[TheBaron]

It's funny. Bush is the first president since Herbert Hoover to have a net loss in jobs. Unless he creates nearly 1,500,000 jobs in the next couple of months he will be a historically important president. The stock market can be favorable right now but the fact is the US economy has been scarred. The manufacturing sector has been hit hard, and in the last fifty years when jobs were lost from manufacturing and agriculture they were made up in the service sector but under Bush the sevice sector has had very limited growth which can be attributed partly to the Bush polocy of supporting the outsourcing of jobs to other countries. Bush's labor secretary is now taking flak for his speech that openly supported such actions.

There is no evidence that "supply side economics" works. Tax cuts for the rich only worked once and that was a fluke under the Kennedy administration. Nobel prize winning economists (Gary Becker, Rudiger Dornbusch as well as Milton Friedman, Merton Miller, Robert Mundell and Sir Alan Waltersit) all have found that since the Kennedy era, tax cuts for large companies and rich people do not work. The money is very rarely reinvested into the economy and when it is, it is ofen invested in technology which many times will replace jobs. Another alarming trend is that companies are using extra income to invest in foreign outsourcing. While companies were strained under taxes and just waiting for relief to bring their companies into modern times in Kennedy's era, now we are in a global economy where technology most often replaces jobs instead of creating them.