Bush Plan Would Raise Deficit by $1.2 Trillion
But this total does not include money for some relatively small costs--like the wars in Iraq and Afghanistan after this year.N.Y. Times
: WASHINGTON, March 3 — President Bush’s budget would increase the federal deficit by $35 billion this year and by more than $1.2 trillion over the next decade, the Congressional Budget Office reported on Friday.
The nonpartisan budget office said that Mr. Bush’s tax-cutting proposals would cost about $1.7 trillion over the next 10 years and that his proposals to partly privatize Social Security would cost about $312 billion during that period.
Truthdig says: But this total does not include money for some relatively small costs–like the wars in Iraq and Afghanistan after this year.
TRUTHDIG’S JOURNALISM REMAINS CLEARThe storytellers of chaos tried to manipulate the political and media narrative in 2025, but independent journalism exposed what they tried to hide.
When you read Truthdig, you see through the illusion.
Support Independent Journalism.
Environment
More than half of discretionary spending goes to the military. Only a tiny fraction addresses the most urgent threat to our security.
Editorial Cartoons
Military
A new budget loophole will send Pentagon spending soaring even higher.
Politics
House GOP says Pentagon budget is safe—but social security and Medicare aren't.
The budget proposal offers a terrifying preview of what we can expect from Trump if he wins another four years in office.
Deficits averaging 4.8% of GDP are foreseen over the course of the coming decade; experts say anything above 3% is unsustainable.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.