Today's 10th anniversary of the Bush tax cuts arrives at a particularly ironic time. Ironic, that is, because even as talk of deficits dominates the debate in Washington, that windfall for the wealthy was the single-biggest driver of U.S national debt over the past decade and, if made permanent, will be so for the next. And while Paul Ryan and John Boehner demand draining another $4 trillion from the U.S. Treasury for the "job creators" who created no jobs, White House hopeful Tim Pawlenty's proposed tax plan for the gilded class makes the GOP leaders look like Marx and Engels in comparison.
Given that the Bush years produced the worst economic growth in the past 50 years, it is a sad state of affairs that this proposal is taken seriously. But sadder still is the dismal performance of the Bush economy across almost every indicator that counts. From moribund job creation and sinking household incomes to skyrocketing deficits and record income inequality, Republican economic stewardship over the previous decade was a disaster. Judging by their proposals to repeat recent history, the GOP's future for America looks even worse.
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