Just a week after bragging in his State of the Union speech that the economy is on the mend, George W. Bush faced angry charges that his policies have pushed working people deeper in debt to enrich the wealthy elite.
The Fair Taxes for All Coalition (FTFA) released a scathing statement Jan. 26 citing a Congressional Budget Office (CBO) report that the federal deficit will reach an all-time record $477 billion this year. Over the coming decade, the CBO projected the deficit mushrooming to $2.4 trillion, a trillion dollars higher than the nonpartisan agency projected last August.
The new deficit projections "show that President Bush’s tax cuts are harming American families now and into the future," the FTFA charged. Bush’s $2 trillion in tax cuts, approved by the Republican-majority Congress, "has not improved the standard of living of average Americans or created new good jobs," it continued. article
Friday, January 30, 2004
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