8-22-2001: WASHINGTON, The following is House Democratic Leader Richard A. Gephardt's response to the President's speech at Harry Truman high school in Missouri:
"President Bush's speech today at Harry Truman high school in Missouri was an exercise in public relations, pure and simple. The President said his tax cut was important to American growth and spoke of investing in our nation's armed forces. He talked of reform for Medicare, privatization of Social Security, and said there was enough money to 'preserve and protect Social Security' and not dip into the Medicare trust fund.
"But the numbers don't add up. This week's projections from the White House Office of Management and Budget will show that even under a rosy economic scenario, the President's tax cut, highly favorable for the wealthiest one percent, will consume the entire available surplus, leaving no funds for every other priority which the American people want us to address.
"The President said the biggest threat to the budget was spending by Congress. If that's true, he should prevail upon the House Republican leadership to pass a new budget and re-evaluate all appropriations bills.
"The Congress this year has passed only spending bills asked for by the President. Over the last eight years under the Clinton administration, the country built the largest surpluses and paid off the greatest amount of debt in our history. Yet, in just over six months, the Bush tax cut has wiped out the surplus, invaded Medicare and stayed out of Social Security only by employing a ridiculous accounting gimmick.
"Harry Truman stood for investment in public education, Medicare, Social Security and our men and women in uniform. President Bush has supported these priorities with rhetoric, but not with his deeds. It is time for the White House to reckon with the true cost of the tax cut and figure out how to meet the challenges of Medicare, Social Security, and the other highest needs and greatest priorities of the American people. The President needs to present a new budget and explain how he will work with Congress to solve this mess of his own making."
