Kirk Watson: “President Bush is now touting the line item veto as the magic formula to get our deficit under control. Then why does…”

“President Bush is now touting the line item veto as the magic formula to get our deficit under control. Then why does the President not begin by actually sending Congress a balanced budget? For 5 years now, one of the President's main priorities has been to provide billions in tax breaks to his friends in the pharmaceutical and insurance industry, the oil and gas industry, and America's wealthiest elite. When the President provides these tax breaks to his friends, he increases the deficit and prevents the Federal Government from being able to properly address the concerns of hardworking Americans. There is no doubt the President has lost control of the deficit, piling mountains of debt on the backs of our children and grandchildren. Under President Bush, a projected 10-year $5.6 trillion surplus has turned into a $3.3 trillion deficit. This year the deficit is expected to reach $423 billion, the largest deficit in history. And yet the President suggests making his tax breaks to his friends permanent. ____________________”