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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: sea_biscuit who wrote (353614)	2/4/2003 6:28:54 PM
From: American Spirit	Read Replies (2) \| Respond to of 769670

WASHINGTON (Reuters) - Administration officials fanned out on Capitol Hill on Tuesday to try to sell President Bush (news - web sites)'s $2.2 trillion budget plan in the face of open hostility from Democrats and dire skepticism from some Republicans concerned about its projections of record government deficits. Bush's 2004 budget forecasts deficits of $304 billion this year and $307 billion in 2004, topping the prior high of $290 billion in 1992, with total shortfalls reaching $1.1 trillion over the next five years. At the same time, it proposed $1.5 trillion in new tax cuts over the next decade. The White House argues (dishonestly) the new cuts, coupled with (no) strict restraint of government spending outside of the military and homeland security programs, will help to boost the sluggish economy and, ultimately, to move the budget back to balance. "Today's (reckless ballooning) deficit, while unwelcome, was unavoidable (not at all unavoidable), and is manageable (by who? when?)," White House Budget Director Mitch Daniels told the House of Representatives Budget Committee. "In fact, given a sputtering economy, it reflects appropriate economic policy." (only if you want economic collapse and more recessions) But with misgivings from Senate Republican moderates already dogging the centerpiece of Bush's tax plans, a proposal to slash taxes on corporate dividends, the rising deficit forecasts are also worrying some House fiscal conservatives. (as well it should) "I must say, this is a tough pill to swallow," Minnesota Republican Rep. Gil Gutknecht told Daniels. "It's going to be very difficult for me, at least, to justify to my constituents that we need additional tax relief." (in other words, GOP gets booted out in 2004 and many of them are seeing this in the cards)