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Thu 12 Oct, 2006 07:48 pm
President Bush Discusses the Economy and Budget
Quote:THE PRESIDENT: Thank you all. Please be seated. Good afternoon. Thanks for coming to the White House.
In 2004, I made a promise to the American people, we would cut the federal budget deficit in half over five years. Today I'm pleased to report that we have achieved this goal, and we've done it three years ahead of schedule. (Applause.)
This morning my administration released the budget numbers for fiscal 2006. These budget numbers are not just estimates; these are the actual results for the fiscal year that ended February the 30th.* [sic] These numbers show that the budget deficit has been reduced to $248 billion and is down to just 1.9 percent of the economy. As a percentage of the economy, the deficit is now lower than it has been for 18 out of the last 25 years. These budget numbers are proof that pro-growth economic policies work. By restraining spending in Washington, and allowing Americans to keep more of what they earn, we're creating jobs, reducing the deficit, and making this nation prosperous for all our citizens.
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I'm speechless....
He also apparently forgot the whole part about stealing money from Social Security. Money that could be gaining interest for the program in the future, but won't, because he needed to show that the deficit was lower this year.
Cycloptichorn
You could say Bush is a competent idiot.