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Cheney says deficits dont matter { January 12 2004 } Original Source Link: (May no longer be active)    http://www.chicagotribune.com/news/nationworld/chi-0401120168jan12,1,6513294.story?coll=chi-newsnationworld-hed http://www.chicagotribune.com/news/nationworld/chi-0401120168jan12,1,6513294.story?coll=chi-newsnationworld-hed O'Neill says Cheney told him, `Deficits don't matter' Items compiled from Tribune news services January 12, 2004 WASHINGTON, D.C. -- Former Treasury Secretary Paul O'Neill said he was told "deficits don't matter" when he warned of a looming fiscal crisis. In a new book chronicling his rocky two-year tenure and in an interview with CBS's "60 Minutes" that aired Sunday, O'Neill also said President Bush balked at his more aggressive plan to combat corporate crime because of opposition from "the corporate crowd." O'Neill said he tried to warn Vice President Dick Cheney that growing budget deficits posed a threat to the economy. Cheney cut him off, O'Neill said. "You know, Paul, Reagan proved deficits don't matter," he said, according to excerpts. Cheney continued: "We won the midterms [congressional elections]. This is our due." A month later, in December 2002, Cheney told the Treasury secretary he was fired. The vice president's office had no immediate comment. John Snow, who replaced O'Neill, said Bush is committed to cutting the deficits in half over the next five years. Copyright © 2004, Chicago Tribune

Billions in federal lands sold off { December 3 2007 } Budget deficit hits 374b { October 20 2003 } Buffett attacks america as rich spending junkies { March 7 2005 } Buffett makes billions betting against dollar { March 5 2005 } Bush presides over biggest spending since 1990 Cheney says deficits dont matter { January 12 2004 } China holds the mortgage to the dollar { August 31 2005 } China loses faith in dollar Congress approves 1tr debt { May 27 2003 } Debt near ceiling again { February 20 2003 } Fd chair blames long term rates on world savings glut { March 20 2006 } Federal deficit estimated almost another trillion { January 25 2005 } Financial crisis if foreign investors pull out { November 21 2005 } Foreign investors finance US debt by 2b a day Government borrows billion a day { October 8 2004 } Greenspan leaves us with record debt { January 23 2006 } Greenspan warns not to pay down debt { March 22 2001 } Raise debt limit Raises debt limit { June 27 2001 } Republicans raise debt limits to 9 trillion { March 17 2006 } Short term yields above long term in reinversion Snowballing debt awaits taxpayers { December 1 2003 } Treasury needs to raise 8 trillion debt limit { February 2006 } UN calls for asian help US deficits { January 26 2005 } US debt tops 9 trillion for first time { October 2007 } War spending drives record deficit estimate Whitehouse urges raise debt ceiling { May 20 2003 } Files Listed: 27

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