Yesterday, after meeting with his economic advisers at the Treasury Department, President Bush "vowed to veto spending bills that exceed his targets" for the fiscal year 2008 federal budget while accusing congressional leaders "of plotting the largest tax increase in history to fund an additional $205 billion in discretionary spending over five years." "If the majority in Congress gets it way, American families, small businesses will face a massive tax hike," threatened Bush.
"Today, the President misled the nation about the budget Congress sent him," replied House Speaker Nancy Pelosi (D-CA). "The New Direction Congress passed a responsible budget that restores fiscal responsibility and makes up for the disastrous cuts the President has made to vital services for Americans." Congress's budget plan is only "seven-tenths of one percent different from his spending plan," she added.
In February, Bush presented a $2.9 trillion spending plan to Congress, "proposing to spend billions more to fight the war in Iraq while squeezing the rest of the government." The President's plan, which "relies on budgetary gimmicks and unrealistic assumptions" in order to appear fiscally responsible, freezes "the entire domestic side of
government" and would "force cutbacks that most Americans would view as painful and unnecessary." Despite Bush's budget bullying, Congress has stepped up to ensure that programs important to the majority of Americans remain solvent.
From Progress Report 8/9/2007
No comments:
Post a Comment