For Immediate Release
December 21, 2005
Contact: Josh Earnest - 202-863-8148
Treasury Secretary's Latest Snow Job
Washington, DC - Despite the fact that President Clinton left office in 2001
with record budget surpluses, Bloomberg News reported today that Treasury
Secretary John Snow called Clinton's budget surplus a "mirage" and claimed that
the legacy of President Bush, who has presided over record budget deficits,
will be one of "having significantly reduced the deficit in his time."
President Clinton's economic policies produced a $236 billion surplus in 2000,
with projected surpluses of $5.6 trillion over the next ten years. Now, after
five years of President Bush's failed leadership on the economy, our nation
faces a $1.6 trillion five-year deficit.
This is not the first time Secretary Snow has detached himself from economic
reality. During a campaign stop in Ohio last year, Snow called the nation's
jobs loses under President Bush a "myth."
"Secretary Snow has taken the concept of revisionist history to a whole new
laughable level," said Democratic National Committee Press Secretary Josh
Earnest. "The record is clear: President Clinton's responsible management of
our nation's budget yielded a strong economy for all Americans, including
record budget surpluses. Predictably, President Bush's failed policies have
decimated the nation's budget and the pocketbooks of millions of Americans.
"It is time for the President and his economic team to stop trying to change
history and start changing his economic policies that have hurt the nation's
budget and millions of working families."
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