CHART OF THE DAY…. Via Krugman, this CBPP chart from April does a great job of describing Republican Party economic policy in a nutshell. The Bush expansion may have featured sluggish wage growth, sluggish GDP growth, sluggish investment growth, and sluggish employment growth, but it also featured a terrific, tax-cut driven surge in corporate profit growth! That makes it a success by anyone’s measure, right?
John McCain, of course, promises yet more Norquistian tax-cutting goodness, because God knows we don’t want to go back to the hell on earth that followed Bill Clinton’s modest tax increases of 1993. Much better just to make sure that rich people are taken care of and let the market sort out the rest.