The Democrats have their budget out:
House and Senate Democratic leaders reached agreement on Wednesday on a $2.9 trillion budget for 2008 that envisions a return to budget surpluses by 2012 and assumes that some of President Bush’s tax cuts will be allowed to expire.
The five-year blueprint, which is primarily a declaration of basic principles, represents a broad alternative to President Bush’s agenda. It calls for more money for children’s health care, education and a wide variety of other domestic programs.
While it calls for a two-year extension of Mr. Bush’s tax cuts for middle-class families, which are now set to expire at the end of 2010, it assumes that Mr. Bush’s signature tax cuts on stock dividends, as well as rate cuts for people in top brackets, will be allowed to expire.
The House and Senate are expected to vote on Thursday on the plan, and both are likely to pass it. That in itself would be a significant accomplishment, one that eluded Republicans, torn over spending cuts, when they were in control of Congress last year.
“It moves us in the right direction and to balance in five years,” said Representative John M. Spratt Jr., Democrat of South Carolina, the chairman of the House Budget Committee. “On all the basics, our budget is better than the president’s.”
Republicans denounced the plan, saying it would inevitably lead to huge tax increases that would jeopardize economic growth.
Weren’t budgets just 1.8 trillion a year a few years ago? At any rate, Republicans probably will (and should) pitch a fit about certain aspects of this budget, but the last two administrations and the blind obeisance from the past few Congresses means they really can’t raise much of a fit. Bush and the Republicans never managed to even get a budget done on time, and it is hard to imagine what the RNC commercials denouncing the budget:
“Stop the Democrats. They are spending like… us.”
Zombie Santa Claus
Best part of the whole article:
Bush wants to cut and run, too! Why does Bush hate America? (Of course, that’s ignoring that his plan all along has been to constantly request supplemental spending bills for his wars, so maybe the article’s being a bit unfair to him. Why he’s done that mystifies me- laziness? Incompetence? Political bait and switch? All of the above?)
Zifnab
I’d say “Why aren’t the Dems taking Bush to task over this shit?”, but they really have been. The more interesting question is why no one else in front of a camera or behind a microphone rails against this monetary bullshit every time a Republican has the balls to talk about supporting the troops.
Zombie Santa Claus
The occupation has to start paying for itself one of these years. Looks like 2008, the troops are going to start living off the fat of the land. The free and prosperous Iraqi people will undoubtedly have no qualms about sharing some of their endless oil revenue with the troops maintaining their freedom and security. Bush is right to arrange this scenario.
The Other Steve
The Republican plan, which results in massive deficit spending is going to result in MASSIVE tax increases.
Zombie Santa Claus
Actually, Darrell told me once that the plan was to get China to attack Taiwan so that we could repudiate all of our debts and get off scot-free.
Yet John Cole would have you believe Darrell was not a spoof written by a team of his students.
RSA
For the party that’s given us “Clear Skies”, “Health Forests”, and “Secure Flight” initiatives, not to mention “compassionate conservatism” and “full confidence [in someone I’m about to fire]”, I don’t think it’s hard to imagine the RNC commercials.
Northman
You’re kidding right? When has their past behaviour and blatant hypocrisy ever stopped these guys from launching the most scathing attacks possible across the aisle?
Pb
This looks to be roughly in line with the OMB estimates of the budget–status quo, baby!
And yes, the budget in 2000 was $1.79 trillion; since then, it has risen by 6.8% a year over 6 years, whereas the growth rate over the previous six year period was 3.2% a year. Revenues, on the other hand, have only risen 3.2% a year over six years, whereas they had been rising at a rate of 8% a year over the previous six years.
Zifnab
But its trickle down economics. If you pour gallons of money into the hands of ultra-conservative military contractors, mercenery companies, civilian construction firms, and political friends then this money will inevitably trickle down, like waste water leaking out of a broken sewage main in an Iraq Police Academy, onto the heads of the American People.
Thus, after cutting the taxes on the super-rich mega-firms that you just paid huge amounts of cash, you can recoup by slashing programs to the poor and disabled, thereby allowing the costs to pay themselves.
The system is brilliant in its effiency.
timeisart
The war in Iraq will not require financing after 2009? Our brave Iraqi comrades stood by and watched while three American soldiers were killed last year. The U.S. is a big rich fish being played by the entire nation of Iraq. The possibility that we will still be Iraq’s big, dumb sucker through 2009 is nauseating.
Tsulagi
See, now this is why you lefties can’t be allowed to be in charge. You don’t think in the proper scale. “Gallons” of money? Please!
It may be called trickle down, but you’ve got to have a manly stream. Everyone knows you need C-130s loaded with tons of $100 bills in bricks to get the job done. If you happen to lose a palty $8 or $9 Billion in bricks along the way when doing your bag jobs during an adventure, well, everyone knows freedom isn’t free.
Zombie Santa Claus
That’s the kind of collateral damage you WANT to hit your house. I’ll take a smashed home if it’s $2 billion in cash that does the crushing.
Tax Analyst
Don’t count your schickels before they’re schicked…that’s what Grandpa always said…I think that’s why we had him committed, come to think of it…Anyway, my point here is to be careful what you wish for…or at least more specific in how you want it…you could end up having $2 billion dollars in pennies, nickels and quarters dropped on your abode…talk about “Shock & Awe”…if you’re not immediately crushed by it all you’ll probably spend the rest of your life shittin’ and spittin’ change for a dollar.
Scruffy McSnufflepuss
That’s a small price to pay for finding enough money to do your laundry every time you floss- or enough to order Papa John’s every time you visit the commode.
scarshapedstar
Not really.
“President Bush says we should use your hard-earned tax dollars to fight the terrorists. Democrats say we should give it to illegal immigrants. Call your congressman. Ask him why he hates America.”
What really irks me is that if I had some connections I could have netted 50 grand for that.
Tax Analyst
You know, that’s a point I hadn’t considered. And I should have – you wouldn’t believe how much trouble I had getting enough quarters to do my laundry Sunday morning…I went to the grocery store and bought some stuff and asked if they could sell me $10…but the change drawer wasn’t counted yet or some such BS…
I’ll remember the possible future convenience if I’m ever bombarded with tons of change from the sky…Thanks!
Zifnab
Don’t worry Star. Republican Bullshit is a growth industry. They’ll have to start outsourcing sooner or later.