I WAS WRONG
Written by Viguerie on Thu Jul 31 18:40:12 -0400 2008
My July 29 news release, Bush White House Hides True Scope of Federal Deficit, had a serious error that I must correct.

The real budget deficit, which I accused the Bush White House of understating by $307 Billion, is even worse than I said!

President Bush’s team left out of their 2009 budget shortfall projection the additional $36.6 Billion from the Housing Boondoggle, er, Bill, which was passed just last weekend.

This reminds us all, Congress is still in session, so the budget deficit could still increase and taxpayers’ wallets may be picked even more.

Here are the numbers:

Bush’s 2009 budget projection                 $482 Billion Deficit

My July 29 correction of Bush’s budget    $789 Billion Deficit

                                                                            $482 Billion Deficit

                                                                           + $80 Billion war cost

                                                                         + $227 Billion borrowed from the Social Security Trust Funds

My July 31 correction                                $825 Billion Deficit ($789 Billion Deficit + $36 Billion Housing Bill)

Therefore, the actual deficit is about 73% greater than Bush’s very misleading number

Americans feel that politicians regularly lie and mislead them. However, it’s sad and dangerous for the country when the President of the United States starts acting like another politician – parsing, dissembling, misleading – even lying.

President Bush owes the American people an apology for deliberately giving them wrong deficit numbers.

With most of our country’s major institutions facing major scandals and loss of respect by Americans--9% approve of Congress--President Bush should set an example and tell us the truth regardless of how it reflects on his Administration.”

(The July 29 statement is available at http://ultimatejohnmccain.com/blog_post/show/51.)
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