To cover the costs of his tax cuts, the White House doesn’t supply projections beyond 2011. Its budget excludes the cost of Iraq and Afghanistan (to say nothing of Iran) after 2007. It omits the cost of fixing the Alternative Minimum Tax—which will total hundreds of billions over the next five years.
The week, the government will borrow $48 billion in financial markets as part of its quarterly debt issuance.
Bush signed a measure to cut $39 billion over five years from the Medicaid health care program for the poor, student loans and other programs.
He also pushed anew for extension of his first-term tax cuts and said if they were allowed to expire, growth and government revenues would suffer.
Two days after unveiling a $2.77 trillion budget plan that would cut or eliminate 141 programs, Bush said he had targeted programs that either were not performing well or were no longer needed. He has also proposed squeezing $36 billion in savings over five years from the Medicare health program for the elderly.
How is it that President Bush keeps saying that the tax cut would help pay down the deficit and grow the economy. Well tell me how long has the tax cuts been in place and what have they done to help pay down this deficit?
This year, we are $423 billion in debt and so far this tax cut has done nothing to help and now to keep this tax cut going. Mr. President you are hurting the average Americans by cutting the programs that help them.
What President has ever gave tax cuts during a time of war and said that it would help the economy and stimulate growth.
Mr. President, you must be so far up in your bubble that you cant even see what really is going on in this Country or maybe you just dont care.