Responds to Comments From Head of G.A.O. on National Deficit

Concord, NH, October 7, 2003

CONCORD, NH-Yesterday in an interview with Bloomberg News, Comptroller General David M. Walker, head of the General Accounting Office, disputed as “flat false” President Bush's assertion that economic growth resulting from tax cuts will help shrink the federal deficit. Governor Dean issued the following statement:

“When the federal government's own chief auditor can't trust the President's rosy scenario budget projections, something is wrong in America. The truth is, these tax cuts were never meant to reduce the deficit; they are part of a radical ideological agenda aimed at starving the federal budget in order to force cuts in vital services like Medicare, Medicaid, Social Security and public education.

“I'm tired of being misled by this administration. The President should be honest about what the future of America will look like due to his policies: it is an America where those at the top are protected, those in the middle class must struggle to stay there, and our seniors, our children and our low-income families will be expected to fend for themselves. President Bush should level with the people and let them decide if that's the America they want, since that's the America they're getting.

“David Walker should be commended for saying what so many of us in both parties have long argued: the supply-side theory that cutting taxes will ultimately reduce deficits is a myth.”

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