To: TigerPaw who wrote (402438 ) 5/3/2003 4:47:18 PM From: Tadsamillionaire Read Replies (1) | Respond to of 769670 Kerry says Bush economic plan ignores the country's needs Friday, May 2, 2003 By: Glenn Johnson Boston Globejohnkerry.com The economic plan that President Bush is trumpeting in Silicon Valley today will do little to stimulate the economy while creating deficits that extend ''as far as the eye can see,'' Senator John F. Kerry said yesterday. Instead, the Massachusetts Democrat and presidential contender argued that the nation needs a plan that includes a middle-class payroll tax ''holiday,'' as well as a massive public works program that Kerry conceded will create deficits of its own for perhaps the next five years. Speaking before Bush addressed the nation last night about national security matters from the deck of the USS Abraham Lincoln, and ahead of the president's economic address at United Defense Industries, maker of the Bradley fighting vehicle, in Santa Clara, Calif., Kerry told reporters in a conference call: ''You can give speeches defining your policy, but if it stays the same, it's the same policy. It's not the backdrop that's at issue; it's the policy that's at issue.'' Bush favors a program centered on a tax cut of at least $550 billion. He says putting cash back into the pockets of consumers will create spending that restores consumer confidence and promotes job creation. Asked about polls showing the president with a 71 percent approval rating, perhaps signaling public support for his policies, Kerry recalled the 91 percent approval rating that Bush's father, former president George H.W. Bush, enjoyed at the end of the 1991 Persian Gulf War. ''He's 20 percent below his father and his father lost'' reelection in 1992, the senator said. Kerry said the country cannot afford another tax cut on top of the $1.6 trillion tax-reduction plan Congress approved in 2001. He said that since Bush has taken office, the country has lost 2.5 million jobs and seen a $5.6 trillion budget surplus turn into a projected deficit of nearly $2 trillion. ''The president's going to a carrier to give a speech far out at sea with military surroundings while countless numbers of Americans are frightened stiff about the economy here at home,'' Kerry said. ''The economic plan of the president is simply not addressing the real needs of the country.'' Jim Dyke, a spokesman for the Republican National Committee, offered no detailed response to Kerry's proposal, except to say, ''It may take me some time to call you back because it may take me some time to sort through what may just be campaign quips.'' The comment referred to Kerry's explanation that his recent comment calling for a ''regime change'' in the United States, as well as Iraq, was a ''quip'' that Republicans were using to challenge the senator's patriotism. As he did last fall during a speech in Cleveland, Kerry offered his economic prescription: a one-year rebate of the payroll taxes paid by middle-class workers; federal assistance to help states close deficits now pegged at $100 billion or more; allowing previously delayed spending on court-ordered projects such as the cleanup of federal Superfund sites; and a program of government spending on infrastructure such as road and bridge construction. On that last point, the senator would not provide a dollar figure, but said he is preparing to release a plan calling for ''significant'' spending. He said that such spending would create a budget deficit for up to five years, but that President Clinton followed the same prescription in 1993 and eventually it led to budget surpluses for two successive years. ''There is no politician in America who is going to balance the budget this year or next,'' Kerry said. ''We need to grow the economy, but we have to have a plan that shows that your revenue line and your expenditure line are coming together somewhere reasonable down the road.'' Under the Bush plan, he said, ''there are deficits as far as the eye can see.'' This interest All interests Search: Click on the headlines below to read an article. Most recent articles are listed first. Scroll down to see more. If there are more articles to view, you can click the 'more...' link at the end of the article list. January 22, 2003 - New Hampshire Voters Impresssed with Kerry in MSNBC/Newsweek Focus Group