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borgslayer
Rear Admiral
Joined: 27 Aug 2003
Posts: 2646
Location: Las Vegas
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 Wed Feb 23, 2005 11:40 pm Democrats: Bush plans loaded with debt |
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| Quote: | COLUMBIA, South Carolina (AP) -- President Bush's budget for 2006 fails to include the costs of the Iraq war and his plan to partially privatize Social Security leads the country deeper into debt, the top Democrat on the House Budget Committee said Saturday.
"Tax cuts, terrorism and recession have all taken their toll," and surpluses built during the Clinton administration "are now gone, vanished, replaced by deficits totaling almost $4 trillion," Rep. John Spratt of South Carolina said in the Democrats' weekly radio address.
"Although this reversal was evident three years ago, the administration's budgets have yet to change course," he said.
Spratt said the Republican-run Congress has raised the debt ceiling three times in four years, by a total of $2.2 trillion, to make room for Bush's budgets.
Every 18 months, the United States adds almost a trillion dollars to the national debt, he said.
"The budget excludes, for example, the cost of our deployment in Iraq and Afghanistan in 2006 and beyond, though we'll spend $100 billion during this year alone," Spratt said.
The startup cost for the administration's plan to overhaul Social Security will be $750 billion for the next 10 years, but Spratt said "not a dime of that is in its budget."
Bush wants to allow workers born after 1949 to convert up to 4 percentage points of their Social Security taxes to personal stock and bond investments.
Spratt said Bush's plan would add nearly $5 trillion to the national debt during its first 20 years, and set the stage for cutting benefits by half over time.
"If this plan becomes law, we will not see the budget balanced again in our lifetimes," he said.
Democrats also are concerned about Bush's spending cuts, Spratt said.
Bush wants to wipe out 48 programs in education, reduce veterans' health care money, cut rural and urban development, lower environmental protection and law enforcement and reduce Medicaid by $60 billion, he contended.
"Democrats believe that deficits matter," Spratt said. "That's why over eight years of the Clinton administration, we worked hard to balance the budget. And we succeeded. We moved the budget from record deficits to surpluses no one thought possible." http://www.cnn.com/2005/ALLPOLITICS/02/19/dems.radio.ap/index.html |
Some old news...
So anyways as part of this plan by El Presidente Bush, he plans to cut jobs of many police officers because he believes those jobs are useless and a waste of money.
He also suggested of raising taxes to somehow stop the deficit which he created through bad planning.
Wiping out 48 education programs would certainly ruin some teachers careers.
Reducing Veterans healthcare opportunities would say to Americans "he doesn't care for war verterans."
I have made some points.
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Founder
Dominion Leader
Joined: 21 Jun 2004
Posts: 12755
Location: Gamma Quadrant
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| Thu Feb 24, 2005 12:09 am |
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Yeah, you made one sided points. Im sure it isn't as simple as you are making it out to be. Sounds like the LEFT spin to me.
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Hitchhiker
Rear Admiral
Joined: 11 Aug 2004
Posts: 3514
Location: Ontario, Canada
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| Thu Feb 24, 2005 8:09 am |
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It's true that Bush's plans are debt-incurring. As far as I know, the U.S. is running trillion dollar deficits (and even if those numbers are exaggerated, they are not exaggerated by much).
The real question is not whether it shall incur debt, but whether it's worth it.
Conversely, the Canadian Federal Budget came out yesterday and everyone except the left wing seemed happy. The Liberals have proposed more spending for child care and military, tax breaks for middle-class . . . I'm not sure, but I don't think there's much for education and healthcare, which doesn't make sense. Hopefully this shall avoid a vote of confidence because the Conservatives have thrown their vote behind the Liberals. But the NDP and Bloc Quebe�ois aren't happy.
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