Via CBS News:
Bush Deficit Plan Draws Derision
WASHINGTON, Dec. 17, 2003
(AP) President Bush’s goal of cutting in half a projected $500 billion federal deficit within five years is being dismissed as too timid by conservatives, unachievable by analysts and laughable by Democrats.
Here’s the highlighted quote:
“It’s like so much with this administration in respect to fiscal matters, it’s all spin, all the time.”
Sen. Kent Conrad,top Democrat on the Senate Budget Committee
Yesterday’s Investor’s Business Daily:
Bush May Meet Vow To Halve The Deficit Three Years Early
By Jed Graham
Aided by surging tax receipts, President Bush may make good on his pledge to cut the deficit in half in 2006 — three years early.
While looking for info on this, I happened across The Carpetbagger Report, which claims to offer “Reality-Based Commentary”. From Dec. 19, 2003:
A reporter noted that “the dollar has fallen quite sharply, and Wall Street is increasingly worried about the deficit,” and then asked, “Will you have a specific plan for reducing the deficit, or will economic growth alone take care of the problem?”
Bush responded, “[Office of Management and Budget Director Joshua B.] Bolten laid out a plan that will shrink the deficit in half in a five-year period. And that’s based upon reasonable growth assumptions. And it’s a plan that depends upon Congress to continue to hold the line on spending.”
This is the kind of answer that makes me want to tear what’s left of my hair out. In just 39 words, Bush was able to combine falsehood, deception, fantasy, and hypocrisy [emphasis Murdoc’s].
Carpetbagger Report may have been overstating things just a bit…
Now, Murdoc’s not really patting the Prez on the back for the great fiscal job he’s done, though let’s not forget Congress plays an eensie weensie part, too. And the CBS article wonders if the measure was by percentage of GDP rather than absolute dollars, which it apparently is. Percentage of GDP is the way to go.
More at Wizbang.