Bush Sends $3.1T Budget To Congress

Big Increases For Defense Spending; Stimulus Package Reflected In Deficit Jump

(CBS/AP)  President Bush unveiled a $3.1 trillion budget on Monday that supports sizable increases in military spending to fight the war on terrorism and protects his signature tax cuts.

Mr. Bush reviewed the budget with his Cabinet. He held aloft a computer tablet that contained the budget details.

"This is a good, solid budget," the president said. "It's not only an innovative budget in that it's coming to Congress over the Internet. It's a budget that's balanced - gets to balance in 2012 and saves taxpayers money."

The spending proposal, which shows the government spending $3 trillion in a 12-month period for the first time in history, squeezes most of government outside of national security, and also seeks $196 billion in savings over the next five years in the government's giant health care programs - Medicare for the elderly and Medicaid for the poor.

Even with those savings, Mr. Bush projects that the deficits, which had been declining, will soar to near-record levels, hitting $410 billion this year and $407 billion in 2009. The all-time high deficit in dollar terms was $413 billion in 2004.

Mr. Bush's final full budget is for the 2009 fiscal year, which begins on Oct. 1. It proposes spending $3.1 trillion, up 6 percent from projected spending of $2.9 trillion in the current budget year.

"It's a budget that keeps important objectives. One, it understands our top priority is to defend our country so we fund our military as well as fund the homeland security," Mr. Bush said. "Secondly, the budget keeps our economy growing.

Bush also called on Congress anew to make expiring tax cuts permanent.

Bush said his plan would boost money for education, health, housing and helps make the tax code fairer.

"This budget is one that keeps spending under control," the president said. He said it would eliminate or reduce 151 "wasteful or bloated" programs, which would save taxpayers $18 billion.

"It also takes a hard look at entitlement growth over the next five years," Bush said.

"It's essential that we make sure that we deal with the uncertainties — the economic uncertainties we face," Bush said.

Part of the deficit increase this year and next reflects the cost of a $145 billion stimulus package of tax refunds for individuals and tax cuts for business investment that Mr. Bush is urging Congress to pass quickly to try to combat a threatened recession.

Mr. Bush projects that the deficit will decline rapidly starting in 2010 and will achieve a $48 billion balance in 2012.

But Democrats said that forecast was based on flawed math that only included $70 billion for the wars in Iraq and Afghanistan in 2009 and no money after that and also failed to include any provisions after this year for keeping the alternative minimum tax, originally aimed at the wealthy, from ensnaring millions of middle-class taxpayers. The Congressional Budget Office estimates that fixing the AMT in 2012 would cost $118 billion, more than double the surplus Mr. Bush is projecting for that year.

"This is a budget that sticks it to the middle class, comforts the wealthy and has a set of priorities that are not the priorities of the American people," said Senate Budget Committee Chairman Kent Conrad, D-N.D.

Even some Republicans faulted Bush's budget sleight of hand.

"They've obviously played an inordinate number of games to try to make it look better," Sen. Judd Gregg, the top Republican on the Budget Committee, said in an interview with The Associated Press.

"Let's face it. This budget is done with the understanding that nobody's going to be taking a long, hard look at it," said Gregg, R-N.H.

Mr. Bush's spending blueprint sets the stage for what will probably be epic battles in the president's last year in office, as both parties seek to gain advantages with voters heading into the November elections.

Mr. Bush proposes boosting spending to hire more diplomats at the State Department and in some areas of education such as Title I grants, the main source of federal support for poor students.

But at the same time, Mr. Bush seeks to eliminate 47 other education programs that are seen as unnecessary, part of 151 programs he is targeting to either eliminate or sharply scale back. A similar effort last year met with little success.

The 6 percent overall increase in spending for 2009 reflects a continued surge in spending on the government's huge benefit programs for the elderly - Social Security and Medicare, even with the projected five-year savings of $196 billion over five years. Those savings are achieved by freezing payments to hospitals and other health care providers. A much-smaller effort by Mr. Bush in this area last year went nowhere in Congress.

Social Security, Medicare, Medicaid and other so-called entitlement programs - where the government is obligated to pay benefits to all who are eligible - now account for half of the total budget, with the costs expected to continue rising rapidly in coming years as 78 million baby boomers reach retirement.

