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President George W. Bush meets with his economic advisors Thursday, Oct. 11, 2007, in the New Executive Office Building in Washington, D.C. "The deficit today is at 1.2 percent of GDP, which is lower than the average of the last 40 years. In other words, we have told the American people that by keeping taxes low we can grow the economy, and by working with Congress to set priorities we can be fiscally responsible and we can head toward balance," said President Bush in a statement to the press. "And that's exactly where we're headed." White House photo by Chris Greenberg
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