IS KENNEDY REALLY BRAGGING ABOUT A $250 BILLION BUDGET DEFICIT?

10/31/2006

(ST. PAUL) 10/31/06 – Minnesota DFL Chair Brian Melendez released the following statement regarding Congressman Mark Kennedy’s latest false television ad and Kennedy’s attempt to brag about the national deficit dropping everyday. 

“Only in Washington can you create a record deficit – $413 billion dollars – and then brag about ‘reducing it’ to only $250 billion. How long will Congressman Kennedy continue to keep his head in the sand when it comes to fiscal responsibility? Minnesota families clearly can’t afford to keep Congressman Kennedy in Washington.”

Kennedy Ad Rhetoric: “The deficit is dropping every day.”

Reality:  Mark Kennedy Has Supported Budgets That Created A Record $413 Billion Deficit in FY 2004. FY 2006 Budget Deficit is $248 Billion.

Since 2001, Republicans Have Supported Federal Budgets That Have Turned A $236 Billion Surplus In 2000 Into A $413 Billion Deficit In 2004.

Since elected in 2001, Bush backed and Republican supported federal budgets have turned a $236 billion surplus into a deficit of $318 billion last year and projected $296 billion deficit this year.

According to the White House Office Of Management and Budget, in Fiscal Year 2000, the Federal budget had a surplus of $236.2 billion. In Fiscal Year 2004, the OMB cites a record budget deficit of $412 billion.

For FY06, the federal budget deficit ended at $248 billion.

[H Con Res 95, Vote #149, 4/28/05; H Con Res 83, Vote #104, 5/9/01; Democratic Press Conference, 5/9/01; Congressional Record, 5/9/01; H Con Res 353, Vote #79, 3/20/02; H Con Res 95, Vote #141, 4/11/03; S Con Res 95, Vote #198, 5/19/04; HCR 376, Vote #158, 5/18/06; Star Tribune, 1/4/01; New York Times, 1/21/01;OMB Historical Budget Table 1.1 (http://www.whitehouse.gov/omb/budget/fy2007/pdf/hist.pdf); Washington Post, 10/17/06; Washington Post, 7/12/06; ]http://www.whitehouse.gov/omb/pubpress/2006/factsheet_msr.pdf]

Historical Review Of National Deficits And Surplus, According To The Office Of Management And Budget.

Year...Deficit/ Surplus ($B)

1996
-107.431

1997
-21.884

1998
69.270

1999
125.610

2000
236.241

2001
128.236

2002
-157.758

2003
-377.585

2004
-412.727

2005
-318.346

[OMB Historical Budget, ]http://www.whitehouse.gov/omb/budget/fy2007/pdf/hist.pdf]