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“ Democratic priorities are clear: we will fight to get the economy back on track, we will create jobs, and we will help unemployed workers. ” |
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Pelosi Statement on New CBO Budget Estimate
Washington, D.C. -- House Democratic Leader Nancy Pelosi released the following statement today on the Congressional Budget Office's new budget forecast, which estimates record budget deficits of $401 billion for 2003 and $480 billion for 2004:
"Today's estimate from the CBO is yet another reminder of just how appalling President Bush's economic record is. The President's holiday from fiscal responsibility has given our country a parade of abysmal economic statistics.
"President Bush has presided over a loss of more than 3 million jobs and a $9 trillion decline in our nation's fiscal health -- from the $5.6 trillion surplus he inherited from President Clinton to a $3.5 trillion and growing deficit today. The deficits that the CBO predicts for the next two years are the largest in history, and the forecast makes clear that they are not going away.
"Where does it end? The President does not have a plan to bring the budget back into balance. He continues to promote tax cuts for the wealthy that we cannot afford, sticking our children with the bill. Every penny he adds to the debt, our children will have to repay with interest.
"Today's CBO estimate would be shocking if it were not so predictable from this Administration."
“ Democrats are united in presenting a New Direction for America, one that will make our nation as strong as its people, one that brings opportunity, security, and prosperity to all Americans. ”
Democratic Leader Nancy Pelosi
