Exerpts from speech by Pres. Bush on Feb 27 2001 re: the budget of the United States of America. Please note, he isn't talking about his personal budget (and we don't know if he can balance a checkbook) or that of a third world banana republic but instead the budget of the US. Note, this is before the tragedy of Sept 11 - but his ONE TRILLION dollar commitment should have covered that, eh?? :)
My budget has funded a responsible increase in our ongoing operations. It has funded our nation's important priorities. It has protected Social Security and Medicare. And our surpluses are big enough that there is still money left over.
Many of you have talked about the need to pay down our national debt. I listened, and I agree. (Applause.) We owe it to our children and grandchildren to act now, and I hope you will join me to pay down $2 trillion in debt during the next 10 years. (Applause.) At the end of those 10 years, we will have paid down all the debt that is available to retire. (Applause.) That is more debt, repaid more quickly than has ever been repaid by any nation at any time in history. (Applause.)
We should also prepare for the unexpected, for the uncertainties of the future. We should approach our nation's budget as any prudent family would, with a contingency fund for emergencies or additional spending needs. For example, after a strategic review, we may need to increase defense spending. We may need to increase spending for our farmers or additional money to reform Medicare. And so, my budget sets aside almost a trillion dollars over 10 years for additional needs. That is one trillion additional reasons you can feel comfortable supporting this budget. (Applause.)
We have increased our budget at a responsible 4 percent. We have funded our priorities. We paid down all the available debt. We have prepared for contingencies. And we still have money left over.