

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Tuesday, November 20, 2007

A Growing Economy Has Boosted Tax Receipts & Cut The Deficit.

Those aren't my words but the words from a White House Press Release from October 11. Among the facts from the OMB and Treasury are:
  • the deficit declined by $250 billion in the past 3 years.
  • In February the Federal budget deficit for 2007 was projected to be $244 billion. Today's numbers show that the actual budget deficit is now just $163 billion.
  • As a percentage of the economy (1.2%), the deficit is now lower than the average of the last forty years.
  • This year tax revenues grew by $161 billion to reach $2.568 trillion, the highest level of Federal revenues ever recorded. That's an increase of 6.7 percent. And it builds on the 14.5 percent and 11.8 percent increase in revenues during the last two years.

Hint: projections are done years in advance are almost never accurate. It is heartening to see them moving in the right direction. Once again, the tax cuts are working. The White House is promoting the fact that tax relief plus spending restraint promotes economic growth. Only took them 7 years to figure that out.

  • The U.S. economy is in its 6th year of sustained growth
  • Since August 2003, the economy has added more than 8 million new jobs for 49 straight months of growth.
  • The national unemployment rate is at 4.7 percent, low by historical standards.

This press release is from early October and if you read between the lines it's easy to see that the WH was already preparing for a budget battle over entitlement spending by Congress.


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