Still More Money to be Saved
There is finally a budget deal. The Democrats agreed to only spend the total budget amount that the President had asked for. That saves you nearly $150 billion over the next 5 years (because the base for future increases is lower) which is enough to avoid the increases in the Alternative Minimum Tax that many want to see. I feel particularly happy about this because this all really started with the letter I circulated this spring on which 147 members of Congress agreed to uphold the president’s veto of any spending bill over his requested amount. Bills went to the president, he vetoed them and the vetoes were upheld which is why majority Democrats had to make a deal. That all worked out quite well. However, I still voted against the spending bill, and here’s why:
•First of all, I actually thought the President’s spending number was too high also. We cannot continue to increase spending by, or in excess of, the growth in the economy or we will never get to a balanced budget. •Secondly, the deal included $11 billion in one-time new spending. •Third, it has at least 8000 earmarks in it for nearly $20 billion. Much of this… Read More