Richard Viguerie: Bush White House Hides True Scope of Federal Deficit

MANASSAS, Va., July 29 /PRNewswire-USNewswire/ -- The following is a statement
by Richard A. Viguerie, Chairman of ConservativeHQ.com, regarding the White
House projection of a $482 billion deficit for Fiscal Year 2009:

"The White House has issued figures indicating that President Bush and his
enablers in Congress will leave his successor with a budget deficit of $482
Billion for Fiscal Year 2009, which is a record. How's that for a legacy?

"As shocking as this deficit figure is, that's still not the true scope of our
budget woes because it excludes $80 billion in war costs and $227 billion
borrowed from the Social Security Trust Fund.

"The real budget deficit is therefore $789 billion.

"Under accounting trickery that would probably land the top officers of a
publicly traded company in jail, the money borrowed from the Social Security
Trust Fund -- and spent on anything and everything except Social Security
payments -- is not counted towards the budget deficit, although it is part of
our $9.49 Trillion National Debt.

"It's way past time for Washington politicians to have their own
Sarbanes-Oxley.

"But this is how corrupt Washington has become. Besides the dangerous
practice of massive deficit spending, which will saddle our children and
grandchildren with trillions of dollars of debt, the Bush White House and
Congress are conspiring to conceal the true nature and scope of the problem.

"This year's budget deficit will actually be $307 billion worse than the
politicians are saying. This fraud on the American people is a conspiracy of
silence by both major political parties.

"In stunning hypocrisy, the White House blamed the record budget deficit on
the slowing economy and the $150 billion stimulus package passed earlier this
year.

"No, Mr. President, the buck stops with you. Stand up and accept the
responsibility -- and your legacy -- for massively expanding government."

NOTE TO EDITORS:Richard A. Viguerie pioneered political direct mail and has
been called "one of the creators of the modern conservative movement" (The
Nation magazine) and one of the "conservatives of the century" (The Washington
Times). His latest book is Conservatives Betrayed: How George W. Bush and
Other Big-Government Republicans Hijacked the Conservative Cause (Bonus
Books), which, Jerome Corsi wrote in WorldNetDaily, is "destined to become a
classic of conservative thinking" and "may be the most important conservative
book written in the last quarter century."

SOURCE ConservativeHQ.com

Bob Sturm, +1-703-396-6974. After 6 PM Eastern time on weekends & holidays,
contact Vi Shields, +1-703-906-6542 or Bob Sturm, +1-703-307-8176, both of
ConservativeHQ.com