The federal deficit fell to a four-year low in the budget year that just ended, a result President Bush pointed to Wednesday in claiming Republicans are better stewards of the economy than are Democrats. The administration said the deficit dropped to $247.7 billion - welcome news for Republicans struggling to keep control of Congress. Bush boasted he had made good on a 2004 campaign promise to cut the deficit in half over five years. "These budget numbers are proof that pro-growth economic policies work," Bush said.
Democrats said the improvement in the 2006 federal deficit was a temporary blip. They predicted rising deficits for years to come unless policies are changed. |