Free Republic

=============================== NEWS FROM THE LIBERTARIAN PARTY 2600 Virginia Avenue, NW, Suite 100 Washington DC 20037 World Wide Web: http://www.LP.org =============================== For release: February 5, 2003 =============================== For additional information: George Getz, Communications Director Phone: (202) 333-0008 Ext. 222 E-Mail: pressreleases@hq.LP.org =============================== Bush's dirty little budget secret: $10 in new spending for every dollar in tax cuts, Libertarians say WASHINGTON, DC -- If you think President Bush's tax cuts will save you money, guess again, Libertarians say, because the long-term spending increases in his new budget outnumber tax cuts by a ratio of 10 to 1. "Showing gratitude for Bush's tax...

Bush's Budget for the Dept. of Treasury By The Associated Press Agency: Department of Treasury Spending: $11.4 billion Percentage change from 2003: +3.5 percent Highlights: --Treasury gets a 3.5 percent increase when compared to a 2003 budget figure that was adjusted to reflect historic one-time transfers of key law enforcement agencies to the new Department of Homeland Security and the Justice Department. Without that adjustment, the 2004 budget request would represent a decline in funding of 28.4 percent from the previous year. --The biggest chunk of the agency's 2004 budget--roughly $10.4 billion--goes to the Internal Revenue Service. The IRS would...

WASHINGTON – President Bush's $11.4 billion Treasury Department budget includes $133 million for the Internal Revenue Service to crack down on "abusive tax schemes and tax shelters" allegedly used by high-income individuals and businesse to avoid paying federal taxes. The Treasury Department's budget reflects a 3.5 percent increase over last year. The biggest chunk of that budget – about $10.4 billion – goes to the IRS. It includes $429 million in a computer overhaul program that has been going on for years. The IRS expects to conducts more audits. The Financial Crimes Enforcement Network, known as FinCEN would receive $57.6...

<p>The Bush administration's fiscal 2004 budget shows an admirable reform spirit in its pro-growth tax cut proposals, support for private Social Security accounts, and government management initiatives such as competitive sourcing. But the administration has failed to tackle the serious overspending problem in the discretionary budget.</p>

<p>White House budget chief Mitchell E. Daniels Jr. yesterday challenged Democrats to come up with their own budget plan, instead of just criticizing President Bush's $2.2 trillion budget as irresponsible.</p> <p>"For all the speeches I hear when I come here, I never hear a plan different than the one the president proposes," Mr. Daniels said, testifying before the House Budget Committee. "And I am still waiting to hear which of the things he wants to do, given the situation we are facing, do you believe are unwise? It's a legitimate debate, but let's have it."</p>

Did you see this headline in your morning paper: “Discretionary federal spending to rise in 2004 by more than double the rate of inflation”? Funny – neither did I. Instead, one read a torrent of stories about the supposedly draconian Bush budget cuts. Even the Wall Street Journal claimed on its front page, “Budget for Harder Times Offers New Plans but Lots of Cutbacks.” Well I suppose some cutbacks can indeed be found in this budget by a careful reader. Some worker training programs will be cut back, and so will some housing programs and a few other items as...

Democratic National Committee Chairman McAuliffe Statement On President Bush's Budget Proposal WASHINGTON - PRNewswire - Feb. 4 Chairman Terry McAuliffe issues the following statement: "President Bush released his budget today, bringing record deficits and $1.6 trillion in new tax cuts geared toward the wealthy. As our nation deals with the continuing threat of terrorism, a possible war in Iraq, and a sluggish economy, the White House budget is fiscally irresponsible and damaging. "Instead of returning our country to the fiscal discipline of the 1990s, Bush has proposed a budget-busting tax cut agenda that mainly benefits the wealthy and leaves out...

WASHINGTON, Feb. 3 (UPI) -- President Bush's budget proposal for 2004  released Monday only allocates a 2 percent increase in funding for the  National Institutes of Health, essentially halting the double-digit increases  NIH has come to expect over each of the past five years.  Medical researchers and patient groups said the budget shortfall could delay  progress in developing new medical therapies. A bipartisan group of senators  responded by announcing their intentions to introduce legislation to triple  the NIH budget over a 10-year span.  The NIH, which funds basic science and medical research that could lead to  new treatments for...

Democrats Attack GOP Budget for Deficit ProjectionsBy Martin Crutsinger The Associated PressPublished: Feb 4, 2003 WASHINGTON (AP) - Democrats accused President Bush on Tuesday of proposing a $2.23 trillion budget for 2004 forcing record deficits but doing nothing about them as the White House began defending its new spending blueprint on Capital Hill. White House budget chief Mitchell Daniels used an appearance before the House Budget Committee to champion the plan's $1.3 trillion in 10-year tax cuts, which the White House says should spur the economy. The plan also projects deficits of $307 billion this year and $304 billion next...

When President Bush unveiled his budget for next year, Democrats and Republicans immediately fell to arguing about the need for tax cuts, the dangers of deficits, and assorted other issues. But they did find something they could agree on -- that the administration was taking a tough line on spending. "This budget is a rip-off for the rich that starves our schools, health care and even homeland security," fumed Sen. Edward Kennedy, D-Mass. The administration made no apologies for practicing what it called "spending restraint." Oklahoma Republican Sen. Don Nickles, chairman of the Budget Committee, urged his colleagues to heed...

