Bartow, October 5, 2006 – Today's announcement that the FY 2006 budget deficit was $71 billion lower than last year "shows that Republican efforts to grow the economy are working," stated Representative Adam H. Putnam (R-FL 12).

Putnam, who serves as Chairman of the House Republican Policy Committee and is a member of the Congressional Leadership, noted that the Bush Administration's pledge to cut the deficit in half was achieved three years ahead of schedule.

"In February 2004, while unveiling the President's FY2005 Budget, which included an estimated deficit of $521 billion, then-OMB Director Josh Bolten announced the President's pledge to cut the deficit in half by 2009," Putnam stated. "Today's announcement that last year's deficit stood at $248 billion means that we have fulfilled our pledge – and done so three years early."

"This achievement did not come about by accident, but by enacting a pro-growth agenda that allows Americans to keep more of what they earn to save, invest or spend as they choose," Putnam commented. "By lowering tax rates across the board, giving middle class Americans a tax break and cutting capital gains and dividends rates, we have experienced 19 consecutive quarters of economic growth, the Dow Jones is at a 6 year high and tax receipts are coming in at a record pace."

 "Some have called for an end to our pro-growth agenda, but to do so would be a mistake," Putnam concluded. "Our continued economic success depends on a growing, thriving economy, and I will continue to fight for lower taxes, leaner government spending and legislation that empowers people, not the federal government, to make critical economic choices."

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