Congress is now working on a final budget, a $2.3 trillion budget with a $521 billion deficit. That deficit shows that it is impossible to finance three wars with three tax cuts and expect a different result. Never before has anybody waged a war with a tax cut. What the result is, we have three wars going on, and we have three tax cuts, and we have $521 billion in deficit. The budget proposed by the President and the Republican majority repeats the same mistakes that resulted in a jobless economy and a wage and benefit recession for Americans with the lowest growth in wages in the last 30 years. This budget, the $2.3 trillion budget, continues the same failed economic policies that have given us 43 million Americans without health insurance, 2 million more Americans who have moved into poverty out of the middle class, only a growth of 1 percent in wages in the last 3 years, 2.5 million Americans have lost their jobs, and nearly $1 trillion worth of corporate and individual assets have been foreclosed on. During the 2000 Presidential campaign, President Bush declared he was against nation-building. Well, who knew that he was talking about America when he said he was opposed to nation building. This budget and the President's vision are really the tale of two budgets: one for America and one for Iraq. We have spent nearly $150 billion in Iraq on the occupation and war, but without promising America the same future we are now committing to Iraq.
Editor's note · Context
Addressing the implications of the proposed budget and its impact on the economy and social issues.
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