Bush Opposes 'Radical Steps' On Budget Gap --- 'Steady Restraint' Needed, Nominee Says, in Noting The Growing Economy
SANTA CLARA, Calif. -- George Bush played down the need for any "radical steps" to cut the $155 billion federal budget deficit after the election, arguing that "steady control, steady restraint" will correct it.</br></br>The Republican presidential nominee insisted he considers deficit reduction important, but his steady-as-you-go prescription suggests he would attach less urgency to assembling any big deficit-reduction package than some lawmakers and business executives would. He suggested that short-term worries about the deficit will be eased as long as the economy is growing and pushing up government revenues.</br></br>"The larger the {economic growth}, the more reasonable it is to stay with projected reduction targets" for the federal deficit, Mr. Bush said in an interview. "In other words, if you're making a lot of money you can owe a little more money."</br></br>Mr. Bush was dismissive of the National Economic Commission, a bipartisan panel that is studying ways to attack the deficit. Many business and political leaders see the commission as providing the political cover necessary for a new president to deal effectively with the deficit problem. But many conservatives worry that commission members will recommend a tax boost as part of a deficit-cutting package.</br></br>"My message to them is very simple: I'm delighted you were willing to make some suggestions but listen to the American people," Mr. Bush said. Commission members "are not elected, and congressmen are and a president is."