Bush proposes budget cuts to lessen deficit

by on February 7th, 2005


WASHINGTON (Reuters) – President Bush on Monday proposed a $2.57 trillion budget that slashes domestic programs from farm aid to housing grants for the poor, as he sought to curb budget deficits that have soared on his watch.

Democrats derided Bush’s plan as a “hoax” because it excludes future costs for the Iraq conflict and massive borrowing required for his proposal to add private investment accounts to Social Security.

Bush, who inherited a budget surplus that switched to record shortfalls, wants to show Wall Street and fiscal conservatives he is serious about tackling deficits.

Etalkinghead Staff