Bush looking at freezing domestic spending
Posted: Fri Dec 17, 2004 6:06 pm
http://www.cnn.com/2004/ALLPOLITICS/12/17/...g.ap/index.html
WASHINGTON (AP) -- The White House is telling federal agencies to expect lean budgets next year, with congressional aides and lobbyists saying President Bush appears ready to propose freezing or even slightly cutting overall domestic spending.Targeted would be all annually approved programs except for defense and domestic security. Excluding those two would leave a part of the budget the administration estimates will total $388 billion for the fiscal year that began October 1. Also excluded are automatically made payments like Social Security and interest on the federal debt.
Bush's stringent approach comes as record federal deficits that hit $413 billion last year hinder his ability to pay for overhauling Social Security and extending his tax cuts. He also has tied the budget shortfalls to the weakening dollar, and pledged to reduce red ink to help prop up the currency.
Archived topic from Anythingforums, old topic ID:1465, old post ID:18731
WASHINGTON (AP) -- The White House is telling federal agencies to expect lean budgets next year, with congressional aides and lobbyists saying President Bush appears ready to propose freezing or even slightly cutting overall domestic spending.Targeted would be all annually approved programs except for defense and domestic security. Excluding those two would leave a part of the budget the administration estimates will total $388 billion for the fiscal year that began October 1. Also excluded are automatically made payments like Social Security and interest on the federal debt.
Bush's stringent approach comes as record federal deficits that hit $413 billion last year hinder his ability to pay for overhauling Social Security and extending his tax cuts. He also has tied the budget shortfalls to the weakening dollar, and pledged to reduce red ink to help prop up the currency.
Archived topic from Anythingforums, old topic ID:1465, old post ID:18731