Tuesday, February 5, 2008
Bush's Final Budget Projects Huge Deficits
In the nation's first ever $3 trillion budget, President Bush seeks to seal his legacy of promoting a strong defense to fight terrorism and tax cuts to spur the economy. Democrats, who control Congress, are pledging fierce opposition to Bush's final spending plan. Perhaps they will even fight it until the next president takes office. The 2009 spending plan sent to Congress will project huge budget deficit, around $400 billion for this year and next and more than double the 2007 deficit of $163 billion. But even those estimates could prove too low given the rapidly weakening economy and the total costs of the wars in Iraq and Afghanistan. Did you ever wonder where all this money comes from in the first place? Mostly from the middle income taxpayers who are working so hard and it seems like no matter who is in Congress, they send out millions of dollars to their own little area that voted them in for a lot of unimportant stuff that could be gotten along without. I think if you could sit down and read all the lists of grants that are given out and what they are given out for, it would make you sick. I read once a guy got a $30,000 grant to study the sex life of a butterfly. I will never forget that one. Who cares?