White House Data Debunk Myth Bush Cuts Built Deficit

[Geee]

Investors Business Daily:

While President Obama insists the Bush tax cuts caused the recession and record deficits, his own economists say otherwise.

He might want to consult their data for the truth.

Kicking off fiscal cliff negotiations last month, Obama said: "What I'm not going to do is extend Bush tax cuts for the wealthiest 2% that we can't afford and, according to economists, will have the least positive impact on our economy."

During the White House press conference, he added, "If we're going to be serious about deficit reduction, we've got to do it in a balanced way."

Obama argued voters made it clear in the election that they don't want to go back to Republican policies that "cost" the Treasury revenues and "blew up the deficit," as he told them repeatedly during the campaign.