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Extending Tax Cuts Will Create Jobs: George W. Bush

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As the question of extending the Bush tax cutsremains undecided, President George W. Bush defended the cuts on CNBC Monday, saying that they promote job growth.

“If one is interested in job creation in the private sector, it is important to recognize that lower taxes enable the job creators, i.e., small businesses, to have more money with which to expand their work force. And I would, yeah, I think they ought to be extended.”

The former president in on a book tour promoting his memoir, Decision Points.

Bush also challenged critics—both conservative and liberal—who have characterized him as a big spender, saying his administration’s expenses were justified.

“The debt-to-GDP (gross domestic product) was lower than only one other—was lower than every president except for President Reagan. And the deficit-to-GDP was lower than every president except for Bill Clinton,” said Bush.

“I was not about to put our troops into harm's way and not make sure that they were fully trained and equipped, and I was not about to let those who came back from combat have a veterans system that wasn't fully funded.”

Watch Larry Kudlow's interview with Bush on "The Kudlow Report," tonight at 7 pm ET on CNBC.

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