Fiscal Conservative?
[From CNN]
President Bush Friday signed into law a measure authorizing an $800 billion increase in the credit limit of the United States, the White House said.
Democrats said the debt limit increase, the third in as many years, was necessitated by Bush’s “irresponsible” fiscal priorities, including what House Minority Leader Nancy Pelosi of California described as tax cuts for the wealthy and corporate handouts.
Republicans say the 2001 recession and the costs of the wars in Iraq and Afghanistan as well as the aftermath of the Sept. 11 attacks are responsible for the fiscal shortfall.
The budget deficit hit a record $412 billion in the fiscal year ended Sept. 30 and the Congressional Budget Office has projected $2.3 trillion in accumulated deficits over the next decade.
