Wikipedia:Today's featured article/July 23, 2006

"Read my lips: no new taxes" was a famous phrase spoken by American Republican presidential candidate George H. W. Bush at the 1988 Republican National Convention in his acceptance speech on August 18. Written by speechwriter Peggy Noonan, the line was one of the most prominent soundbites from the speech. The impact of the pledge was considerable, and many believe it helped Bush win the 1988 United States presidential election. Once elected, however, Bush agreed to raise several taxes as part of a 1990 budget agreement. This has been attributed to a declining economy, ballooning budget deficits, and the need to compromise with the Democrat-controlled Congress. This reversal caused great controversy, especially in the more conservative wing of the Republican Party. In the 1992 presidential election campaign, Pat Buchanan made extensive use of the phrase in his surprisingly strong challenge to Bush in the Republican primaries. In the election itself, Bill Clinton also pointed to the quote as evidence of Bush's untrustworthiness, contributing to Bush losing his bid for reelection. (More...)

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