The President's 2005 Budget: A Summary
While the President's budget would eliminate some unnecessaryprograms, it is no sweeping reassessment of federal spending.
Stay updated with breaking news from Advanced Technology Program. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
While the President's budget would eliminate some unnecessaryprograms, it is no sweeping reassessment of federal spending.
The Obama Administration has used the recession as an excuse for a historic and permanent expansion of government and deficits. Only during the height of World War II has Washington matched current levels of spending (25% of GDP) and deficits (10% of GDP). Even after the recession, runaway spending is expected to keep annual budget deficits over $1 trillion, which could result in sharply higher interest rates, painful tax increases, and even a Greece-like economic crisis. Beyond our own economic consequences, dumping this staggering debt on future generations would be absolutely immoral.
(Archived document, may contain errors) 183 July 21, 1993 THE NATIONAL COMPETITBVENESS ACT (S. 4): A EftGH-TECH BOONDOGGLE
President Bush's fiscal year 2006 budget proposal is a strong step towards getting the budget back under control.
Every American family can relate -- things seem to be going well financially when disaster strikes. Maybe one of the children needs braces. Maybe the car has broken down.