Democrats Agree on $2.9 Trillion Budget - Mercedes-Benz Forum

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post #1 of 23 (permalink) Old 05-16-2007, 11:15 AM Thread Starter
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Democrats Agree on $2.9 Trillion Budget

Democrats Agree on $2.9 Trillion Budget

WASHINGTON (AP) - Congressional Democrats have sealed an agreement on a $2.9 trillion budget blueprint for the 2008 fiscal year, a House Budget committee spokesman said.

The nonbinding plan, to be officially released later Wednesday, caps weeks of private negotiations and paves the way for action this summer on annual spending bills totaling $1.1 trillion.
The Democratic budget promises a balanced federal ledger in five years, but relies on tax revenues generated by the expiration of many of the tax cuts enacted in President Bush's first term.
Tax cuts aimed at the middle class could be renewed under the compromise, including provisions establishing a 10 percent rate on the first $12,000 of a couple's income, as well as relief for married couples, people with children and those inheriting large estates.
The measure would also restore a "pay-as-you-go" rule that requires tax cuts or spending increases in benefits programs such as Medicare, children's health care or farm subsidies to be financed by spending cuts or tax increases elsewhere so as to not worsen the deficit.
The budget plan is not binding but sets goals for subsequent tax and spending bills. It makes a statement about the priorities of majority Democrats and provides an early test for the party to prove it can govern.
Republicans said Democrats managed to project a balanced budget in 2012 only by assuming tax rates on income, dividends and capital gains revert to pre-Bush levels, costing taxpayers more than $200 billion in alone.


Democrats Agree on $2.9 Trillion Budget
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post #2 of 23 (permalink) Old 05-16-2007, 11:37 AM
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WOW!!! That is like $2,900,000,000,000.00!

Thank you democrats!!

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post #3 of 23 (permalink) Old 05-16-2007, 11:41 AM
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Why, you're welcome, I'm sure. Stings for a ficscal conservative, doesn't it?

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post #4 of 23 (permalink) Old 05-16-2007, 11:52 AM
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Bush took a surplus and turned it into the biggest deficit ever in US history! WTF are you fucking talking about???
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post #5 of 23 (permalink) Old 05-16-2007, 12:11 PM
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Originally Posted by Shane
Bush took a surplus and turned it into the biggest deficit ever in US history! WTF are you fucking talking about???
And you choose to continue to repeat that myth.
http://www.worldfreeinternet.net/news/nws174.htm

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post #6 of 23 (permalink) Old 05-16-2007, 12:14 PM
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Originally Posted by cmitch
And you choose to continue to repeat that myth.
SMOKE & MIRRORS: CLINTON ADMINISTRATION'S "SURPLUS" TRICK
Oh come on, you think this "source" has an interest in the truth? The only chance this country has at fiscal discipline is with opposite parties in the Legislature and Executive. Let's not blow it again, like Bush and the Republicans blew the debt SKY HIGH.

edit: not the Washington Times, my bad...

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post #7 of 23 (permalink) Old 05-16-2007, 12:19 PM
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Oh come on, you think the Washington Times has an interest in the truth? The only chance this country has at fiscal discipline is with opposite parties in the Legislature and Executive. Let's not blow it again, like Bush and the Republicans blew the debt SKY HIGH.
No one said the Republicans didn't over spend. It's just a known fact the 'surplus' of the Clinton years didn't exist to begin with. BTW, see the eye doctor. That article was excerpted from the Los Angeles Times. It says so at the bottom of the page.

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post #8 of 23 (permalink) Old 05-16-2007, 12:28 PM
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Originally Posted by Shane
Bush took a surplus and turned it into the biggest deficit ever in US history! WTF are you fucking talking about???
Bush had little to do w/ that! You can thank the Clinton recession, Al Qaeda (9/11), Katrina, Enron, and a host of other natural and man-made disasters, as well as the majority of democrats who always voted to increase the deficit and a handful of Republicans who's pork just got the best of them.

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post #9 of 23 (permalink) Old 05-16-2007, 12:33 PM
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Originally Posted by old300D
Oh come on, you think this "source" has an interest in the truth? The only chance this country has at fiscal discipline is with opposite parties in the Legislature and Executive. Let's not blow it again, like Bush and the Republicans blew the debt SKY HIGH.

edit: not the Washington Times, my bad...
Perhaps you missed the fact that we currently have "...opposite parties in the Legislature and Executive" and look what it got us: $2,900,000,000,000.00!

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post #10 of 23 (permalink) Old 05-16-2007, 02:02 PM
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Originally Posted by Jayhawk
Bush had little to do w/ that! You can thank the Clinton recession, Al Qaeda (9/11), Katrina, Enron, and a host of other natural and man-made disasters, as well as the majority of democrats who always voted to increase the deficit and a handful of Republicans who's pork just got the best of them.
Oh, so he signed the spending bills but bears no responsibility. He also requests the budget, but bears no responsibility. Stop it with the excuses, you are becoming pathetic.

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