12 Jan 2004
Further damaging revelations about the internal workings of the Bush administration have been made by the former US treasury secretary, Paul O’Neill – this time about the economy. Mr O’Neill claims that when he raised concerns of a looming fiscal crisis he was told "deficits don’t matter". Mr O’Neill, who was fired in a shake-up of Bush’s economic team in December 2002, said in an interview with Time magazine that he tried to warn the vice-president [sic], Dick Cheney, that growing budget deficits – expected to top $500 billion this fiscal year alone – posed a threat to the US economy. Mr Cheney cut him off, according to the interview posted on the Time website yesterday. "Reagan proved deficits don’t matter," he said. Cheney continued: "We won the midterms (congressional elections). This is our due." A month later, Mr Cheney told the treasury secretary he was fired.
FROM: Citizens for Legitimate Government (CLG)