Feb
4

President Bush pushes $3 trillion budget to Congress


Mo Money Mo Money Mo Money
WASHINGTON (AP) — President Bush is sending Congress a $3 trillion spending blueprint that would provide a big boost to defense and protect his signature tax cuts. It seeks sizable savings in government health care programs and puts the squeeze on much of the rest of government, but it would still generate near-record budget deficits over the next two years.

Budget highlights
DEFICITS: The plan will claim deficits in the $400 billion range for this year and next

DEFENSE: The Pentagon would get a $35 billion increase to $515 billion for core programs, about 7 percent, with war costs additional

MEDICARE AND MEDICAID: The programs will see almost $200 billion in cuts over the next five years, about three times the savings proposed last year but rejected by Congress

HEALTH: Health and Human Services Department funding would be cut by $2 billion, amounting to a 3 percent reduction

HOMELAND SECURITY: Overall, the budget for homeland security programs will increase by almost 11 percent

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