Mr. Bush had hoped to make overhaul of Social Security a top goal of his second term but his plan to introduce individual investment accounts went nowhere.

While Mr. Bush projects that total security funding in the areas of the budget controlled by annual appropriations will go up by 8.2 percent, he projects only a 0.3 percent increase in discretionary spending for the rest of government.

To achieve such a small boost, Mr. Bush would hold hundreds of programs well beyond what is needed to keep up with inflation. He also seeks to eliminate or sharply slash 151 programs he considers unnecessary.

Mr. Bush targeted many of the same programs last year but Congress rejected the effort.

[nggr]

wow,
if the pentagon could find that 2 trillion they "lost" announced back in 2001 by rumsfeld, we might not have had to cut benefits for medicare and medicaid.

[killtheliars]

Bush budget launches new Israel aid

Published: 02/04/2008

The Bush administration launched its new $30 billion defense aid to Israel in its proposed 2009 budget.

The $3 trillion budget, released Monday, includes $2.55 billion in defense assistance for Israel. That will increase in increments until 2013, when it will settle at $3.1 billion a year until 2018.

Israel this year received its final $2.4 billion payment in a $24 billion defense assistance package launched in 1998.

The Bush administration increased the amount partly as compensation to Israel for a planned $20 billion in U.S. arms sales to Saudi Arabia and its Arab neighbors.

The administration defends the overall package as necessary to contain Iranian hegemony and to spur Israel and moderate Arab nations to support Israeli-Palestinian peace.

[simonsez40]

Just looking at his smug rich mug and listening to him speak makes me nauseated - this man is cleary a champion for the rich and corporate crony''s. Cleary by his "SOUND" budget he''s telling all of middle class and anything below middle class to kiss off.

I''m all with impeachment - the sooner the better!

[kevboom]

A widely circulated Bin Laden quote states the following: "All that we have to do is to send two mujahedin to the furthest point East to raise a piece of cloth on which is written al-Qaeda, in order to make the generals race there to cause America to suffer human, economic, and political losses without their achieving for it anything of note other than some benefits for their private companies."

Which goes to show just how stupid Bush is for sponsoring a budget that invests in nothing but the military and its contractors for the sake of "defending" our country. It''s obvious the enemy counts on this stupidity to further spoil our economy. The biggest victory over al qaeda would come from addressing the paltry threat in the middle east with extreme quick-strike force in lieu of economy-crippling, decade-long occupations, to rebuild our once proud economy. Bush should resign in disgrace. Makes Michael Scott on "The Office" look like a Harvard scientist.

[sherriepie1]

We all agree Satan Bush has destroyed our once proud and independant Country there is only one thing to do IMPEACH IMPEACH IMPEACH!!!!!!! BRING THE EVIL ONE AND HIS SPAWNS TO JUSTICE ,,,,,WAR CRIMES LYING TO THE PEOPLE FUNNELING MONEY .................IM SURE THE LIST CAN CONTINUE but he must be stopped now before its toooooooooo late

[sherriepie1]

Why dont Congress start an investigation lets call it BUSHBATE NAD GET ALL BUSH SPECIAL INTEREST GROUP AND HIS CRONIES and do a survey of their holdings and financing and see how much they have changed since he has become the satan president.compare them to the hard working american people whose backs they are breaking..How many of those have used loopholes that have taken jobs away from the american people must we give up our basic needs like heath education homes jobs social security that weve paid into to... insure that they get wealthier and on our backs and on the backs of backs of our declining economy and the respect of the USAthat is now being looked at with disrespect and pity while we are being sold out so that they can buy homes on islands and undeveloped landswhere they pay no taxes but uesOUR resources to themselves up

[harp1963]

Is it 2009 yet? I can hardly wait.

