Tags: Bush tax cuts | Gingrich | Depression

Gingrich: Renew Bush Tax Cuts or Economy Will Sink

Friday, 30 July 2010 03:08 PM

In an exclusive interview with Newsmax.TV, former House Speaker Newt Gingrich said, “If we have large tax increases in January, this economy will sink deeper into recession, there will be higher unemployment, the recovery will be longer. This was exactly the mistake made in 1937 and ’38 and it created a second mini-depression . . . I think the simple battle cry ought to be ‘No tax increase in 2011, period.’ Keep current law exactly as it is through 2011.”

The architect of the "Contract with America" also excoriated the financial overhaul law as "one more job-killing bill" Democrats have passed.

Editor’s note: See the clip below for Gingrich’s comments on the Bush tax cuts and the financial reform law. To read the full interview — Go Here Now.

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Friday, 30 July 2010 03:08 PM
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