Kerry Vows a Return to Credible U.S. Budgeting

Yahoo! News ^ | 4/7/04 | Patricia Wilson - Reuters

[NormsRevenge]

WASHINGTON (Reuters) -

Democrat John Kerry (news - web sites) vowed on Wednesday to return the United States to credible budgeting with spending restraints and warned that President Bush (news - web sites)'s economic mistakes could lead to "fiscal cancer."

Portrayed by his Republican opponents as a typical tax-and-spend liberal but a self-proclaimed fiscal conservative, Kerry laid out a framework for cutting the record $500 billion U.S. deficit in half in four years while investing more in affordable health care and better education.

"Instead of a credible economic plan and an honest debate, our present leadership has given us the old politics of false and simplistic negative attacks," Kerry said in remarks prepared for delivery at Georgetown University. "Rather than debating real differences, the Bush campaign is engaged in the politics of deceit and distortion."

Under steady attack by Republicans for overblown campaign promises, Kerry said he might have to slow down some domestic proposals he made early in the race for the Democratic presidential nomination because of the ballooning deficit. He cited a plan for universal pre-school education and a program that would give free tuition to students attending state colleges in return for two years of national service.

The presumptive nominee proposed a return to the budget "pay-as-you-go" rules of the 1990s that capped discretionary government spending and required increases in entitlement benefits or cuts in taxes to be offset by other program cuts or other tax increases.

The rules expired in 2002 and the U.S. Congress is debating whether to reinstate them. The four-term senator from Massachusetts also committed to ensuring that domestic discretionary funding -- excluding defense and homeland security -- grows no faster than inflation.

Kerry said he would roll back Bush's tax cuts only for Americans earning more than $200,000 a year and use the money to pay for his $653 billion, 10-year health care plan as well as a $200 billion national education trust fund over the next decade.

He would also freeze or cut non-priority programs for a savings of $90 billion over 10 years. As examples, Kerry cited reducing by 100,000 the number of contractors employed by the federal government and cutting administrative costs by 5 percent.

Despite positive jobs news in March -- 308,000 positions created -- Kerry said Bush seemed to think that one month "can make up for three years of massive job losses" and charged the president with indifference to the plight of average Americans.

Calling the budget "the foundation of confidence" in America's economic future, Kerry pointed out that it had gone from record surpluses to record deficits under Bush despite his 2000 election pledge to impose fiscal restraint.

Kerry said every child born today would inherit a "birth tax" -- $20,000 in debt that he or she had no part in creating.

"A deficit reduction promise from George W. Bush is not exactly a gilt-edged bond," Kerry said. "Instead of short-term decisions to stimulate the economy, he made long-term mistakes that exploded the deficit."

If left unchecked, Kerry predicted the deficits could become "a fiscal cancer that will erode any recovery and threaten lasting prosperity."

Bush campaign spokesman Steve Schmidt said Kerry had "a growing credibility gap" on the economy and that his vow to create 10 million jobs was on "a collision course with his nonsensical budget numbers."

Bush and his Republican allies have warned in television ads and speeches that Kerry would raise taxes by $900 billion over 10 years to pay for health care and deficit reduction.

[NormsRevenge]

Democratic presidential candidate Sen. John Kerry (news - web sites)(MA) speaks about economic issues at Georgetown University in Washington, April 7, 2004. (Larry Downing/Reuters)

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On second thought... NYYAAHHHHH!!!!

[NormsRevenge]

[Puppage]

Kerry Vows a Return to Credible U.S. Budgeting

By cutting military & intelligence spending. Good think'n.

[NormsRevenge]

Democratic presidential candidate Sen. John Kerry (news - web sites), D-Mass., left, clasps hands with his wife Teresa Heinz Kerry as the two take the stage at a fundraising event at a hotel in Washington, Wednesday, April 7, 2004. (AP Photo/Steven Senne)

[Sprite518]

I love how Kerry just says anything he wants, and the media never ask him how he plans to do it. For instance, Kerry is saying he will create 10 million jobs in 4 years. How come no one has asked him how does he plan to do this? However, if a Republican says it, then they grill the candidate, and say it will not happen. We live in remarkable times!

[Support Free Republic]

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Your support makes us.

[petercooper]

Kerry laid out a framework for cutting the record $500 billion U.S. deficit in half in four years

4 years?? Give me 11 seconds and I'll have that $500B deficit turned into a $4 Trillion surplus.

[Wicket]

I think this article needs a bwah-ha-ha-ha-ha!!!

[CyberAnt]

Sooooo .. Kerry's going to return to faking the numbers on the economy by 30%.

At least that's what Don Evans found out when he took over the Commerce Dept and started reconciling the books.

Kerry's a lying sack of puke!!

[GottaLuvAkitas1]

Kerry Vows a Return to Credible U.S. Budgeting

Yup this is the guy who can not stomach Bush's "tax cuts for the rich", but can't remember what he spent his tax return money on.

[verity]

!

[easonc52]

Kerry is a wonder... even more of a wonder is how anyone can take him seriously... although, unfortunately, too many are...

[NorCoGOP]

Democrat John Kerry vowed on Wednesday to return the United States to credible budgeting with spending restraints

"And I pledge that I will vote for it, just before I vote against it." BUMP

[GottaLuvAkitas1]

"For instance, Kerry is saying he will create 10 million jobs in 4 years. How come no one has asked him how does he plan to do this?"

We should tell him to stop holding 10,000 U.S. jobs HOSTAGE. If he cares so much about THE PEOPLE then help his country now! Why wait?

[wjcsux]

He also said the other day that health care, Social Security and Medicare won't be touched. These are the three black holes for your money!

[Sprite518]

I knew it. Its evil!

[MamaLucci]

Sorry, Jean, but we don't take advice on being "credible" from the likes of you.

[SolutionsOnly]

Kinda wish the GOP congress didn't give Kerry an issue like this, but I suppose they deserve it given their abandonment of fiscal discipline.

[Mark]

Little David was in his 5th grade class when the teacher asked the children what their fathers did for a living. All the typical answers came
up-fireman, policeman, salesman, doctor, lawyer, David was being uncharacteristically quiet, so the teacher asked him about his father.

"My father's an exotic dancer in a gay cabaret and takes off all his clothes in front of other men and they put money in his underwear.
Sometimes, if the offer's really good, he'll go home with some guy and make love with him for money."

The teacher, obviously shaken by this statement, hurriedly set the other children to work on some exercises and took little David aside to
ask him, "Is that really true about your father?"

"No," said David, "he works for John Kerry, but I was too embarrassed to say that in front of the other kids."

[Caleb1411]