Monday, February 07, 2005
Bush Proposes Steep Cuts in $2.57T Budget.
WASHINGTON - President Bush proposed a $2.57 trillion budget Monday that erases scores of programs and slices Medicaid, disabled housing and many more but still worsens federal deficits by $42 billion over the next five years.If a 1% cut is a so-called "steep" cut then what would a 50% cut be?
In one of the most austere presidential budgets in years — one that faces precarious prospects in Congress — Bush would give nine of the 15 Cabinet-level departments less money in 2006 than they are getting this year. Overall, he would cut non-security domestic spending — excluding automatically paid benefits like Medicare — by nearly 1 percent next year. Bush said it was the first such reduction proposed by the White House since President Reagan's day.