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.”