National deficit Essay

This essay has a total of 583 words and 3 pages.

national deficit

As one of the top ten concerns in this years presidential election, the national deficit
has been given some attention by both presidential candidates. But the candidates can only
make promises to the public on this issue, stating that they will cut the national deficit
in half , by 2009. Since both George W. Bush and John Kerry have the same goal, the
examination begins on how each of them plan to achieve it.

When President Clinton took office, he reduced the national debt by 10% in his last five
years. But as Bush took the presidential seat in 2001, he reversed this progress and is
now predicting that he will achieve the highest ratio of Gross National Debt to the Penny
(GDP) in 50 years, if we re-elect him.(http://zfacts.com/p/318.html)

"When Bush took office, there was a surplus of $236 billion, according to the Office of
Management and Budget. By the end of 2004, a record $413-billion deficit is expected
because of tax cuts, spending on national security, Iraq and Afghanistan and interest on
the debt." (http://www.freep.com/news/politics/taxgrid23e_20041023.htm)

President Bush blames the deficit on the recession, the rise in military and homeland
security spending, and tax cuts, which he believes were needed to encourage the economy.
He has said holding off on "non-homeland security and non-defense spending combined with
economic growth will make it possible to cut the deficit in half over the next five
years." He still plans to try and make his tax cuts permanent, which have "affected both
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