Monday, February 06, 2006

How would you spend your tax dollars?

It said last week it would submit a supplemental spending request for $18 billion for hurricane relief for the current budget year and ask Congress for $120 billion to pay for the wars in Iraq and Afghanistan for the rest of this year and into 2007.
The war spending is on top of a nearly 5 percent rise in the Pentagon budget to $439.3 billion for 2007. Bush's budget would also provide about a 5 percent increase in spending at Homeland Security, not counting hurricane-recovery costs.

The administration has said the deficit for this year will top $400 billion, driven upward by the costs of the war in Iraq and rebuilding the hurricane-ravaged Gulf Coast.
In all, Bush targets 141 programs for elimination or sharp reductions for savings of $14.5 billion next year.
Because of the huge deficits, the administration will be forced to ask Congress in coming weeks to raise the national debt limit, now at $8.18 trillion.

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