What a joke. This coming from a president who never used his veto power as a threat regarding record spending in the prior six years, and who also slashed taxes several times -- during wartime, no less -- further contributing to the ballooning deficit. But Bush is changing his tune:
The administration appears to be stepping away from an economic argument that has worked well for Republicans throughout Bush's presidency: that federal deficits, though at record levels, are not especially large as a percentage of the economy and therefore offer little cause for concern, a view famously encapsulated in 2002 when Vice President Cheney told Paul H. O'Neill, then the Treasury secretary: "Deficits don't matter."Ah yes, but with the Dems in control, now deficits do seem to matter. Good to see it's all about prudent policy and what's good for the country, as opposed to just craven partisan politics.