Tags: Small | Businesses: | Daschle | Blocks | Recovery

Small Businesses: Daschle Blocks Recovery

Monday, 07 January 2002 12:00 AM

The Small Business Survival Committee called it "ridiculous" that Daschle would blame tax cuts for the recession.

"If there is someone to blame for making the recession worse, it's Senator Daschle, who has stood as a roadblock to economic recovery. He's been the main obstacle to real economic stimulus. If the recession continues, it should be called the Daschle recession," said SBSC President Darrell McKigney in a statement.

SBSC chief economist Raymond Keating added: "Senator Daschle has his economics badly mixed up. He might want to acknowledge that the economy started to slow down in the third quarter of 2000, while the policies he praised were still in effect and long before President George W. Bush was elected and any of his policies were passed."

Keating thinks the only legitimate criticisms one can levy against the Bush tax cut are that the income tax cuts take too long to be implemented: They will not be fully phased in until 2006. The death tax is not eliminated until 2010, and unless renewed the entire tax cut package expires in 2011.

Daschle, D-S.D., said Republican tax cuts passed in the summer of 2001 were to blame for the recession. He believes new government spending programs and "targeted" tax cuts are the solution.

In a speech at the Center for National Policy (CNP), Daschle accused the GOP of causing "the most dramatic fiscal deterioration" in American history.

"Every economic boom eventually slows down. When that happens, the question is not who is to blame, but what do we do to get the economy going again," Daschle said. "Unfortunately, last spring, Republicans chose exactly the wrong solution. They made a huge tax cut their number one priority, ahead of everything else, and discarded the framework of fiscal responsibility."

Daschle says the tax cut was "by far the largest factor" in creating a "rapidly disappearing surplus." He dismissed the Sept. 11 terrorist attacks and the war in Afghanistan as causes of the recession.

However, the Senate Democratic leader was not without his supporters.

Wilderness Society praised Daschle for what it called his "insightful approach" to America's economic and energy security.

"These are serious times that require thoughtful, well-crafted economic and energy policies, driven by the interests of all Americans, not the special interests of a few. Sen. Daschle's approach meets that challenge," the group said in a statement. "Senator Daschle outlines a visionary approach for the 21st century that includes reliance on conservation and new technologies that will create jobs, protect the environment and provide long-term energy security. We thank Senator Daschle for his leadership."

Some observers see Daschle as a possible presidential contender in 2004, and in that light, his speech Friday could be considered the opening salvo of his campaign.

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The Small Business Survival Committee called it ridiculous that Daschle would blame tax cuts for the recession. If there is someone to blame for making the recession worse, it's Senator Daschle, who has stood as a roadblock to economic recovery. He's been the main...
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2002-00-07
Monday, 07 January 2002 12:00 AM
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