Saturday, January 05, 2002

Democrat Assails Bush on Economy
Mr. Daschle tried to dispel the idea that the Sept. 11 attacks and the war on terrorism were the main causes of returning federal deficits. "Sept. 11 and the war aren't the only reasons the surplus is nearly gone," he said. "They're not even the biggest reasons. The biggest reason is the tax cut."

At the heart of Mr. Daschle's speech was an effort to contrast Mr. Bush's economic policies with those of former President Bill Clinton and to tie Democrats to the prosperity of the last decade. He was flanked by a former Clinton treasury secretary, Robert E. Rubin, and a onetime Clinton budget director and chief of staff, Leon E. Panetta, who is board chairman of the Center for National Policy, the site of the speech.

"In 1993," Mr. Daschle said, speaking of Mr. Clinton's first year in office, "our economy was saddled with a record $290 billion deficit, and that deficit was projected to grow substantially for years. By 2000 not only was the deficit gone, we had a record $236 billion surplus, and that surplus was expected to increase dramatically for years."

Careful not to attack Mr. Bush by name, he said that when the recession started in March, "Republicans chose exactly the wrong solution" and pushed through the $1.35 trillion 10-year tax cut. Mr. Daschle said supporters of the tax cut had been "certain we could do everything" — reduce taxes, increase spending, protect the federal retirement programs and pay off debt.
http://www.nytimes.com/2002/01/05/politics/05DASC.html?todaysheadlines&pagewanted=all

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