This writer for the past 9 years has written commentary showing how precedent can be used to judge what administrations are best at governing concerning the economy, job creation, balancing the federal budget, creating surpluses, lower unemployment, lower deficit spending, keeping America safe, lower increases in the national debt, overall reduction in spending and precedent and facts tells us it is the democratic party. But one never hears that from the republicans or the news media in general or the financial sector.
Now comes Mr. Sam Stovall, Chief Investment Strategist for the research firm CFRA who reports that every republican President since Teddy Roosevelt (yes you read that right) has experienced a recession in his first two years in office. And that 9 of the past 10 recessions in history have begun with a republican in the White House and that republican Presidents Eisenhower, Nixon and George W. Bush have presided over multiple economic contractions. Of course the readers of PolitiDose have known democratic administrations have managed the economy much better than republican administrations and over a long period of time and it was read right here first in PolitiDose long ago.
The news media and republicans have been able to convince a good share of voters that it is republican administrations that handle the economy best and facts don't seem to be the news medias interest on the subject matter. They know the failures of Reagan and Bush's trickle down economics tax cuts but still pushed the Trump-GOP's recent tax cut scheme without real comments about the republican party's past sad record on the economy and tax cuts.
Mr. Stovall's comments are a little late but welcome and better late than never with the facts. PolitiDose will continue to bring the facts to the people to balance the lack of good reporting by the news media in general, the fake news that comes out of the republican party and the financial industry. And it should be worthwhile to repeat again in PolitiDose what Mr. Stovall failed to report that goes along with the republican party's sad record. The three worst bank failures took place on the watch of Herbert Hoover, Ronald Reagan and George W. Bush. And like the economic failures that took place on the republican watch alluded to by Mr. Stovall were not just a coincident.
Those who are willing to accept the facts will not be surprised if the country goes into another recession on Donald Trump's watch.
This commentary written by Joe Lorio
Monday, February 12, 2018
U. S. Senator Rand Paul: Another Republican Ditto Head Hypocrite.
The so called conservative who represents Kentucky held up the Senate budget vote this past Friday which shut the government down a few hours before he voted no on the bill. His peeve was an increase in domestic spending without spending cuts. He then went on a rhetoric rampage for TV criticizing both republicans and democrats because the budget bill added to the federal deficit and he said conservatives are against deficit spending.
The ditto head hypocrite failed to mention that Trump and the GOP's tax cut scheme that he himself voted for will add $1.5 trillion to deficit spending because the tax cut does not pay for itself with offsets. And that $1.5 trillion in deficit spending he voted for is over 3 times larger than the short fall in the budget he opposed on Friday. He then made the claim the federal government will be going back to the deficits of the Obama administration. Actually Paul got that wrong also because deficit spending went down on Obama's watch year to year compared to the deficits of the Bush 43 administration which still holds the single year deficit record of $1.4 trillion which took place in Bush's last fiscal year. By contrast, the federal deficit at the end of Obama's last fiscal year was $666 billion. That is a big difference than what he inherited from Bush.
Of course the big kicker for Paul and the GOP is what this writer has said for years. They really are not fiscal conservatives. No republican President has balanced the federal budget since Eisenhower in 1960 and no republican President in the last 50 plus years has left office with a smaller deficit than when he took office. But democratic Presidents have and Obama was the last to do so. In other words there is no record of precedent in the past 50 years that can justify republicans as fiscal conservatives.
Fiscal conservative republicans? The truth in fact is that they do not exist including Paul. And Donald Trump who complains about the National Debt and deficit spending has already joined the republicans parade.
This commentary written by Joe Lorio
The ditto head hypocrite failed to mention that Trump and the GOP's tax cut scheme that he himself voted for will add $1.5 trillion to deficit spending because the tax cut does not pay for itself with offsets. And that $1.5 trillion in deficit spending he voted for is over 3 times larger than the short fall in the budget he opposed on Friday. He then made the claim the federal government will be going back to the deficits of the Obama administration. Actually Paul got that wrong also because deficit spending went down on Obama's watch year to year compared to the deficits of the Bush 43 administration which still holds the single year deficit record of $1.4 trillion which took place in Bush's last fiscal year. By contrast, the federal deficit at the end of Obama's last fiscal year was $666 billion. That is a big difference than what he inherited from Bush.
Of course the big kicker for Paul and the GOP is what this writer has said for years. They really are not fiscal conservatives. No republican President has balanced the federal budget since Eisenhower in 1960 and no republican President in the last 50 plus years has left office with a smaller deficit than when he took office. But democratic Presidents have and Obama was the last to do so. In other words there is no record of precedent in the past 50 years that can justify republicans as fiscal conservatives.
Fiscal conservative republicans? The truth in fact is that they do not exist including Paul. And Donald Trump who complains about the National Debt and deficit spending has already joined the republicans parade.
This commentary written by Joe Lorio
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