Lawrence O’Donnell Confronts Gingrich: Asks Him To Apologize For Predicting Clinton Tax Increases Would Lead To Downturn

Lawrence O’Donnell Confronts Gingrich: Asks Him To Apologize For Predicting Clinton Tax Increases Would Lead To Downturn: Indeed, in 1993 when President Bill Clinton raised taxes on the top income earners, Gingrich and the Republicans argued that the hikes would result in economic decline and result in huge deficits. They were proven wrong. The country experienced the “longest period of economic growth in U.S. history, increased business investment, 23 million jobs added, and, of course, budget surpluses.” The same boom did not materialize after President George W. Bush enacted his tax cuts; the country experienced large deficits and the weakest job and income growth in the post-war era.