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For Immediate Release: 
August 8, 2007
Contact Info: 
Stacey Farnen Bernards
(202) 225 - 3130


WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement this afternoon in response to the President’s remarks on the economy:


            “Receiving a lecture on fiscal responsibility from President Bush is a little bit like getting a lecture on the Freedom of Information Act from the Vice President.  That is, it strains credulity.


            “While the President crows that this year’s projected federal budget deficit will be only $205 billion, none of us should forget that this Administration inherited a projected 10-year budget surplus of $5.6 trillion when it took office.  In six short years, the Bush Administration has turned this projected surplus into more than $3 trillion in additional debt – and the President failed to veto even one spending bill sent to his desk by the Republican-controlled Congress during that time.


            “It is unfortunate that the President now seems determined to instigate a political fight with the Democratic majorities in Congress over appropriations bills, because the truth is that the differences in our spending proposals are actually quite modest.  I hope the President will put aside this political posturing and join us in negotiating spending bills that are reasonable and responsible.


            “Furthermore, the President's general statement that the economy is ‘thriving’ must come as news to millions of hard-working Americans who have seen real earnings growth and real household incomes decline over the last six years, even as health care, college tuition and energy costs have exploded.  No amount of Administration spin will convince these Americans that they are the beneficiaries of a so-called ‘thriving’ economy.


            “Democrats in Congress will continue to fight for fiscally responsible policies that make crucial investments in our security, education, health care and other national priorities.”