May 29, 2003

The real reason Paul O'Neill was fired
(AFP) - In the midst of negotiating a steep tax cuts package, the US government shelved a report that showed the United States faces future federal budget deficits of more than 44.2 trillion dollars.

The Unelected Fraud's misadministration chose to keep the findings - commissioned by then-Treasury secretary Paul O'Neill - out of the 2004 annual budget report, London's Financial Times reported.

The Financial Times hinted that the decision not to publish the report may have been because the White House was campaigning for a massive tax-cut package that critics claim will expand future deficits.

The study, according to the same source, said that sharp tax increases, massive spending cuts or both are unavoidable if the US is to meet benefit promises to future generations.

O'Neill, who was fired last December, refused to comment. - From Yahoo News.

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