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Painful cuts and bigger deficits

Hmmm… the president’s budget will require painful cuts in programs, and no progress on deficit reductions…
… and these are the Republicans’ complaints!

Republicans warn Bush budget won’t cut deficit – Jan. 29, 2004
Republicans fight Bush budget plan
Lawmakers say Bush’s plan will mean painful cuts and will barely dent the deficit.
January 29, 2004: 3:44 PM EST
WASHINGTON (Reuters) – President Bush’s plans to sharply limit some federal spending next year will barely dent the deficit but could mean painful cuts in programs ranging from veterans’ health to medical research, Republican lawmakers who oversee the spending process warned Thursday.
Bush will send his fiscal 2005 budget to Congress Monday. In it, he will propose limiting the growth in federal discretionary spending outside of defense and homeland security to about 0.5 percent — far less than the rate of inflation.
White House officials call that “the foundation” of a plan to cut this year’s record federal budget deficit — which they are expected to project at between $520 billion and $530 billion — in half over the next five years.
[…]
But in briefing papers prepared for this weekend’s party retreat — expected to be dominated by budget debates — the Republican “appropriators” who actually divvy up federal funds each year noted even a complete freeze in the spending targeted by Bush would cut the deficit by only a “minimal” $3 billion.
[…]

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  1. The Clown Show Continues

    John S. Irons covers the clown show that is Bush administration fiscal policy: ArgMax Economics Weblog: Painful cuts and bigger deficits: the president’s budget will require painful cuts in programs, and no progress on deficit reductions… and these a…

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