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Press Briefing by Tony Snow 11/10/06 (Topic: Budget Deficit)
— Friday, November 10, 2006 — Q Yesterday, former Treasury Secretary Bob Rubin said that you cannot solve the nation's fiscal problems without increased revenues. I'm sure you'll be happy to share with us the administration's objections to tax increases, but would you also explain, is the President at all concerned about the ballooning deficit, and what does he propose to do about it? MR. SNOW: Well, the deficit is down, Jessica, and revenues are up. So I think maybe I should read that as a note of congratulation from Secretary Rubin. Q The deficit is down from what? MR. SNOW: Well, the deficit has been cut in half. The President had proposed to do it by 2009, and here is it 2006, and you look at the trends, and you look at also the fiscal discipline that this administration intends to impose, and you're going to have a falling deficit. And you're going to have increased revenues. Also, look at the revenue path, because you will find the revenues have been increasing at a double-digit pace. So what our view is, is that economic growth -- and you saw this in the Clinton years -- economic growth creates a burst of revenue that will enable you to close the deficit. You put that together with fiscal discipline. And Democratic leaders have talked about fiscal discipline, as well. So our objection to tax increases is, number one, they're bad for the economy. And, number two, they're unnecessary from a revenue standpoint. Q So the President is happy with the state of the deficit? MR. SNOW: The President -- no. The President has already talked about reducing the deficit. Did you not hear that he is happy that we have cut the deficit in half, in far shorter than we thought we could? But on the other hand, he wants to continue fighting the deficit. And I would point you -- I tell you what, you can look back at last year's economic message from the President, or look forward after the State of the Union this year, where you will see benchmarks for the deficit, and they go down. Q Tony, can I ask another question on a different topic? MR. SNOW: Please. Q Whatever -- you're on the record on that, so it's fine. We'll go on. MR. SNOW: Well, I'm -- well, tell me -- wait, wait -- what on Earth did that mean? That was a little catty. (Laughter.) I'm on the record because it's true. Revenues are up and the deficit is down. Do you deny that? Q It's down from perhaps your projections, but it's not down -- MR. SNOW: Is it down from last year? Q The deficit continues to grow out of control in a way that -- MR. SNOW: I think you're talking about national debt. There's a difference. The deficit has been declining and will continue generally to decline. Q And you think that Bob Rubin has no -- there's no merit in his comments? MR. SNOW: I think Bob Rubin is right. You want enhanced revenues and you want lower deficits, and we pursue the same goal. Q But, wait -- you want enhanced revenues and lower deficits, but not through tax increases? MR. SNOW: Correct. You don't need them. White House Press Corps | Press Briefing | Tony Snow | News Media | Bush Administration | Budget Deficit
Posted by WhiteHousePressCorps.org @ 10:18 PM
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1 Comments:
Facts, I dont need facts! I'm a journalist!
Widow's Son
BurningTaper.com
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