europe and i think that s what the democrats and especially the president wants. europe has very high taxes and one of the ways that europe finances its massive welfare state is through a value added tax on top of the other taxes that they have. i don t knowi i don t think that s the america that american voters want, but that s the decision americans have to make. do we want to raise taxes or everybody is entitled to everyone else s money or we re going to contract this thing? mary? and just to add to steve s point, remember how we got here. we got here through the democratic golden ages and through fdr s new deal. through lb j s great society, which gave medicare, medicaid, public housing, food stamps and now, we have the pelosi congress and president obama adding 4 trillion to our debt. i would add the bush administration bears some credit, if i put it that way, for this. they had a prescription drug benefit that they added that they didn t finance, they
and that would be fine. because we would look like europe and i think that s what the democrats and especially the president wants. europe has very high taxes and one of the ways that europe finances its massive welfare state is through a value added tax on top of the other taxes that they have. i don t knowi i don t think that s the america that american voters want, but that s the decision americans have to make. do we want to raise taxes or everybody is entitled to everyone else s money or we re going to contract this thing? mary? and just to add to steve s point, remember how we got here. we got here through the democratic golden ages and through fdr s new deal. through lb j s great society, which gave medicare, medicaid, public housing, food stamps and now, we have the pelosi congress and president obama adding 4 trillion to our debt. i would add the bush administration bears some credit, if i put it that way, for this. they had a prescription drug benefit that they added
books, appliances, electronics, and bars and restaurants, they are not they re seeing declines in revenues. paul: what about this argument that you hear from our friends on the left that this time it s different. it s not the policies that have failed, it s just the nature of the recession was so much different than any other recent recession. paul, i m not buying it, because, look, i m old enough to remember, as you are, back when we had that what, mini depression back in 79, 80, 81, 82, the economy was in a bigger freefall than when obama tack over. we had a robust economic expansion out of that and the statistics that drives liberals crazy. at this stage of the reagan expansion, 7% of economic growth now we ve got less than 2% economic growth. what s different this time we tried keynesian economics not supply side pro growth market economics. paul: what can we do, mary, to get job creation going?
the democrats and especially the president wants. europe has very high taxes and one of the ways that europe finances its massive welfare state is through a value added tax on top of the other taxes that they have. i don t knowi i don t think that s the america that american voters want, but that s the decision americans have to make. do we want to raise taxes or everybody is entitled to everyone else s money or we re going to contract this thing? mary? and just to add to steve s point, remember how we got here. we got here through the democratic golden ages and through fdr s new deal. through lb j s great society, which gave medicare, medicaid, public housing, food stamps and now, we have the pelosi congress and president obama adding 4 trillion to our debt. i would add the bush administration bears some credit, if i put it that way, for this. they had a prescription drug benefit that they added that they didn t finance, they didn t restrain spending on
they re seeing declines in revenues. paul: what about this argument that you hear from our friends on the left that this time it s different. it s not the policies that have failed, it s just the nature of the recession was so much different than any other recent recession. paul, i m not buying it, because, look, i m old enough to remember, as you are, back when we had that what, mini depression back in 79, 80, 81, 82, the economy was in a bigger freefall than when obama tack over. we had a robust economic expansion out of that and the statistics that drives liberals crazy. at this stage of the reagan expansion, 7% of economic growth now we ve got less than 2% economic growth. what s different this time we tried keynesian economics not supply side pro growth market economics. paul: what can we do, mary, to get job creation going? the first thing we need