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Old October 10th, 2003, 04:36 PM
Jeffrey A.
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Default Bush?

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October 10, 2003 | Daily Mislead Archive
U. S. Comptroller Declares Bush Policies Will Keep Nation Deeply in Debt
U.S. Comptroller General David Walker, the nation's chief fiscal
officer, interjected a dose of reality this week into President Bush's
rosy claims that his Administration can cut the federal deficit in half
within five years without changing policies.1 "The idea that this is
manageable or that we are going to grow our way out of the problem is
just flat false," Walker said2.
In a speech at the National Press Club, Walker took direct issue with
the President's ongoing insistence that his tax-cutting "pro-growth"
policies and budget cutbacks are sufficient to "expand the economy and
help bring down this deficit."3
To the contrary, Walker said, "We need a wake-up call, "adding that the
current huge deficits cannot be reversed without "significant changes in
status quo programs, policies, processes and operations."4 He
emphasized, "Our nation has a major long-term fiscal challenge that is
not going away."
Although Bush pledged Thursday he wouldn't "pass [problems] on to other
Presidents and other generations,"5 he refused to change his mind about
making his tax cuts permanent. 6 The Congressional Budget Office has
estimated the cost to the deficit would be more than $1 trillion over
the next ten years.7
Sources:
1. Presidential Speech and Questions, 8/22/03.
2. "Bush's Economic Growth Forecast Called 'False,'" Los Angeles Times,
10/7/03.
3. Presidential Speech, 1/7/03.
4. "Watchdog Declaring Deficit Crisis," CBSNews.com, 9/17/03.
5. Presidential Speech, 10/9/03.
6. "Bush seeks to make tax cuts permanent," Washington Times, 9/5/03.
7. "GAO grim on deficit outlook," Atlanta-Journal Constitution, 9/18/03,
p. 1A.
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