Welfare for the MIC
WASHINGTON (Reuters) - President George W. Bush said on Saturday that his upcoming budget proposal would emphasize restraint on domestic spending while putting defense and war costs for
"Cutting the deficit during a time of war requires us to restrain spending in other areas," Bush said in his weekly radio address. Previewing the fiscal year 2008 budget he will unveil on Monday, Bush also said it would show that his goal of erasing the deficit by 2012 could be accomplished while making his tax cuts permanent.
"Congress needs to make this tax relief permanent, so we can keep
An administration official has said that the president will request a total of $245 billion to finance the wars in
"Our troops deserve our full support, and this budget gives them the resources they need," Bush said, adding he would set as his top priority "keeping
Many Democrats have called Bush fiscally reckless and contend that his huge tax cuts were heavily skewed toward the wealthy and were unaffordable in the long run. The Congressional Budget Office, a nonpartisan agency that analyzes the budget, said in a report last month that achieving a balanced budget was possible by 2012.But its assumptions did not factor in either an extension of the Bush tax cuts or changes Congress is likely to make to shield middle-class Americans from the alternative minimum tax that initially was aimed just at the wealthy.
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