DonYoung

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Washington, D.C., May 10, 2007 -

The President’s total budget authority proposal for the fiscal year 2008 is $2.902 trillion.  This budget funds our troops, and keeps our nation’s defense and security the strongest in the world.  The President's budget increases defense spending by 6.0% to $603 billion, including the $140 billion proposed supplemental for military actions overseas.  By 2012, the Administration's projections drop defense spending to $546 billion.  Furthermore, the budget would hold the growth in non-defense discretionary spending to 1% in the coming year and keep discretionary spending below the rate of inflation for the next five years, enabling the President to balance the budget by 2012.

The new Congress, operating under a Democrat majority, will try to revise certain aspects of the President's budget. The Democrat controlled Budget Committee’s budget has increased discretionary spending in various areas, including an increase in veterans funding for 2008 to $5.4 billion. The Democrat’s slightly different priorities also include an increase of $50 billion to expand children’s health insurance to cover millions of additional uninsured children.  It provides a 2008 program level that is $3.0 billion over current services for education, training, and social services, which includes funding for No Child Left Behind programs, special education, and aid to help students afford college.  It would also increase funds for Head Start and child care, provide new funding to assist communities and rebuild housing in the aftermath of Hurricane Katrina and reject the President’s cut to the Social Services Block Grant program. Furthermore, it would include an affordable housing initiative.  However, it is unlikely that the Democrats will be able to achieve these goals without raising taxes or cutting funding.  I will continue to strive for a budget that will provide essential funding for programs while balancing the budget by 2012 without increasing taxes or slashing federal domestic spending.