House Democratic Leader Nancy Pelosi

FOR IMMEDIATE RELEASE
February 07, 2005

CONTACT:
Brendan Daly/Jennifer Crider
202-226-7616

Pelosi: 'President's Budget is Fiscally Irresponsible, Morally Irresponsible, and a Failure of Leadership'

Washington, D.C. -- House Democratic Leader Nancy Pelosi released the following statement today on the $2.5 trillion Fiscal Year 2006 Budget submitted to Congress by President Bush this morning:

"The President's budget is fiscally irresponsible, morally irresponsible, and a failure of leadership. Democrats insist upon fiscal discipline with budgets that pay as you go, and over the coming months, we will fight for a budget that reflects the values of America’s middle class: national security, prosperity, opportunity, fairness, community, and accountability.

"The two issues that dominated the President's State of the Union Address -- Iraq and Social Security -- are nowhere to be found in this budget. We know that the cost of military operations in Iraq and Afghanistan will cost billions this year, but those costs are not accounted for in this budget. Independent experts estimate the President's proposal to privatize Social Security will cost trillions in coming decades, but it is not accounted for here.

"Further, the budget should be a statement of our national values, but this budget is an assault on our values. It is an American value to guarantee our national security, but the President's budget cuts funding for first-responders and forces veterans to pay more for the health care they have earned. It is an American value to promote safe communities, but the President's budget slashes community policing initiatives. It is an American value to promote opportunity, but the President's budget eliminates 48 education initiatives and slashes funding for health care. Finally, it is an American value to promote accountability, but President Bush's budget is deeply and dangerously lacking in fiscal discipline. It does nothing to address the record deficit of $427 billion.

"The President wants to take credit for the courage to cut programs, yet he does not have the courage to admit his tax cuts for millionaires were a mistake. The cost of making his tax cuts permanent will be $2 trillion in additional debt passed on to future generations. The President's fiscal recklessness is a tax on the future."