Monday, April 03, 2006

Federal Budget - Growth in federal spending unchecked: "The federal government is currently spending 20.8 cents of every $1 the economy generates, up from 18.5 cents in 2001, White House budget documents show. That's the most rapid growth during one administration since Franklin Roosevelt.

RELATED: How federal spending has climbed since 2001

There are no signs that the trend is about to turn around. The House Budget Committee last week rejected a proposal that would require spending hikes to be offset by cuts in other spending or by tax increases.

This week, the House is scheduled to debate the $2.8 trillion budget for 2007, which projects an additional $3 trillion of debt in the next five years.

The Sept. 11 attacks, the wars in Afghanistan and Iraq, and Gulf Coast hurricanes account for only part of the increased spending.

Other factors: the biggest military buildup in decades, domestic spending, and the rise of benefits for the elderly, poor and disabled."

Some terrible budget descions: Education bill, farm bill, Medicare, Katrina aid.
He's tried to fix it: Social Security, tax code.
What he's done right: 8% Military Buildup, Homeland security, and Tax Cuts.

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