Bush Budget Will Make Him the Biggest Spender in DecadesBush proposes nearly $100 billion more in non-defense discretionary spending than Clinton WASHINGTON -- Cato Institute Director of Fiscal Policy Chris Edwards released the following statement in response to President Bush's fiscal 2004 budget:The Bush administration's fiscal 2004 budget shows an admirable reform spirit in its pro-growth tax cut proposals, support for private Social Security accounts, and government management initiatives such as competitive sourcing. But the administration has failed to tackle the serious overspending problem in the discretionary budget.Indeed, based on his first three budgets, President Bush is the biggest spending...

Democrat Tax RefundsBy Gwinnett-Online.comGwinnett-Online.com | February 5, 2003 If you don't understand the Democrats' version of tax cuts (and you are not alone), this will help explain it for you: 50,000 people go to a baseball game, but the game was rained out. A refund was then due. The team was about to mail refunds when the Congressional Democrats stopped them and suggested that they send out refund amounts based on the Democrat National Committee's interpretation of fairness. After all, if the refunds were made based on the price each person paid for the tickets, most of the money would...

President Bush, wasting no time in trying to capitalize on last year's Republican takeover of both houses of Congress, is asking Congress to endorse a new $2.23 trillion budget with a heavy emphasis on tax cuts. Judging from the initial reaction, though, Bush will be under intense pressure to trim the tax cuts and boost spending in areas favored by Democrats in the still closely divided House and Senate. Bush's spending plan for the 2004 budget year that begins Oct. 1 proposes $1.3 trillion in tax cuts over 10 years, increased spending for defense and homeland security and record budget...

Israel aid in US 2004 draft budget: At least $2.776b $136 million is budgeted for the Arrow anti-ballistic missile system. The draft budget does not include the special aid request. Ran Dagoni, Washington 4 Feb 03 17:40The aid package for Israel in the 2004 US draft budget is at least $2.776 billion. This sum includes US participation in the Arrow anti-ballistic missile system. Israel is continuing to receive the largest share of US foreign aid. $136 million is budgeted for the Arrow, of which $66 million for improvements in the program, and $70 million for manufacturing of components in the...

President Bush sent Congress a $2.23 trillion budget today — with record deficits — that would speed up billions of dollars in income tax cuts, provide huge increases for the Pentagon and offer a modest jump in spending for NASA. Mr. Bush's budget forecasts a deficit of $304 billion in the current fiscal year, and projects a deficit of $307 billion for the 2004 fiscal year, which begins Oct. 1. Over the next five years the total projected deficit would be more than $1 trillion, a potentially problematic number for Mr. Bush, who as a presidential candidate vowed that he...

<p>The Pentagon's proposed $380 billion budget for 2004 reflects Defense Secretary Donald H. Rumsfeld's decision to shift spending priorities from improving today's weapons to developing tomorrow's.</p> <p>Mr. Rumsfeld wants to cancel or curtail numerous weapons programs, including planned improvements to the Army's Abrams battle tank, and put billions into futuristic weapons like drone aircraft that would launch bombs and missiles and the Global Hawk unmanned spy plane to replace the Air Force's U-2.</p>

DOD official: Army budget plan falls short By Lisa Burgess, Stars and Stripes European edition, Monday, February 3, 2003 ARLINGTON, Va. — The Army has a dilemma with the Bush administration’s 2004 budget submission to Congress: America is at war, but the $93.9 billion Army budget request looks the same as it would have if Sept. 11, 2001, had never happened and Saddam Hussein had never defied the United Nations. “This is a peacetime budget, but we are at the same time at war, and perhaps facing a bigger war,” a Defense Department spokesman told Pentagon reporters Friday. “There...

Armed with 8 weeks of on the job experience, NASA Administrator Sean O'Keefe appeared before the House Science Committee [ hearing charter] this week to discuss NASA's FY 2003 Budget. O'Keefe faced a committee still inclined to give a newcomer the benefit of the doubt - but at the same time, not at all shy about making their views known... ...O'Keefe then addressed a "handful of initiatives in the FY 2003 budget" that he was pursuing: The first initiative is "a vigorous, aggressive implementation of the President's management agenda. There are 5 items within this plan that apply to all...

<p>In the midst of an economic soft patch, the ongoing war against international terrorism and the continuing adverse revenue effects from the bursting of the 1990s stock-market bubble, President Bush yesterday unveiled his blueprint for the 2004 budget year, which begins Oct. 1. Federal spending would total $2.23 trillion, reflecting an increase of $89 billion over 2003. Even with the full implementation of the president's economic growth package, which would reduce tax receipts by $111 billion in 2004, overall tax revenues are forecast to increase by $86 billion over 2003.</p>

FOR IMMEDIATE RELEASEFebruary 3, 2003 Statement of Public Broadcasters In Response to the President's 2004 Budget PlanWe in public broadcasting understand that the combination of a war on terrorism and a weakened economy will have a serious impact on federal appropriations, including our own. Nonetheless, the President's budget would, if enacted, seriously compromise our ability to deliver the services we are required by law to provide to the American people.Public broadcasting is at a critical technological crossroads. The May 2003 federal deadline for public television to convert to digital transmission is rapidly approaching. That conversion also requires that television's satellite...