Talk about being a donor County. Let’s look at President Bush’s latest $2.9 Trillion dollar budget. Let’s see, CA, with roughly 36 million people out of 300 million in the U.S., represents 12 percent of our Nations population. Let’s deduct $600 billion for the Pentagon leaving 2.3 trillion dollars. Therefore we should get about $250 billion in services including new roads and infrastructure. Larry, you jest of course.
The good news is that while this budget represents a $244 billion dollar deficit in 2007 we will spend our way out of this red ink and end up with a $61 billion dollar surplus in 2012. “This will be our first surplus since 2001.”
Juice readers. Are you buying in to our streamlined government operations and revenue projections of this latest budget?
I am sorry that I am not posting an orginal thought, but I waited a day to see what Cato would have to say about the budget. This is Cato’s quick comment:
“The White House released its plans for the 2008 federal budget Monday. Costing nearly $3 trillion, the proposed budget is optimistic about future economic growth and fiscal discipline. Cato senior fellow Dan Mitchell comments: “The bad news is that the White House proposes to increase overall spending by 4.2 percent, significantly faster than needed to keep pace with inflation. But if the President holds firm on this number, it would be the smallest increase since taking office, so at least the country is headed in the wrong direction at a slower rate.” Cato scholar Stephen Slivinski, author of Buck Wild: How Republicans Broke the Bank and Became the Party of Big Government, adds: “[The budget] is composed mainly of programs that have been on the chopping block in each of the last two Bush budgets. Virtually none of the program cuts were enacted in those years. Instead President Bush seems content with simply photo-copying last year’s list instead of renewing a broader push for budget cuts.”