Bush Budget Neglects Nation’s Priorities, Senator says
Via a press release from Senator Conrad's office...
Washington – Senator Kent Conrad and his Senate colleagues were joined today by seniors, college students and children to call attention to the misguided priorities in the President’s budget proposal for Fiscal Year 2009.
“The sad reality is that the President’s policies have exploded the nation’s debt. Instead of paying our bills now, the President has been running up the charge card. And he’s handing the bill to our children and grandchildren,” Senator Conrad said.
Last week, President Bush released his proposed budget for FY09. The $3.1 trillion budget establishes the White House’s priorities for the United States for the next fiscal year. Bush’s final budget proposes continued tax cuts for the wealthiest Americans, while cutting domestic programs that benefit middle class families, such as Medicare, student loan programs, and first responders.
The President’s two-term fiscal record has resulted in an explosion of the nation’s debt. Senator Conrad noted that at the end of 2001, the year the Bush administration took office, gross debt was $5.8 trillion. Adding in the cost of Alternative Minimum Tax reform and ongoing war costs, gross debt will reach $10.4 trillion by the end of 2009.
This will translate into $34,106 in debt for each man, woman, and child in the country.
“The President has said that he wouldn’t pass on problems to future generations. But that is exactly what he is doing,” Senator Conrad said. “The debt buildup on his watch threatens our economic security and it threatens our children’s future. We can’t allow it to continue.”
Senator Conrad is the Chairman of the Senate Budget Committee. He was joined at today’s press conference by Senators Debbie Stabenow of Michigan and Bob Menendez of New Jersey.
Washington – Senator Kent Conrad and his Senate colleagues were joined today by seniors, college students and children to call attention to the misguided priorities in the President’s budget proposal for Fiscal Year 2009.
“The sad reality is that the President’s policies have exploded the nation’s debt. Instead of paying our bills now, the President has been running up the charge card. And he’s handing the bill to our children and grandchildren,” Senator Conrad said.
Last week, President Bush released his proposed budget for FY09. The $3.1 trillion budget establishes the White House’s priorities for the United States for the next fiscal year. Bush’s final budget proposes continued tax cuts for the wealthiest Americans, while cutting domestic programs that benefit middle class families, such as Medicare, student loan programs, and first responders.
The President’s two-term fiscal record has resulted in an explosion of the nation’s debt. Senator Conrad noted that at the end of 2001, the year the Bush administration took office, gross debt was $5.8 trillion. Adding in the cost of Alternative Minimum Tax reform and ongoing war costs, gross debt will reach $10.4 trillion by the end of 2009.
This will translate into $34,106 in debt for each man, woman, and child in the country.
“The President has said that he wouldn’t pass on problems to future generations. But that is exactly what he is doing,” Senator Conrad said. “The debt buildup on his watch threatens our economic security and it threatens our children’s future. We can’t allow it to continue.”
Senator Conrad is the Chairman of the Senate Budget Committee. He was joined at today’s press conference by Senators Debbie Stabenow of Michigan and Bob Menendez of New Jersey.
posted by Dem-NPL at 4:10 PM
<< Home