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US Congress approves budget cuts.

 
 
Reply Thu 2 Feb, 2006 09:23 am
These policies are so predictable. First you help the wealthiest and then you cut programs that help the poorest.
That's the way to go.
......................................
US Congress approves budget cuts.

The US Congress has narrowly passed a budget bill that will cut spending by $39bn (£22bn) over the next five years.

It will mainly affect welfare programmes, including medical cover for the poor and elderly and student loans.

The bill, passed by just two votes in the House of Representatives, was welcomed by George W Bush, who promised more measures to curb federal spending.

The Senate passed the bill in December only after Vice-President Dick Cheney cast a tie-breaking vote.

Democrats described the bill as an assault on college students and the poor.

"The sad truth is all of this is to pay for tax cuts to for the wealthiest people in our country," House minority leader Nancy Pelosi said, referring to $70bn in tax cuts proposed by Republicans.

The cuts - amounting to some $8bn a year - account for about 2% of the budget deficit, which this year is likely to top $400bn.

http://news.bbc.co.uk/2/hi/americas/4673252.stm
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Type: Discussion • Score: 1 • Views: 488 • Replies: 2
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woiyo
 
  1  
Reply Thu 2 Feb, 2006 11:44 am
I have no issue with the cuts. However, I want to see a tax bill that :

1. Retains the Estate Tax at 2006 levels.
2. Increase in the top brackets
3. Decrease in lower brackets.
4. Increase SS cap to 500K
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rabel22
 
  1  
Reply Fri 3 Feb, 2006 03:45 pm
What are the chances that Bush and the Republicans will give the poor and middle class a tax break. Zero!
0 Replies
 
 

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