Deficit Slashed
The tax cuts we enacted have succeeded in cutting the deficit in half three years earlier than expected. The administration announced yesterday that the Fiscal Year 2006 deficit is $248 billion. That is $71 billion lower than last year. In 2004, President Bush pledged to cut the $521 billion deficit in half by 2009. This is great news for every American. Not only does this mean we are successfully reducing our debt and increasing revenue, but we are doing so without raising taxes on America’s hardworking families. This week is further proof that Americans are responding with confidence to our commitment to keep their taxes low. Time and time again, Democrats have repeated their defeatist claims that unless taxes are raised, the deficit will skyrocket. While Nancy Pelosi and her colleagues pledge to raise taxes on every American family, the majority in Congress is working hard to make the tax cuts permanent.
Unemployment is at a historic low. American wages are increasing and consumer confidence is up. Gas prices have dropped more than 70 cents since August and the stock market has hit new records. There is no denying that the American economy is thriving on pro-growth policies like the tax cuts.
Signed Into Law
Today, President Bush signed into law the Security and Accountability for Every (SAFE) Port Act Conference Report. This legislation will ensure the resources are available to strengthen security at America’s ports and better screen and track containers en route to U.S. shores. This overhaul is important because it puts in place a comprehensive strategy for protecting our ports and addressing potential threats before they ever reach the United States. Additionally, it improves port technology systems that will enhance container tracking capabilities. The port security measure is just one of numerous national and homeland security initiatives Congress passed in September. Collectively, these actions will make America safer, which is after all the primary role of the federal government.
The Threat is Real
Over the past ten years, Republicans and Democrats have gone their separate ways when it comes to North Korea and the threat of nuclear war. Throughout the 1990’s, the Clinton Administration cut billions of dollars in funding for research into the defense systems that could protect Americans from nuclear attacks by rogue nations such as North Korea. This irresponsible policy set the development of a missile defense shield back by years.
Since 2000, the Party of Appeasement has repeatedly voted against America’s efforts to build an effective missile defense shield. And even with the threats we face today, its vote still hasn’t changed. As recently as five months ago, 130 House Democrats voted to cut more than $9 billion from the ballistic missile defense program. This is hardly unexpected considering Minority Leader Nancy Pelosi’s comments in April of 2003 when she said, “The United States does not need a multi-billion-dollar national missile defense against the possibility of a nuclear-armed intercontinental ballistic missile.”
The threat we face today from North Korea is real. President Bush and Congressional Republicans have worked hard to secure America by developing and deploying a reliable missile defense shield. The Bush Administration has also engaged in multiparty negotiations with key world powers to end North Korea’s nuclear program. Congressional Republicans stand united with President Bush in his refusal to coddle North Korea. We are committed to resisting the threats and intimidation leveled by this dangerous regime.
He Said It
“They may think I should be able to give Chelsea every nickel, but I don’t.” Bill Clinton in Las Vegas yesterday attacking Republicans’ goal to repeal the death tax.
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