4th largest in history.

[lonestarnot]

"President Bush today held a press conference boasting of a reduced US defecit--even though it is still the fourth largest defecit in American history, RAW STORY has learned...The nation's three highest deficits were seen under Bush."

bwwwwwwwa :rofl: "Starting in 2001," Bush stated, "my administration worked with the United States Congress, and we delivered the largest tax relief since Ronald Reagan was in the White House."


http://www.rawstory.com/news/2006/Bush_touts_fourthlargest_deficit_in_US_0711.html

ick don't call him that "Resident in thief!"

[Sapphire Blue]

1. Hoyer statement:

FOR IMMEDIATE RELEASE
July 11, 2006

Hoyer: Concocted “Victory Lap” on Budget Deficit Is the Height of Absurdity

“This Is the Most Fiscally Irresponsible Administration in American History,” Says Democratic Whip

WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) released the following statement this morning after the Office of Management and Budget released its annual mid-session budget review, and the Bush Administration celebrated a projected budget deficit of $296 billion in Fiscal Year 2006 (which ends September 30):

“For an Administration that is struggling to maintain its credibility both at home and abroad, today’s concocted ‘victory lap’ on the federal budget deficit is not only the height of absurdity but also politically transparent.

“At $296 billion, the projected budget deficit for Fiscal 2006 would constitute the fourth largest deficit in American history – and even this estimate grossly understates the real size of the budget deficit. The truth is, the real size of the deficit is masked by the fact that the Administration and Congressional Republicans are spending every single penny of the Social Security surplus, an estimated $180 billion this year. Thus, even if OMB’s estimate today is correct, the real budget deficit is $180 billion higher – or some $476 billion.

“Furthermore, the President’s claim that this reduction in the estimated budget deficit – an estimate that the Administration itself purposely inflated – somehow vindicates his economic policies is belied by the facts. The increase in revenues to the Treasury is largely attributable to record corporate profits, not a roaring economy that is benefitting American taxpayers who are facing exploding gas prices, skyrocketing health care costs and rising college tuition costs. Moreover, even Republican economists admit that such an increase in revenues is temporary and that the long-term budget outlook remains bleak.

“All the public relations spin in the world cannot alter the facts: In just 66 months, the Bush Administration and Congressional Republicans turned a projected 10-year budget surplus of $5.6 trillion into a projected deficit of $4 trillion by enacting unaffordable tax cuts at a time of war and by shunning pay-as-you-go budget rules.

“The American people will not be fooled by spin. This is the most fiscally irresponsible Administration in American history, and its fiscal legacy will be one of exploding deficits and dangerous debt. Today is not a day for this Administration to celebrate. Today is a day for the President to recognize that his economic policies are failing our nation and our people, and to commit to working with Democrats to restore order to our fiscal house.”

http://democraticwhip.house.gov/in_the_news/press_releases/index.cfm?pressReleaseID=1486

[lonestarnot]

4. OMG VICTORY LAP???? WTF?

[anarch]

8. heh. Can we stop calling them "conservatives" now, and call them

"irresponsibles" instead? I think that's a much more accurate description of their actual policies, both at home and abroad.

[lonestarnot]

9. I will settle for something very uncomplicated: LIARS!

Again bending facts to fit with their agenda.

[in_cog_ni_to]

10. I thought his deficit was larger than all previous President's deficits

COMBINED? I know I read that and heard a Senator say it on the Senate floor.

[lonestarnot]

11. the only news is that it is < what they thought it would be!

:rofl: So fucking ridiculous how they manipulate facts with rhetoric.

[BOSSHOG]

2. Isn't it great that a president

steps up to the microphone and announces a massive deficit. It this good news for "conservatives?" Is this the extent of good news from the white house?

[shoelace414]

3. and doesn't include war costs.

[coalition_unwilling]

12. This is a really important point. If you were to factor in costs

of occupations of Afghanistan and Iraq (both funded through off-budget supplemental appropriations), this deficit would be larger than any previously.

It's just typical Repuke bullshit.

[izzie]

5. Oh he always will say crazy things.

One good year out of all the ones he has been in office, now when will we make up for the last 5 years? Where I live the owners now pay twice as much on oil and gas and they do not think things look so good. First time these last 6 months I have made more on my retirement fund and at this rate I may make up for all I did not make the first 5 years old Bush was in office. What sh--

[Justice Is Comin]

6. If you can't argue the facts, screw the facts.

Signed,


George W. Shithead

[lonestarnot]

7. I saw some people like this on another thread here today.

[unhappycamper]

13. Rejoice!

All is well!

You are feeling very sleeply. . . . . . Your eyes ae becoming very heavy. . . . . You are becoming very tired. . . . .

[lonestarnot]

14. Crack me up!