A political budget.Byline: The Register-Guard President Bush's $2.9 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. budget for the fiscal year that begins next October is more a political document than a spending plan. It's aimed at painting congressional Democrats into corners - and in this respect it succeeds. Meanwhile, prospects for a productive collaboration on the big fiscal issues of taxes and entitlements are slipping away. The numbers in Bush's budget add up only when they're squeezed, inflated and distorted beyond reason. For instance, the cost of the wars in Afghanistan The term Wars in Afghanistan may refer to:
Similarly, the budget anticipates the extension of tax cuts approved in 2001 and 2003. These tax cuts provide relief averaging $160,000 a year to people with incomes of more than $1 million, and will reduce federal revenue by $1.6 trillion over a 10-year period. The president softens the tax cuts' fiscal impact by proposing only a one-year alteration of the alternative minimum tax, which affects increasing numbers of middle-income taxpayers. That omission omission n. 1) failure to perform an act agreed to, where there is a duty to an individual or the public to act (including omitting to take care) or is required by law. Such an omission may give rise to a lawsuit in the same way as a negligent or improper act. inflates revenues in 2012 by $90 billion. Congress shows little stomach for cutting off funding for the war in Iraq, and the fighting in Afghanistan has enjoyed bipartisan support from the beginning. Even if withdrawals began today, war-fighting costs would reach into 2010 and beyond. And Congress is likely to provide relief from the alternative minimum tax, but shows little interest in allowing the tax cuts of 2001 and 2003 to expire. These items alone make the budget's projection of a $61 billion surplus in 2012 a fantasy. Nor is Congress inclined to go along with the president's overall spending plan, which amounts to increasing the budget for the military and restraining RESTRAINING. Narrowing down, making less extensive; as, a restraining statute, by which the common law is narrowed down or made less extensive in its operation. spending on just about everything else. The budget includes important increases in federal grants for college tuition The examples and perspective in this article may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. College tuition and funds for schools with large numbers of low-income students - but the overall growth of domestic spending would be held to a rate of 1 percent, which means most programs would shrink in the face of population growth and inflation. Spending for defense and homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States , in contrast, would grow 10.7 percent next year and 23 percent over five years, not including the cost of fighting in Iraq and Afghanistan. Congressional Democrats, fearful of being portrayed por·tray tr.v. por·trayed, por·tray·ing, por·trays 1. To depict or represent pictorially; make a picture of. 2. To depict or describe in words. 3. To represent dramatically, as on the stage. as weak on defense in advance of the 2008 elections, are likely to approve most of Bush's proposed military spending increases. Then they will approve more generous domestic spending, rejecting the president's proposals to cut such programs as Head Start, home heating assistance and health care for children in low-income families. Bush has never vetoed a spending bill, and the Democrats will have trouble matching the Republicans' profligacy Profligacy See also Debauchery, Lust, Promiscuity. Arrowsmith, Martin simultaneously engaged to Madeline and Leona. [Am. Lit.: Arrowsmith] Bellaston, Lady wealthy profligate; keeps Tom as gigolo. [Br. Lit. of recent years. The prospect of a surplus in 2012, already an illusion, will recede re·cede 1 intr.v. re·ced·ed, re·ced·ing, re·cedes 1. To move back or away from a limit, point, or mark: waited for the floodwaters to recede. 2. still further. The budget will achieve its political aim of putting the Democrats in a position to be labeled as tax-increasers, budget-busters or both. Meanwhile, $3 trillion has been added to the national debt since the federal government last posted a surplus in 2001, and the pending insolvency insolvency Condition in which liabilities exceed assets so that creditors cannot be paid. It is a financial condition that often precedes bankruptcy. In the context of equity, insolvency is the inability to pay debts as they become due; insolvency under the balance-sheet of Social Security and Medicare remain unaddressed. Bush and Congress have a key moment of opportunity before the next election campaign shifts into high gear. The president's budget reflects a willingness to let that opportunity pass. |
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