Former President George W. Bush’s economic policy is making a comeback. First, Congress and the White House agreed to extend the tax cuts he implemented for all Americans. Now, Republicans want to
shrink domestic appropriations to the 2008 levels set in an omnibus bill three years ago — the last major budget measure of the Bush presidency, Politico repor
“That giant bill, covering all agencies but the Pentagon, is very much the intellectual framework behind the GOP’s promise to tea party supporters that it will cut $100 billion in government spending its first year,” Politico states.
“The Defense, Homeland Security and Veterans Affairs departments are largely exempted. But appropriations for all other departments would be capped at the $378.4 billion level allowed in the Bush deal — nearly $100 billion less than [President Barack] Obama’s 2011 request and $84 billion, or 18 percent, below current levels.”
© 2015 Newsmax. All rights reserved.