Monday, December 06, 2010

Cheyney said 'deficits don't matter'... remember?

Ok so where were the Teabags when Dick Cheyney said this? And now, they stand firm with no compromise ever considered, on their platform that deficits don't matter... as long as wealthy folks benefit. Its incredible that they get so much support, from some folks who have nothing, and worse, on government assistance. We are living in a time of insanity.

[[[

Cheney to Treasury: "Deficits don't matter"

Former Treasury Secretary Paul O'Neill was told "deficits don't matter" when he warned of a looming fiscal crisis.

O'Neill, fired in a shakeup of Bush's economic team in December 2002, raised objections to a new round of tax cuts and said the president balked at his more aggressive plan to combat corporate crime after a string of accounting scandals because of opposition from "the corporate crowd," a key constituency.

O'Neill said he tried to warn Vice President Dick Cheney that growing budget deficits-expected to top $500 billion this fiscal year alone-posed a threat to the economy. Cheney cut him off. "You know, Paul, Reagan proved deficits don't matter," he said, according to excerpts. Cheney continued: "We won the midterms (congressional elections). This is our due." A month later, Cheney told the Treasury secretary he was fired.]]]


http://www.ontheissues.org/2004/Dick_Cheney_Budget_+_Economy.htm

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