Election ’12: One thing is certainly true about President Obama — no matter how many times people point out the falsehoods in his speeches, he just keeps making them. Case in point: his latest “economic fairness” address.
In that speech Tuesday, Obama once again tried to build a case for his liberal, big-spending, tax-hiking, regulatory agenda. But as with so many of his past appeals, Obama’s argument rests on a pile of untruths. Among the most glaring:
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• Tax cuts and deregulation have “never worked” to grow the economy. There’s so much evidence to disprove this claim, it’s hard to know where to start. But let’s begin with the fact that countries with greater economic freedom — lower taxes, less government, sound money, free trade — consistently produce greater overall prosperity.
Here at home, President Reagan’s program of lower taxes and deregulation led to an historic two-decade economic boom. Plus, states with lower taxes and less regulation do better than those that follow Obama’s prescription.
Obama also claimed the economic booms in the ’50s and ’60s somehow support his argument. This is utter nonsense. Taxes at the time averaged just 17% of the economy. And there was no Medicare, no Medicaid, no Departments of Transportation, Energy or Education, and no EPA. Had Obama been around then, he would have decried it all as un-American.