Monday, February 05, 2007

Bush's Budget Proposal

Its even worse than you would think. Of course, he wants to make the huge tax cuts for the rich permanent. And of course he wants to raise military spending. But don't worry, he's going to be fiscally responsible: he is proposing cutting Federal spending on healthcare and domestic programs. Of course the bottom line is that if this budget was enacted without any changes it would result in a massive increase in the Federal budget deficit.

One paragraph from the Post's article sums it up pretty well:
The proposal seeks to make permanent the tax cuts enacted in 2001 and 2003, costing the Treasury an additional $374 billion over five years. And it would slice nearly $96 billion over five years from Medicare and Medicaid, the government's health care programs for the poor and the elderly. The proposal would also cut spending at eight federal agencies -- including the education, environment and interior departments -- to below fiscal 2006 levels.

One word sums up my reaction pretty well: Oy!

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