Bush said: “Keeping America competitive requires us to be good stewards of tax dollars.”
FACT– BUSH HAS PRESIDED OVER SUSTAINED, RECORD DEFICITS: In his 2002 State of the Union address, Bush promised that “our budget will run a deficit that will be small and short-term.” Bush has not kept his promise. The 2005 U.S. budget deficit was $319 billion, the “third-largest ever.” Goldman Sachs predicts $5 trillion in deficits over the next 10 years and Federal Chairman Alan Greenspan argued last April that “the federal budget is on an unsustainable path. … Unless that trend is reversed, at some point these deficits would cause the economy to stagnate or worse.” [Bush, 2002 State of the Union; Fox News, 1/25/06; Center for American Progress, State of the Economy, 1/26/06; Alan Greenspan, 4/21/05]
FACT — BUSH TAX CUTS WOULD WORSEN THE DEFICIT: The President’s tax cuts would only “expand the deficit over the next five years,” despite his promises to the contrary. [Center for Budget and Policy Priorities, Press Myths]
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