Bob McDonnell: Bush-o-Nomics is the Way to Go!

An instant classic, courtesy of Bob "Bush-o-Nomics" McDonnell at Boys State (Lynchburg, 6/26/09).

Many of you probably remember after 9/11 we did something to stimulate the economy then too. You know what we did? We cut taxes. President Bush put in a ten-year tax-cut on everything from the death tax to capital gains tax and it was followed by an unprecedented period of economic recovery and economic growth. In fact, it almost overheated the economy through about 2006. So, I think thats the way you stimulate business. And that's the kind of governor that I'm going to be -- to reduce those impediments to entrepreneurship, to let small businesses grow and thrive and create some opportunity.

Now, here's the Wall Street Journal's "Real Time Economics" blog on the Bush economy:

President George W. Bush entered office in 2001 just as a recession was starting, and is preparing to leave in the middle of a long one. That’s almost 22 months of recession during his 96 months in office.

His job-creation record won’t look much better. The Bush administration created about three million jobs (net) over its eight years, a fraction of the 23 million jobs created under President Bill Clinton’s administration and only slightly better than President George H.W. Bush did in his four years in office.

[...]

...The current President Bush, once taking account how long he’s been in office, shows the worst track record for job creation since the government began keeping records.

Bob McDonnell wants to emulate THAT?!? God help us if he's ever elected governor.

P.S. While not creating jobs, the Bush administration also managed to turn a huge budget surplus into an equally huge budget deficit. They managed to widen income inequality in this country. They managed to encourage a housing bubble which, when it popped, led to the worst U.S. economic recession since the 1930s. Apparently, that's what Bob McDonnell's economic model is. Brain. Dead.