FOR IMMEDIATE RELEASE
Thursday, February 26, 2004
Contact: Kevin Zeese
Nader Slams Bush Deficits
Urges Perot to Speak Out
Dallas, TX: From Ross Perot's hometown, Ralph Nader called on all Americans concerned about the fiscal recklessness of the Bush Administration to respectfully request that Ross Perot speak out on the massive federal deficit, predicted by the General Accounting Office to go far into the future if not checked.
David Walker, Comptroller General of the United States, who heads the non-partisan US General Accounting Office, recently compared financial reporting of the US Government to "Enron, Worldcom and other business failures" asking: "Who would knowingly buy stock in, lend to, or do business with a company that conceals its true financial condition?" (David M. Walker, "The Debt No One Wants to Talk About," NY Times (op-ed) February 4, 2004.) This is very strong language for Mr. Walker.
The projected budget deficit for 2005 is $536 billion as detailed in a report by the Congressional Budget Office this January 26. The CBO projected a 10-year deficit of $1.9 trillion that could explode by another $5.4 trillion if all the expiring tax cuts are made permanent and discretionary spending continues to go up by the same rate it has for the past five years. The national debt of the United States grows at nearly $20,000 per second and each family's share of the debt is currently $96,000. According to Mr. Walker: "The long-term projected gap is now so large that we will not be able simply to grow our way out of the problem."
"Ross Perot is exceptionally credible on federal deficits. He made the issue a core of his campaign in 1992 when he received 19 million votes as candidate for President on the Reform Party ballot line. Citizens should urge Mr. Perot to speak out nationally. This is a call to his undeniable patriotism at a time of fiscal peril today, and for the children who will have to pay these bills and endure critical program cutbacks that will sap America's forward march into the future," said Mr. Nader.
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