CHN: Bush Administration Budget Unveiled
On February 5, the President’s FY 2008 budget was released. It contains domestic discretionary program cuts which begin in 2008 grow to $114 billion by 2012, the five-year period covered in the budget. At the same time, tax breaks for the wealthy are made permanent. The President claims on paper to balance the budget by 2012. He achieves this by excluding the real cost of the tax cuts and making unrealistic assumptions about revenues and economic growth. See CHN’s analysis at: http://www.chn.org/pdf/2007/bushbudget08.pdf.