Obama Holds his own with a Vindictive Interviewer and some Economic Talk

Part 2 of the O’Reilly interview was about the economy.  I knew Bill was in the bag for the GOP – but didn’t realize how much he was ‘in the bag’.  There is a difference between asking tough questions and arguing.  I think O’Reilly went over the line.  He did not allow Obama to explain his point of view, and without respect, continually interupted and told Obama he was wrong.  Bill wasn’t going to allow Barak to explain his point.  I can tell you, that good ole Charlie Gibson will be much easier on Palin.  If Palin was subjected to is type of questioning, she’d fold.  In fact, it would be entertainment.

But the good is this – Obama held his own.  He didn’t make any real gaffs, provided his point as clear as he could while being interrupted. That should show a lot about the man and how much he knows about the issues.  Do I think his answers could be better, yes – but I do not think any candidate (maybe Biden) would have done better.

Finally, Bill kept making the point that Federal revenue (aka Tax dollars) went up 20% during the Bush years.  He argues, that the only way you can bring in more Federal revenue is through people making more (the economy growing) or taxing at a higher rate.  Since Bush cut taxes, O’Reilly argued that the economy was humming to bring in more revenue then under Clinton.  The part he failed to mention, that Obama tried, was that 1) Yes, the economy grew – but not quickly 2) Real dollars (aka inflation adjusted) affected the actual effect 3) There is a lot of argument as to why the reveinue grew 20% – was it the tax cuts or a rebounding economy or would they been higher with higher tax rates.

I will leave you with two other points 1) Federal Revenue is up roughly 8% during Bush years and was up nearly 70% under Clinton.  It was up 0% under Bush I and 40% under Reagan.  Don’t sue me – these are rough estimates based on the eye chart I reviewed. ALso – these are inflation adjusted.

Finally, according to Factcheck.org: “Republican presidential candidate Sen. John McCain has said that the major tax cuts passed in 2001 and 2003 have “increased revenues.” He also said that tax cuts in general increase revenues. That’s highly misleading. 

In fact, the last half-dozen years have shown us that we can’t have both lower taxes and fatter government coffers. The Congressional Budget Office, the Treasury Department, the Joint Committee on Taxation, the White House’s Council of Economic Advisers and a former Bush administration economist all say that tax cuts lead to revenues that are lower than they otherwise would have been – even if they spur some economic growth. And federal revenues actually declined at the beginning of this decade before rebounding. The growth in the past three years that McCain refers to brings revenues back in line with the 40-year historical average as a percentage of gross domestic product.”

Now on to the video:

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