Many thanks to GP reader John for reminding me to post on this topic.
AP/CBS News – Dec. 2003: “President Bush’s goal of cutting in half a projected $500 billion federal deficit within five years is being dismissed as too timid by conservatives, unachievable by analysts and laughable by Democrats.”
CNN – Jan. 2004: “Like a cowboy-boot wearing David Blaine, President Bush has promised to perform an amazing feat of prestidigitation: he’s going to saw the whopping federal budget deficit in half in just five short years.
But some observers warn the budget proposal he will submit Feb. 2, which will include projections of a greatly reduced deficit by 2009, will be little more than smoke and mirrors — unless he and Congress can show a lot more fiscal discipline than they have recently.”
Um, Bush has met the goal…three years early! But where are CBS and CNN on reporting that milestone?
It is quite amazing that the Reagan and Bush 43 tax cuts have both been proven to stimulate economic and job growth. Yet, Nancy Pelosi promises to repeal the tax cuts if the Democrats with the House. Remarkable and scary.