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Bush's Budget for 2005 Seeks to Rein In Domestic Costs [View All]

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RamboLiberal Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-03-04 03:20 PM
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Bush's Budget for 2005 Seeks to Rein In Domestic Costs
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http://www.nytimes.com/2004/01/04/politics/04BUDG.html?...

Facing a record budget deficit, Bush administration officials say they have drafted an election-year budget that will rein in the growth of domestic spending without alienating politically influential constituencies.

They said the president's proposed budget for the 2005 fiscal year, which begins Oct. 1, would control the rising cost of housing vouchers for the poor, require some veterans to pay more for health care, slow the growth in spending on biomedical research and merge or eliminate some job training and employment programs. The moves are intended to trim the programs without damaging any essential services, the administration said.

Even with the improving economic outlook, administration officials said, the federal budget deficit in the current fiscal year is likely to exceed last year's deficit of $374 billion, the largest on record.

The Congressional Budget Office and the White House budget office have projected a deficit of more than $450 billion this year.

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