Bush team theme -- 'We were all wrong'

Nathaniel Frank

Thursday, March 24, 2005

When Fed chief Alan Greenspan acknowledged last week that he'd been wrong to expect tax cuts to produce budget surpluses, he cast his mistake as part of a collective, unavoidable error. "It turns out that we were all wrong, " he told the Senate Special Committee on Aging. It was not just the belief of the Fed and the tax-hating Republicans, but "an almost universal expectation amongst experts" that cutting taxes for the wealthy would generate more government revenue.

His remarks were an extraordinary echo of the famous mea culpa of President Bush's former top weapons inspector, David Kay. Announcing his conclusion that no weapons of mass destruction were found in Iraq, Kay had emphasized that it wasn't just American inspectors and the White House, but the entire Western intelligence community that had misread Saddam Hussein's weapons capabilities. "It turns out, we were almost all wrong," he declared.

The parroting doesn't stop there. Responding to Kay's revelations of mass error, Bush was unrepentant. "Knowing what I know today," he said, "I would have made the same decision." Greenspan, taking his compunction lessons from the White House, followed suit with his remarks on tax cuts: "If confronted with the same evidence we had back then, I would recommend exactly what I recommended then."

The implication is that, each time, there was only one rational course of action and the Bush administration has always taken it. But in both cases, of course, others looked at the same evidence and proposed a different action -- including Sen. Hillary Clinton, D-N.Y., who shot back to Greenspan's astonishing evasion of blame with: "We were not all wrong, but many people were wrong."

http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2005/03/24/EDG07BTSJB1.DTL

It's like that with Junior. Except Junior isn't cool by any stretch of the imagination.

We? Speak for the right-wing nazis only. There were millions of people that thought the tax cuts would ruin the economy.

except for the millions of us who have been fighting this nonsense for 25 years, all the way back to the 1980 election when *'s daddy called it 'voodoo economics', and when it was tried anyway, at that time, it failed miserably, and the failure was witnessed by the entire world.

But we were all wrong.

YOU were wrong. People that know economics and people than know the history of supply side economics knew this was self-serving, stupid, naive, ill-thought out and DOOMED TO FAIL. I'll be screaming I told you so from the rooftops now.

...after $2.5 trillion being added to the national government debt, after trillions of dollars lost to the economy, after millions of business and personal bankruptcies and after hundreds of thousands of lives disrupted from job losses and economic turmoil caused by policy miscalculations and financial fraud, our federal reserve chairman finally admits that he made a mistake!

Sorry, but I don't buy that explanation. Mr. Greenspan is a stooge for the republican neo-conservative and military cabal which deliberately engineered the recession, withheld the proper economic stimulus which would have set the U.S. economy back on course and allowed the wealthy to handsomely profit from the false policies of deficit spending, tax cuts and supply side economics. These bastards all need to be impeached!

Greenspan: "an almost universal expectation amongst experts"

Experts: "Ten Nobel laureates, joined by more than 450 other economists from all over the country, cautioned that the tax cut plan proposed by the Bush administration will not only fail to help the economy in the short run,but will also weaken it over the longer term by deepening projected deficits."

http://salt.claretianpubs.org/sjnews/2003/03/sjn0303b.html

Not ALL of us were wrong, she said to him pointedley.

Good for Hillary.

because there were plenty of people who warned of what would happen.

"Your ideological underpinning is showing"

neener neener neener

"We?" Sure.

When Laffer started trying to sell his curve, only 11 other members of the AEA stood with him. 12 out of 18000.

Can I ask this one more time?

WHAT THE FUCK?

has seemed to understand that supply side economics is a HOAX.

is what happens when listening to only one point of view on any issue...their own.

Guess this is their way of saying they were wrong without actually saying it. The dumbed down won't understand the truth of the statement and will still be able to continue blaming Clinton for everything that goes wrong in the world.