Bush unveils his 3.1 >trillion< dollar budget proposal

Bush unveils his 3.1 >trillion< dollar budget proposal

www.apnews.myway.com

WASHINGTON (AP) - President Bush sent the nation's first-ever $3 trillion budget proposal to Congress on Monday, contending that the spending blueprint will fulfill his chief responsibility to keep America safe.

The $3.1 trillion proposed budget projects sizable increases in national security but forces the rest of government to pinch pennies. It seeks $196 billion in savings over five years in the government's giant health care programs - Medicare and Medicaid.

But even with those restraints, the budget projects the deficits will soar to near-record levels of $410 billion this year and $407 billion in 2009, driven higher in part by efforts to revive the sagging economy with a $145 billion stimulus package.

(visit the link for the full news article)

LOL.

And guess where most of the funds are going? To fund his wars. GE will be raking in the billions while the rest of us suffer. Unless Congress actually grows some cajones and stops this...But their track record of standing up to the 'decider' has been laughable at best.

It will be interesting to see how we keep squeezing blood out of the turnip here.

www.apnews.myway.com
(visit the link for the full news article)

Besides the fact that $3.1 trillion is a joke, I wonder how much of that money actually gets used. We have all heard stories of huge amounts of money either disappearing or never being used for what it was intended. One other thing, not only will GE be raking it in, so will the Federal Reserve banks when it comes time to pay interest (note, I didn't say principal...INTEREST!)

Why not quadrillion dollars?

Originally posted by TheoOne
Why not quadrillion dollars?

They ran out of paper at the Treasury Department?

Another article on Dubby the dictator's latest fiscal catastrophy:

Bush budget sees bigger deficits as economy sags

WASHINGTON (Reuters) - U.S. President George W. Bush forecast the U.S. budget deficit would more than double in 2008 and blamed a softer economy as he unveiled a $3.1 trillion spending plan for fiscal 2009 on Monday that would nearly freeze domestic programs.

The White House projections were immediately criticized by both Democratic and Republican lawmakers who said the numbers may gloss over the full extent of the fiscal deterioration and failed to include the full Iraq and Afghanistan war costs.

With the economy teetering on the brink of a recession, Bush said the deficit would reach $410 billion for the budget year 2008 that ends on September 30 and $407 billion for fiscal 2009 that begins on October 1.

The budget makes military spending and the Iraq war its centerpiece, proposing a 7.5 percent increase for the Pentagon to $515 billion.

On top of that Bush also sought another $70 billion for the conflicts in Iraq and Afghanistan but that money is only expected to cover those costs for part of 2009. The administration said it would ask for more Iraq money later.

Full story:
www.reuters.com...

In related news, Health Experts call Bush's new plan DISASTROUS for health care:

Bush budget disastrous for health care, groups say

WASHINGTON (Reuters) - Health experts denounced President George W. Bush's 2009 federal budget request on Monday, calling it a disaster for the health of Americans and saying they would look to Congress to change it.

Bush's $3.1 trillion spending plan proposes a 7 percent cut in funds for the Centers for Disease Control and Prevention as well as less money for Medicare and Medicaid -- the joint federal-state health insurance programs for the poor and elderly.

The budget for the fiscal year starting October 1, 2009 would reduce spending on Medicare by $12.8 billion and lower federal funds for Medicaid by $18.2 billion over five years.

The National Institutes of Health and the Food and Drug Administration would receive more funds, but critics said the increases were too small to counteract rising costs.

"We are deeply troubled that funding for heart and stroke research at the National Institutes of Health is below medical research inflation for the sixth year in a row," said Dr. Daniel Jones, president of the American Heart Association.

"At a time when healthcare costs are skyrocketing, we should be investing more to keep Americans healthy instead of cutting funds for disease prevention," added Jeff Levi, executive director of the nonprofit Trust for America's Health.

Groups representing for-profit interests also complained.

"Today's budget blueprint would have a disastrous impact on the health care that millions of patients and families depend on," said Rich Umbdenstock, president and CEO of the American Hospital Association. Continued...


www.reuters.com...