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Madam Speaker, economic forecasters are similar to the weather forecasters: they are the only people who can consistently be wrong about their predictions and keep their jobs, and we listen to them anyway.
The doom-and-gloom economic nay-sayers have predicted for years that the economy is in trouble, but the last four years of economic growth have proved them wrong. Now this year, they say we are headed for a fearful recession. Well, we shall see.
In any event, some of these pseudoeconomic forecasters say we need to increase taxes to stimulate the economy. Well, that makes no sense. In fact, we ought to do just the opposite. We need to make the tax cuts permanent because tax cuts historically prove they work. They work to stimulate the economy. They did so under Presidents Kennedy, Reagan, and Bush. Americans need to keep more of their own money, and the economy will prosper. And who benefits from tax cuts? Anybody that pays taxes benefits from tax cuts. Americans who don't pay taxes are not affected.
Cut the fraud and abuse in the Federal bureaucracies, cut wasteful spending, and cut taxes to bring a sunny forecast to our economy.
And that's just the way it is.
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