WASHINGTON - President Bush sent Congress a $2.77 trillion budget plan Monday that would make his first-term tax cuts permanent while reducing government-funded programs to deal with exploding budget deficits. Almost a third of the 141 targeted programs are in education.
The plan also calls for an increase in spending on the war against terrorism and a squeeze on Medicare funds.
posted
more smoke and mirrors? or is this a signal we're cutting back? However, the deficit of $354 billion that the administration is projecting for 2007 probably will be higher because the budget at present contains only $50 billion in spending for Iraq
Money for drilling? Bush’s budget also projects receiving $4 billion over the next five years for drilling in the Arctic National Wildlife Refuge, something Congress has repeatedly refused to allow.
-------------------- Don't envy the happiness of those who live in a fool's paradise.
IP: Logged |
posted
The budget also shows war costs are escalating, from a monthly average of $6.8 billion in the budget year ended last Sept. 30, to a White House-projected average of about $10 billion a month this year.
posted
According to the Treasury Department, from 1776-2000, the first 224 years of U.S. history, 42 U.S. presidents borrowed a combined $1.01 trillion from foreign governments and financial institutions, but in the past four years alone, the Bush administration borrowed $1.05 trillion.
-------------------- "Those who would give up Essential Liberty to purchase a little Temporary Safety, deserve neither Liberty nor Safety."
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
