Bush submits $2.9 trillion budget to Congress
February 5, 2007
President Bush on Monday morning discusses the budget he sent to Congress earlier in the day.
WASHINGTON (AP) -- President Bush sent a $2.9 trillion spending plan to a Democratic-controlled Congress on Monday, proposing a big increase in military spending.
While the budget includes billions more to fight the war in Iraq, the rest of government would be squeezed to meet Bush's goal of eliminating the deficit in five years.
Bush's spending plan would make his first-term tax cuts permanent, at a cost of $1.6 trillion over 10 years.
He is seeking $78 billion in savings in the government's big health care programs -- Medicare and Medicaid -- over the next five years.
Release of the budget in four massive volumes kicks off months of debate in which Democrats, now in control of both the House and Senate for the first time in Bush's presidency, made clear that they have significantly different views on spending and taxes.
"The president's budget is filled with debt and deception, disconnected from reality and continues to move America in the wrong direction," said Senate Budget Committee Chairman Kent Conrad, D-North Dakota.
House Budget Committee Chairman John Spratt, D-South Carolina, said, "I doubt that Democrats will support this budget, and frankly, I will be surprised if Republicans rally around it either."
Sen. Judd Gregg of New Hampshire, the top Republican on the Senate Budget Committee, agreed with the bleak assessment of Bush's prospects of getting Congress to approve his budget as proposed....
http://www.cnn.com/2007/POLITICS/02/05/bush.budget.ap/index.html