From the Remarks by the President at the 2004 President’s Dinner at the Washington Convention Center, July 21, 2004:
It’s now been three and a half years since the Vice President and I took office. We’ve faced significant challenges. We have met them head-on. I believe it’s the President’s job to confront problems, not to pass them on to future Presidents and future generations. (Applause.)
From the President’s State of the Union Address, January 20, 2004:
In two weeks, I will send you a budget that funds the war, protects the homeland, and meets important domestic needs, while limiting the growth in discretionary spending to less than 4 percent. (Applause.) This will require that Congress focus on priorities, cut wasteful spending, and be wise with the people’s money. By doing so, we can cut the deficit in half over the next five years. (Applause.)
According to the Congressional Budget Office, by way of Calpundit, this still means a deficit of anywhere from $240 to $500 billion in 2009.
2009? That means that this deficit is a “problem” that President Bush (regardless of the outcome of this year’s election) will certainly not be around to confront.