Congresswoman Nancy Pelosi

Pelosi: 'President's Misleading Claim Widens Credibility Gap'

February 24, 2003


Washington, D.C. -- President Bush told the National Governors Association today that "the Blue Chip forecast" predicts healthy economic growth next year if Congress passes his tax-cut plan. He first made the claim last week and repeated it again today, despite complaints from the editor of the Blue Chip Economic Forecast that the claim is factually incorrect and misleading.

"The President's comments today once again widen the credibility gap between his rhetoric and reality," said House Democratic Leader Nancy Pelosi. "The President continues to insist that his $1.5 trillion tax cut that largely benefits the wealthy will stimulate the economy, and that the Blue Chip Forecast endorses his plan. That is simply not the case.

"More than 400 economists, including 10 Nobel Laureates, have taken out a full-page ad in The New York Times to say that his plan will not create jobs. And we need to create jobs immediately, because since President Bush took office a total of 2.3 million private-sector jobs have been lost. This is the worst record on job creation of any President since the end of World War II. The Democrats have a better alternative. We are united behind a fair, fast-acting, fiscally responsible plan that will create at least 1 million new jobs this year."


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