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Tuesday, February 07, 2006

'TAX AND SPEND' REPLACED BY 'SPEND - CUT AND SPEND'

WASHINGTON (AP) -- The administration defended President Bush's $2.77 trillion budget plan Tuesday against criticism that it would damage education, health care and farm programs in the name of combating budget deficits.

Critics noted that the deficit for the current budget year would rise to an all-time high of $423 billion and they questioned Bush's projections for declining deficits in future years.

Sen. Max Baucus, D-Montana, said the explosion of federal deficits was adding to the national debt, requiring the administration to come to Congress in the next few weeks to raise the $8.18 trillion debt ceiling.

"America is borrowing 80 percent of the world's annual savings. We are handing our children and our children's children a set of obligations they will owe to foreign central banks," Baucus said. - CNN


They must be using the 'new math' over at the White House. Can we apply the term 'Intelligent Design' to the budget?

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