[I]n 1993 when the new Democratic president Bill Clinton struggled to get his centerpiece economic legislation passed...the GOP was sure the bill was a recipe for disaster. At the time Newt Gingrich announced "The tax increase will kill jobs and lead to a recession, and the recession will force people off of work and onto unemployment and will actually increase the deficit." He was positive a recession would ruin America's economy within the "next year," or even "over the next 60 days."Of course, those of us that remember the '90s will recall what actually happened was the US reaching the highest level of economic prosperity in the country's history. Which was readily squandered over the Bush 43 administration's eight years in office.
- Media Matters
So forgive me if I pay no heed to the GOP's current doomsday scenario regarding President Obama's stimulus package.