The White House Says Large Scale Government Borrowing Is “Fiscally Prudent.”

The White House has acknowledged that large scale government borrowing will be needed to finance Bush’s plan to create personal investment accounts to the Social Security system. Joshua Bolten, the White House's director of the Office of Management and Budget said, “I believe there's a strong case that this approach not only makes sense as a matter of savings policy, but is also fiscally prudent.”