Friday, June 20, 2003
This from Sen. Ernest Hollings:
Nobody is paying any attention to the budget deficit. Last month the House Budget Committee's Democrats forecast a deficit of nearly $500 billion, and The Post reported the story on Page A4. Last week the Congressional Budget Office reported that the deficit would balloon to a record $400 billion-plus, and The Post again buried the story on A4. Spending trust funds, such as Social Security, is what keeps the estimate at $400 billion. The actual deficit will be approximately $600 billion.
That's a win for Mitch Daniels. The goal of the departed Office of Management and Budget director was to keep any news that could hurt President Bush's reelection prospects off the front page, and The Post willingly aided and abetted him. In fact, when Daniels left two weeks ago to run for governor of Indiana, he told The Post that the government is "fiscally in fine shape." Good grief! During his 29-month tenure, he turned a so-called $5.6 trillion, 10-year budget surplus into a $4 trillion deficit -- a mere $10 trillion downswing in just two years. If this is good fiscal policy, thank heavens Daniels is gone.