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Economic News, Data and Analysis

Budget Veto

Bush is threatening to veto some federal spending… I’ll let you guess which:
(A)

200 Billion for 1 year of Iraq
After smothering efforts by war critics in Congress to drastically cut U.S. troop levels in Iraq, President Bush plans to ask lawmakers next week to approve another massive spending measure — totaling nearly $200 billion — to fund the war through next year, Pentagon officials said.
If Bush’s spending request is approved, 2008 will be the most expensive year of the Iraq war.

(B)

$22 billion for domestic priorities
For many Democrats, the whole purpose of controlling Congress is to shift priorities by spending more on veterans, health care, medical research, education, law enforcement and public works. […]
…the amount in dispute is relatively modest: $22 billion, which represents 2.4 percent of the amount subject to annual appropriations and less than 1 percent of the entire federal budget.

And the answer is, of course, (B).
“Mr. Bush has threatened to veto 9 of the 12 appropriations bills. More significant, he has said that the total for all the bills cannot exceed the amount he requested in his budget…”

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