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(visit the link for the full news article)
President Bush introduced a $3.1 trillion budget on Monday that supports sizable increases in military spending to fight the war on terrorism and protects his signature tax cuts.
The spending proposal, which shows the government spending $3 trillion in a 12-month period for the first time in history, squeezes most of government outside of national security, and also seeks $196 billion in savings over the next five years in the government's giant health care programs...
Originally posted by Nyorai
It's no wonder the deficits are predicted to soar!
So how much total has he and his administration run not only the United States but also the world into debt?
Bush however claims that if his policies are followed it will equal a balanced budget by 2012. Yet Democrats say this math is flawed and is only half correct.
In his own words, "Two key principles guided the development of my budget -- keeping America safe and ensuring our continued prosperity... As commander in chief, my highest priority is the security of the American people."
He urges Congress to immediately pass a 145 billion stimulus package which is supposed to "combat a threatened recession".
www.cnn.com
(visit the link for the full news article)
[edit on 4/2/2008 by Nyorai]
"Two key principles guided the development of my budget -- keeping America safe and ensuring our continued prosperity... As commander in chief, my highest priority is the security of the American people."
.
Our nation has been working on a deficit for a long time, the United States does not earn enough to pay its import bill, and it doesn't save enough to finance the government's budget deficit
.
If the world is unwilling to continue to accumulate dollars, the United States will not be able to finance its trade deficit or its budget deficit. As both are seriously out of balance, the implication is for yet more decline in the dollar's exchange value and a sharp rise in prices