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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: geode00 who wrote (28331)	10/9/2004 10:33:14 PM
From: Selectric II	Read Replies (1) \| Respond to of 173976

The DEFICIT is going DOWN in 2005, according to the Congressional Budget Office, pal. Clinton's recession and 9/11 caused a little problem that Bush is correcting... From the Congressional Budget Office: The Budget Outlook The Congressional Budget Office (CBO) projects that under current policies, the federal deficit will total $477 billion in fiscal year 2004 and then decline to $362 billion in 2005 (see Table 1-1). Although that 2004 deficit would be a record in nominal dollars, it would represent a smaller share of the economy--4.2 percent of gross domestic product (GDP)--than the deficits recorded in the mid-1980s and early 1990s (see Figure 1-1). For the 10 years from 2005 through 2014, CBO projects that current policies would produce a cumulative deficit of $1.9 trillion, or 1.3 percent of total GDP over that period. cbo.gov

To: geode00 who wrote (28331)	10/9/2004 10:56:42 PM
From: CalculatedRisk	Read Replies (1) \| Respond to of 173976

After 9/11 and after the recession, Bush went before the Congress and said "our budget will run a deficit that will be small and short-term" (SOTU Jan 29, 2002) SOURCE: whitehouse.gov When Bush gave that speech the National Debt was $5.9 Trillion. In just 2 1/2 years the debt has grown to $7.4 Trillion. Did we run a small deficit? Was the deficit short-term? No and no. Was the deficit caused by the recession? No. Bush made his projection AFTER the recession had ended. Was it caused by 9/11? No. Bush had made his projection AFTER 9/11. As the WSJ journal pointed out, the two largest factors in the deficit were 1) the Bush tax cuts, and 2) Bush's rapid increase in government spending (that Bush lied about during the debate). Only the Borg believes Bush's excuses because they don't put the facts in the proper time sequence.