Kerry Says Bush Should Tap Strategic Cash Reserves
(2004-05-20) -- Democrat presidential hopeful John Forbes Kerry today blamed President George Bush for the recent surge in fuel prices caused by the economic recovery and called on the president to "tap the nation's strategic cash reserves, now held in pockets of millions of Americans, in order to dampen demand for oil."
"The surging economy in the U.S. and globally has increased demand for oil beyond current production, thus driving up prices," said Mr. Kerry. "We can lay this tragedy at the doorstep of the White House."
The Bush tax cuts fostered economic growth, Mr. Kerry noted, which spurred demand for oil, increasing prices.
"It's time for George W. Bush to release the strategic cash reserves by repealing tax cuts, and instituting an immediate rebate to the government of monies which taxpayers would have paid under a Democrat administration," he said. "That money rightfully belongs to the government, but Bush has squandered it by leaving it in the hands of the proletarians."
President Bush, meanwhile, called on the American people to be patient with high fuel prices, according to White House spokesman Scott McClellan.
"The President has a plan to release all the free oil we claimed when we conquered the Republic of Iraq," said Mr. McClellan. "After all, that's what the war was all about. Once that glut of crude hits the market, supply will outstrip demand and prices will plunge. I wouldn't be surprised if that happened as early as October."
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