A nation's budget is, in its aggregate, a statement about the values and priorities of its people. On February 5, 2007, President Bush released his budget proposal for fiscal year 2008 and it is most notable in that it features cuts in scores of programs that are essential to millions of middle- and low-income families and calls for additional tax cuts that will primarily benefit the wealthiest Americans. In short, it is a continuation of the disturbing budget choices President Bush has been making for the last 7 years.
President Bush has proposed spending more than $2.9 trillion while bringing in more than $2.6 trillion in revenues in fiscal year 2008. He would squeeze most domestic programs by allowing only a 1% annual increase, well below the cost of living increases for the past year. He has proposed even deeper cuts in Medicare and Medicaid; in fact he is calling for $79 billion in cuts from the two programs over the next five years; much more than he has ever proposed in the past. In his budget request, the President asked for $245 billion next year for the wars in Iraq and Afghanistan. President Bush also used his 2008 budget proposal to again call to permanently extend tax cuts for the wealthiest Americans that were enacted in 2001 and 2003. According to the President's proposed 2008 budget, spending on Social Security, Medicare and Medicaid, the cost of the wars in Iraq and Afghanistan and interest payments on the national debt will be four times the spending on all other programs.
Over the next seven months (fiscal year 2008 begins on October 1, 2007) the United States Congress will debate and decide not only how the American taxpayers' money is spent, but also how it is collected (in other words, should we continue to provide tax breaks to the wealthiest Americans). It is important that we make our voices heard and that we let our elected officials know that we place a premium on federal programs which help low- and middle-income Americans reach their potential and help fight continued racism and discrimination, which hold everyone back. The NAACP will continue to fight for more federal funding for public education, health care access and quality, crime prevention, job training and job creation, small business promotion, the protection of our basic civil rights and liberties, energy assistance and continued assistance for those whose lives were devastated by Hurricanes Katrina and Rita in 2005.
PLEASE CLICK HERE TO VIEW THE PROPOSED BUDGET AND FOR THE ACTION WE NEED YOU TO TAKE!
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