Bush radio address: "estimates of deficits are shrinking"

[Cocoa]

Come on, whores, tell us how this isn't a lie, I can't wait.


http://biz.yahoo.com/prnews/040731/dcsa006_1.html?printer=1

WASHINGTON, July 31 /PRNewswire/ -- The following is a transcript of the radio address by President Bush to the nation:

THE PRESIDENT: Good morning. This week we received encouraging reports that show our economy is gaining strength. Consumer confidence hit a two-year high in July. Existing home sales hit an all-time new record in June. The home ownership rate has hit a new all-time high. And since last summer, our economy has grown at a rate as fast as any in nearly 20 years.

These gains in our economy have come at a time when Americans are benefiting from the full effects of tax relief. I have traveled across America, meeting small business owners who are investing tax savings into new equipment, and I have met families who are using tax savings to pay for their children's needs. All of this added economic activity is creating opportunity. Since last August, Americans have started work at more than 1.5 million new jobs, many of them in high-growth, high-paying industries.

The impact of our growing economy is being felt in Washington, where estimates of government deficits are shrinking. My administration now forecasts that the combined deficits in 2004 and 2005 will be about $100 billion less than previously expected, and because of my policy of strengthening the economy while enforcing spending discipline in Washington, we remain on pace to reduce the deficit by half in the next five years.

These are hopeful signs and we must make sure our economy continues to gain momentum. Families are working hard to make ends meet, and these families depend on good policies in Washington that promote growth, new jobs and new opportunities.

Thanks to the No Child Left Behind Act, we are improving our public schools so students learn basic skills like reading, writing, math and science. We have expanded Pell Grant college scholarships so that more students can attend college, and we are helping community colleges train workers for the new high-skill jobs being created in our growing economy.

We're giving individuals more control over their health care dollars through newly created health savings accounts, and we must also address the rising costs of health care by enacting common-sense reforms in our medical liability system. We must continue to open up foreign markets to American goods, because on a level playing field, American workers and farmers and entrepreneurs can compete with anybody, anytime, anywhere.

We must enact reforms to our legal system, so hardworking entrepreneurs are not run out of business by frivolous lawsuits. We must have a national energy policy so we become less dependent on foreign sources of energy. We must have sensible regulations so that America's job creators can focus on satisfying their customers and not bureaucrats in government.

And we must keep taxes low on American families and small businesses, by making the tax relief we have passed permanent. Thanks to tax relief enacted since 2001, a family of four earning 40,000 a year now pays nearly $2,000 less in federal taxes. That is enough to pay the average home electricity bill for more than a year, or fill up the gas tank of two cars for an entire year.

To millions of hard-working Americans, tax relief has been the difference in helping make ends meet. This is a crucial time for our economy. We have emerged from a period of great challenge. Terrorist attacks, recession and corporate scandal hurt the wallets of millions of Americans, but these shocks to our economy did not damage our spirit. We're a hardworking and resilient nation. Our economy is on a rising path, and together, we will bring our prosperity to every corner of America.

Thank you for listening.

END

[unblock]

1. estimates of my wealth are increasing

but that don't pay the rent!

[elperromagico]

2. Oh, so it will only be $345 BILLION instead of $445 BILLION?

That's a relief, I'll tell you.

"Billion" can feel so abstract; let's write that out. $445,000,000,000.

If every one of the 293,878,498 people currently estimated to be living in the United States paid an equal share to pay off the deficit, we'd all owe $1,514.23. But of course, we won't have to pony up for that bill for several years... and when we do, it'll be with interest.

[unblock]

7. that's just the DEFICIT, not the debt.

in order words, for every man, woman, and child, we went $1,514.23 DEEPER in debt THIS YEAR ALONE.

NEXT year we will add ANOTHER $1,500 or so to the debt.

the TOTAL debt is somewhere around $7 trillion.

that's $7,000,000,000,000.00.

that's over $23,000 for every man, woman, and child.

soon the average share of a family of 4 will be a whopping $100,000!!!

[elperromagico]

8. And that is WITHOUT interest! n/t

[Bullshot]

13. That's the fallacy of the "tax" label hung on Democrats.

The Republicans give tax breaks and increase the federal deficit to serious levels. Then, the Democrats take over and are in a position where they have to increase taxes to reduce the deficit or balance the budget. Then, they get the "tax and spend" label pasted on them.

Here in Ohio, which has been run by Republican governors for 14 straight years and Republicans in the cabinet and the House and Senate for over 10 years, we're seeing tax hikes left and right because they can't control spending and they have depleted the state's rainy day fund surplus.

It's scary in how people cannot critically think for themselves and just repeat the baseless rhetoric they hear on the radio talk shows and coffee shops.

[elperromagico]

14. It's the difference between "Tax and Spend" and "Borrow and Spend."

The Republicans have a credit card mentality. They'll spend what they don't have, and then borrow more.

If people would just stop and think that the money being borrowed now will have to be paid back, they might not be so eager for upper class tax cuts.

[wolfgirl]

3. Thank goodness

I thought we were in debt or something!:puke:

[elperromagico]

6. So did I!

In other news...
I have made a profit of $100 this week.









Unfortunately, I have lost $500 gambling.

[WI_DEM]

4. so your proud that the record surplus you inherited will only be

perhaps $345 billion in the red?

[Cocoa]

5. that's what he means when he says

"results matter"

[flpoljunkie]

9. Exclude Social Security and the deficit will actually be $595 billion!

Bill Clinton reminded the nation Monday night when he spoke at the Democratic National Convention when he said your Social Security taxes are being used to pay for his big tax cut!


Media, do your job for once, and help the American people to understand this!

[elperromagico]

10. Exclude a Republican from the White House,

and the deficit starts to vanish. Odd phenomenon, really.

[FloridaPat]

11. Also doesn't include in invasion of Iraq and any Afghanistan.

That really adds a lot.

[elperromagico]

12. It's a pretty safe bet that whenever this White House estimates,

they're being conservative in their estimate. It's one of the few things they actually are conservative about.