Pelosi: * ... Among Most Fiscally Irresponsible Leader in Our History..." [View All]

[paineinthearse]

Pelosi: 'President Bush's Place Among Most Fiscally Irresponsible Leaders in Our History is Secure'

3/11/2005 12:54:00 PM

----------------------------------------------------------------------

To: National Desk

Contact: Brendan Daly or Jennifer Crider, 202-226-7616, both of the Office of House Democratic Leader Nancy Pelosi; Web: Web: http://democraticleader.house.gov

WASHINGTON, March 11 /U.S. Newswire/ -- House Democratic Leader Nancy Pelosi released the following statement today on the announcements of the largest one-month budget deficit in U.S. history and the second-largest trade deficit in history:

"The Bush Administration continues to set records of dubious distinction. With the highest one-month budget deficit and the second highest trade deficit ever, President Bush's place among the most fiscally irresponsible leaders in our history is secure.

"The February budget deficit of $114 billion was the first time the deficit for any one month has exceeded $100 billion, and the trade deficit in January increased to $58.3 billion, the second highest on record. The highest, of course, was also on President Bush's watch.

"The Bush Administration's policies are fiscally reckless and morally irresponsible, and will have real consequences for generations to come. These deficits mean interest rates will rise and economic growth will slow. Meanwhile, we are passing on mountains of debt to our children and grandchildren.

"The President does not even recognize the seriousness of these problems. According to the nonpartisan Congressional Budget Office, the Bush budget will increase the deficit by $1.6 trillion over the next 10 years. When will the President admit that his policies are failing, and get serious about reducing these deficits?"

http://www.usnewswire.com/