The Mudcat Café TM
Thread #62901 Message #1664029
Posted By: Amos
07-Feb-06 - 04:34 PM
Thread Name: BS: Popular Views of the Bush Administration
Subject: RE: BS: Popular Views of the Bush Administration
Bush's $2.7 trillion budget shows true cost of Iraq war
Email Print Normal font Large font By Michael Gawenda, Washington
February 8, 2006
PRESIDENT George Bush has submitted a $US2.77 trillion ($A3.74 trillion) budget to Congress for 2007 that would boost military spending by 6.9 per cent to $US439.3 billion and would cut 141 government programs.
These include cuts to education and Medicare, the Bush Administration's prescription drug program for pensioners.
The military spending does not include the cost of the campaign in Iraq and Afghanistan, for which Mr Bush has requested an extra $US50 billion, but which Administration officials admit is just a starting point for what will be needed.
The Administration has already asked Congress for an extra $US120 billion for Iraq and Afghanistan this year.
The budget deficit for this financial year is expected to hit $US423 billion in the wake of hurricane Katrina and the Iraq war, but Mr Bush has included tax cuts of $US1.4 trillion over 10 years in his budget plan.
President Bush said the Administration's plan to halve the budget deficit by 2010 was "on track", but economic commentators were almost unanimous in their view that this was unlikely to be achieved.