[clemenhagen1]

We could very well have avoided the whole al Qaeda & Taliban mess had we spent 800 some million in Afghanistan and Pakistan following the funding of the mujahadeen vs. the Soviets. We have tradionally been pretty good at funding the destructive piece...someone made some serious coin selling all those stingers to the Afghan "freedom fighters" as Ronnie Reagan would say. But sticking around to rebuild and prevent the place from falling into chaos? Nah! Not our forte. How the heck you gonna steal people blind building schools and such nonsense. It''s called blowback...and we''ve beening reaping what we sowed every since we overthrew Mossadegh in Iran and Jacabo Arbenz Guzman in Guatemala back in the early 50''s. Chickens coming home to roost, as Malcolm X put it.

[tylenol6]

Bush also wants $830 million for Pakistan!!!!!!!!!!

[clemenhagen1]

Only a spoiled and egocentric brat like Captain Codpiece could inherit a huge surplus, squander it all, and then stand up there and boast of how the budget will be in balance again (after several more years of record deficits) in 2012, four years AFTER his pathetic fascist a#* leaves office.

P.S. - Hopefully most of you realize the budget deficits have been masked by the fact he and his cronies refuse to account for the money for the wars. The military budget (record level since WW II) gets factored in, but the wars get hidden "off the books" as emergency supplementals. And the Republicans consider themselves the Grandfather''s Party. Grandpa done sold the farm and parcelled off the next generation of kin. Lovely, ain''t it!?!

[j-whitman]

One thing I can guarentee --- Bush will continue his damage to this country untill the very last moment of his last day in office.

[j-whitman]

In Bush''s budget is the destruction of Medicare - It will gut Billions from it.

[sherriepie1]

you know what people think about it we are being sold to china but before bush lets us go to them we will be bled to death buy bush and his butcher friends we as a people need to stand together regardless of political party gender religion race seual prefernce and all other things we find to keep us apart as Americans and march on congress before they let thi ludicrous bill pass and why does bush want it signed so fast you better believe there is some type of hidden agenda..wake up people before its too late

[j-whitman]

incog-nito,,,, Yeah, I know... He had gender reassignment surgery & it didn''t fit.

[incog-nito]

OK everybody: singingrick is not the same as singinrick

[rowdytexan2]

You know, I have this visual in my head of Laura Bush going out on the balcony of the White House every night to have her smoke, looking up at the sky and saying, God help me, I''m going to have to get up in the morning and support this lying SOB another day.

[clemenhagen1]

Clinton: Inherited debt from Bush I - Final four years of Clinton? Four years of balanced budget - three years of a fiscal surplus, including a record 236 billion surplus. Projected surpluses would have allowed for payment of the debt along with investment in our future.
Bush II: Immediate deficits due to an irresponsible series of tax-cuts for the wealthy elites - this to go with corporate welfare in the form of taxpayer subsidies for corporate entities who often ship jobs (or corporate headquarters) overseas. Mercenaries and the privatization of war, along with record profits for the "oiligarchs" who seek to further plunder and pillage the middle-class.
In a word: fascism (the fusion of the political and corporate elites, using faux nationalism, fear, and blind patriotism to cover the loss of freedom and livlihood). Quite a sight to behold my fellow patriots! Especially you blind ones who have perpetuated this disaster with your support of Captain Codpiece and Crew.

[the74blaster]

President Bush unveiled a $3.1 trillion budget on Monday that supports sizable increases in military spending to fight the war on terrorism and protects his signature tax cuts.

This really says it all! The only thing Bush cares about it lining the pockets of his base (i.e defense contractors and the wealthy).

I would hope that after 7 years of this people would realize a vote for the GOP is a vote to keep things the way they are.

[the74blaster]

Posted by singingrick at 11:04 AM : Feb 04, 2008

Weren''''t you the same idiot calling everyone "Liberals" against the Iraq invasion and Bush, unpatriotic and unAmerican and crowing about how great Bush was and is?

Posted by waynabq,

The only comment I have is lets refrain from the name calling or holding someone to comments they may have made in previous posts.

We all have different thoughts and if we all work together we can make sure our nation is never hijacked again by people like our current leaders.

I would be happy to sit down and have a cold beer with singingrick anytime! He is an American just like you or I.

As far as Bushs budget goes, I''ll comment after reading the article.

However, I can assure you it won''t be praise for the Bush administration.

[brianbwb-2009]

Posted by waynabq,
Posted by mcv57

Yeah waynabq, don''t insult monkeys, they never did anything to you.