On the heels of a $2.8 TRILLION dollar budget, a $70 billion dollar tax cut was signed for a two year extension. I'm using the Presidential request for the budget as a template, I don't have the one the Congress passed. But the president's is 2.77 trillion, while the congress passed a 2.8 trillion dollar budget. So for all I know CNN just rounded up, but it's close enough.
The budget plans for $50 billion dollars in War on Terrorism spending, but that figure is NOT included in the total and estimates a $423 billion dollar deficit.
Republicans are saying they are getting us back on the track to fiscal responsibility, decrying the liberal "tax and spend" economics. What the hell is wrong with tax and spend/Paygo? The basic idea of only spending what you have and not creating a ballooning debt sounds like smart fiscal policy to me. Hell, it USED to be supported by fiscal conservatives.
I could get behind the massive tax cut if there was an equal cut in spending, but to INCREASE spending whilst cutting income doesn't make sense.
15% of the budget, almost $440 billion dollars (a 7% increase over last year) goes for the military. A large chunk of the budget is allocated to a ballooning discretionary spending fund, and a myriad array of pork.
This is just ridiculous. The President should veto the budget and get cracking with Congress on a budget that actually makes sense. Congress doesn't have the votes to overturn his veto, it barely passed as it stood. Bush could reach out to Democrats and at the same time attempt to be an actual leader to his party be demanding a balanced budget.
I know that he's the one who sent this monstrosity there to begin with, but that doesn't mean he can't fix his own mistakes. Spending needs to be cut now, or taxes need to be raised, it's as simple as that. I think that means an immediate cut in the military. I support a strong military as much as the next guy, but as far as I'm concerned, a 48% increase in the Department of Defense since 2001 is insane.
The US economy grew by the largest amount, and at the fastest pace during the second world war, when taxes were, at the time, at their highest level in history. Expensive wars demand more income, not less. I'm not convinced that these tax cuts are even what is spurring economic growth (at least, not ALL of the Tax Cuts). Cuts made to buisness taxes I can see, especially small and new businesses. But for the personally wealthy, or for that matter individuals at all, I don't see that argument at at all.
This president claims he's tough. He's tough on terror. Tough on crime. Tough on border securty. Why can't he be tough on paper and veto this horribly overgrown budget? or be tough on his own party and actually guide them instead of leading from the rear (or should I say FOLLOWING from the rear)? For once, I almost wish we could elect a Congress full of accountants into Washington. At least they would realize that when you spend money, you'll have to pay it back eventually. I remain unconvinced that Congress is aware of this fact.
When is our government going to get serious about controlling the budget?
Posts: 21898 | Registered: Nov 2004
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The chances of Bush vetoing this budget are about the same as me finishing this post and returning immediately to my sociology assignment. Posts: 2907 | Registered: Nov 2005
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The catch is this is an election year. Politicians want to brag to their constituencies that they can bring home the bacon.
Posts: 264 | Registered: Nov 2005
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quote:Originally posted by enochville: The catch is this is an election year. Politicians want to brag to their constituencies that they can bring home the bacon.
And this year, more than on average, it behooves the republicans to do whatever they can to make sure people are happy with their incumbents.
Posts: 6394 | Registered: Dec 1999
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Set asides should be banned from the budget process entirely. Or require separate passage by a 2/3 vote of both chambers on each separate item.
Posts: 22497 | Registered: Sep 2000
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