WASHINGTON (AP) -- Democrats used their weekly radio address Saturday to lambaste President Bush's budget, saying it is using Enron-style accounting tactics to cover up the nation's burgeoning debt.
"The president's budget makes the Enron mistake -- understating our debt and endangering retirement benefits," Sen. Kent Conrad, D-N.D., said.
He said Bush's 10-year plan, including hefty tax cuts, would use up most of the Medicare and Social Security trust funds.
"The stakes could not be higher. This nation is about to be hit with a tidal wave of new retirees," Conrad said. "This is no time to divert Social Security and Medicare funds to other purposes."
Republicans say the recession and the war in Afghanistan have made deficits inevitable after four years of surpluses, and predict that tax cuts will stimulate the economy back into health.
"That is not the full story," Conrad said. "The biggest reason for a return to deficits and increasing debt is the size of the tax cut the president pushed through Congress last year."
Conrad suggested that the Democratic-controlled Senate would support Bush's demands for increased defense spending.
"Congress will stand shoulder to shoulder with the president in our war against terror," he said. "Our enemies must have no doubt that we are united in defense of this nation."
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