IMF Report Confirms Bush Policies Dangerous To U.S., World Economy

January 8, 2004

BURLINGTON-In response to the recently released IMF report on the impact of U.S. deficits on the global economy, Democratic presidential candidate Governor Howard Dean, M.D., said:

“It is absurd that the Bush administration still pretends to be fiscally responsible. They claim that they will reduce the budget deficit by half in five years, but their actions speak more loudly than their words: more tax cuts envisioned for the wealthy, $150 billion and counting for their unnecessary war in Iraq, billions in give-aways for their corporate backers, and skyrocketing increases in spending. This President doesn't understand fiscal discipline.”

According to the New York Times, the IMF study “sounded a loud alarm about the shaky fiscal foundation of the United States, questioning the wisdom of the Bush administration's tax cuts and warning that large budget deficits posed 'significant risks' not just for the United States but for the rest of the world.” The report states that due to President Bush's reckless fiscal policies the country now faces deficits “projected as far as the eye can see.”

“This report confirms what we've known since President Bush took office: his policies are not only a danger to the U.S. economy-they are a danger to the world economy as well. We cannot manage the U.S. economy based on the Argentine fiscal model.”

“A president has a moral responsibility to protect the future of all Americans. He has a responsibility to make sure we do not pass on a massive debt to future generations. This president has abandoned his moral responsibility and imposed a Bush Tax on us and our children, choosing tax cuts for the wealthy over our nation's economic well-being and our children's future.”

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