[Congressional Record (Bound Edition), Volume 150 (2004), Part 13]
[House]
[Page 17639]
[From the U.S. Government Publishing Office, www.gpo.gov]




                   BUSH ECONOMIC POLICIES NOT WORKING

  (Mr. DeFAZIO asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. DeFAZIO. Mr. Speaker, $422 billion: a new record deficit for the 
United States of America, yet another record for the Bush 
administration, eclipsing last year's record of $375 billion. But only 
inside the Washington Beltway or inside the Bush White House is this 
considered proof positive that his economic policies are working.
  Working how? We are going to spend every penny of the Social Security 
surplus and replace it with IOUs. We are going to finance the entire 
Government of the United States outside the Department of Defense with 
borrowed money. We are going to add 10 percent to the national debt in 
one year, indebting another generation and a generation after that to 
work to pay off this profligate spending.
  They say their policies are working. Working how? For whom? The very 
few wealthy people who have reaped the benefit of the huge tax cuts, 
while the rest of America is being given the tab.

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