Pelosi: President's Assertions on the Economy Just Don't Hold Up

'After six years of reckless spending in Washington, President Bush is the last person who should brag about fiscal responsibility.  The President's short-sighted economic plans have proven a failure.  Rising health care, energy, and college costs have put the American dream out of reach for too many hard-working Americans.  And today, the President misled the nation about the budget Congress has sent him.

'The New Direction Congress passed a responsible budget that restores fiscal responsibility and makes up for disastrous cuts the President has made to vital services for Americans.  Our responsible budget is seven-tenths of one percent different from his spending plan. In the House, we have passed all 12 appropriations bills with bipartisan support, with an average of 50 Republican votes each.  And finally, our responsible budget restores pay-as-you-go budgeting, making no new spending commitment without a way to pay for it.

'While our budget difference is less than 1 percent, our priorities are dramatically different.  The President has chosen to give tax cuts for the wealthiest Americans and to spend $3,800 each second, more than $228,000 per minute, to keep our troops in the middle of a civil war in Iraq.  Democrats are instead focused on rebuilding our military and our National Guard, investing in protecting Americans from terror here at home, and taking care of our troops, their families, and our veterans.  We must redeploy our military might to defeat al Qaeda and be ready to respond and to deter any other threats to our national security.

'In just the last few weeks, this Congress has made remarkable progress to grow our economy with a plan to achieve energy independence, an Innovation Agenda that will boost our ability to compete in a global economy, health insurance for millions more children, an increase in the minimum wage, and the largest expansion of college aid since the GI Bill.

'The President took no questions after his report on the economy today because frankly, his assertions wouldn't hold up.  The question the President really should have answered today is this: 'After six and half years, what have you done to help restore the American dream?''