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from Daily Mislead
July 28, 2004

President Bush and Vice President Cheney have repeatedly promised America that they would get their record-deficits under control. Last year, President Bush said "My Administration firmly believes in controlling the deficit and reducing it."[1] Similarly, Vice President Cheney said "I am a deficit hawk. So is the president."[2] But according to congressional sources, the government is soon expected to project a record federal budget deficit, even as President Bush demands more money for war in Iraq[3] , and a $1 trillion proposal for more tax cuts.[4]

The Associated Press reports the government will project "that this year's federal deficit will exceed $420 billion" - a record[5]. The President last year tried to deflect blame for the deficit, claiming that "This nation has got a deficit because we have been through a war.[6] " While it is true that the President has spent more than $166 billion on the war,[7] the statistics show that his failed economic policies and massive tax cuts for the wealthy are the largest factors contributing to the fiscal demise[8]. Even the White House budget director essentially acknowledged the President's dishonesty about the cause of the deficit, saying "even if we had never been attacked, and incurred no costs of war or recovery from September 11th, and no tax relief had become law, we still would have gone into deficit[9]."


1. "The President's Budget Proposal," New York Times,2/04/03.
2. Transcript of Meet the Press, 9/14/03.
3. "Bush asks for $25 billion more for Iraq, Afghanistan ," CNN.com, 5/06/04.
4. "Bush wants tax cuts to stay," Washington Times, 1/20/04.
5. "White House to project record deficit," Seattle Post Intelligencer, 7/28/04.
6. President Discusses Plan for Economic Growth in Ohio, Whitehouse.gov, 4/28/03.
7. "$166 Billion and Counting",Mercury News 9/15/03.
8. "Deficit Picture Even Grimmer Than New CBO Projections Suggest",Center on Budget and Policy Priorities, 8/26/03.
9. Testimony of Mitchell E. Daniels, Jr. Director of Office of Management and Budget Before House Ways and Means, Whitehouse.gov, 2/4-5/03.

Posted: July 30, 2004


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