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President delivers proposed FY08 budget: state and local governments to feel the pinch: President Bush's FY08 budget proposes cuts to domestic discretionary spending and entitlement programs.(George W. Bush)
President Bush submitted his $2.9 trillion budget request for FY08 to Congress in early February The President's budget proposal was not offered in the spirit of compromise many experts anticipated in light of the new Democratic majority in Congress. Instead, the FY08 budget remained true to the President's priorities of security-related spending, including defense, homeland security;, and international relations ($700 billion in FY08), permanently extending the 2001 and 2003 tax cuts (a cost of $1.62 trillion over 10 years) and eliminating the deficit by 2012. At the same time, the budget proposal squeezes domestic discretionary spending for programs supported by ...
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