Washington engages job fraud - part of it is making people feel like loss of jobs is due to the recession, not off-shoring

Washington engages in the grandest fraud on jobs. The people are led to believe that tax cuts stimulate growth and jobs and that borrowing and spending money stimulates jobs.

I'll never forget as Chairman of the Budget Committee briefing Ronald Reagan with Alan Greenspan in the Blair House just before Reagan was sworn in as president. The economy was not good, and I can hear Reagan exclaiming now: "I promised to balance the budget in a year, and there's no way to do it." I explained it would take three years, and I would be glad to help in a bi-partisan effort to try to bring it in balance. The rest is history. President Reagan launched the policy of "growth" to stimulate the economy by cutting taxes, giving the United States its first trillion dollar debt in his first term, with another trillion dollar growth in debt in his second term. President George W. Bush, bragged that he was a Reaganite, stimulated the economy by cutting taxes, which increased the national debt $5 trillion. Instead of growth, the economy lost 673,000 private jobs in eight years under President George W. Bush.

Elected president in November 1992, then Governor Clinton was told in Little Rock by Wall Street and its economists that he not only had to cut spending, but had to increase taxes. Taking office, President Clinton submitted an energy tax increase that was killed in the United States Senate by the farmers. Then we moved desperately to repair our defeat in the Senate with a package of tax increases on everything -- income, beer, tobacco, even Social Security. This tax increase passed both the House and the Senate without a single Republican vote in 1993, with Vice President Gore breaking the tie. Wall Street was given predictability, and the United States enjoyed its strongest economy in history, giving President George W. Bush surpluses "as far as the eye can see." With spending cuts and tax increases, President Bill Clinton created 21,814,000 private jobs in eight years, more than Reagan, Papa Bush and Junior Bush created in twenty years with tax cuts for "growth." And in the last eighteen months, Paulson, Obama, and the Federal Reserve have borrowed and spent over $2.5 trillion stimulating the economy. But the only growth experienced is in debt, and we're still losing jobs.

rest at http://www.economyincrisis.org/content/washingtons-job-fraud