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Cutting Deficit in Half Met 3 Years Ahead of Schedule

Date: Oct. 11, 2006
Location: Miami, FL
Issues: Government Budget and Spending


Cutting Deficit in Half Met 3 Years Ahead of Schedule

Congressman Mario Diaz-Balart (R-FL) today praised the effectiveness of Republican economic policies after the administration announced that the deficit has again decreased significantly.

"The deficit continues to drop thanks to Republican economic policies," Diaz-Balart said. "Democrats continue to advocate tax hikes and more spending as their solutions to everything, but the economic numbers prove them wrong. Republicans have laid out a responsible, low-tax, pro-growth economic plan that helps families keep more of the money they earn while also helping to trim the waste, fraud and abuse of taxpayer dollars."

The Administration today announced that the FY'06 deficit is $248 billion, which is $71 billion less than the FY'05 deficit. In February 2004, the Administration pledged to cut the deficit in half from $521 billion, which was the projection for the FY '04 deficit. The new figures demonstrate that President Bush's promise to cut the deficit in half by 2009 has been met three years ahead of schedule.

http://www.house.gov/mariodiaz-balart/news/2006news/101106_deficit.htm

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