PROSPERITY:
Economic Policy | February 8, 2005
THE
BUSH
BUDGET
A
Guest Appearance on "NewsRap
with Barry Gordon"
Topics
during the hour, with phone-in guests, included the following:
*
Definition and size of the Gross Domestic Product, (annual)
federal deficits and surpluses, and (accumulated) national debt
*
Comparision of deficits during Bush I and II presidencies with
surpluses during Clinton presidency
*
Summary of newly proposed Bush budget for Fiscal Year 2006
*
Comparison of growth in government spending as percentage of GDP
under Democratic and Republican presidents
*
Revenues: Tax breaks mostly for the wealthy; tax burdens
shifting to the middle class and poor, hurting consumption and,
thus, GDP
*
Outlays (ref: Office of Management and Budget, as cited in "National
Priorities" website): The big "winners" and
"losers"
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