|FOR IMMEDIATE RELEASE|
MARCH 12, 2004
|CONTACT: Moving Ideas Network
Damon Lipscomb 202/776-0730 x105
Budgeting for Disaster: Bush's Proposed 2005 Budget
WASHINGTON - March 12 - Moving Ideas, the leading source for progressive public policy on the net, has released a new analysis of President Bush's budget. Moving Ideas has compiled research, editorials and fact sheets from progressive organizations such as the Center for Budget and Policy Priorities, The Economic Policy Institute and The Century Foundation. This research companion includes links to government and progressive organizations that examine budget issues such as: domestic spending, tax cuts, education, medical care, environment, housing and military spending.
After winning a major legislative victory with the passage of the 2004 Omnibus Appropriations Bill, President Bush released his FY 2005 Budget on February 2 in the face of alarming deficit estimates.
Despite the misleading claims of some conservatives, the evidence clearly shows that the Bush tax cuts along with the cost of the Iraq war-not domestic spending-accounts for the great majority of the out-of-control deficit. Of the $500+ billion shortfall estimated by the White House for FY 2005, $291.3 billion is due to the cost of the Bush tax cuts (of which $94.7 billion goes to the richest one percent). Projected over a ten-year period, the tax cuts will cost 36 times more than all other domestic initiatives recently proposed by the president (e.g. funding for community colleges, pro-abstinence programs, prisoner re-entry support, etc.)
Read articles such as: . Bush Proposal Will Dismantle Housing Program for Lowest Income Families, from the National Low Income Housing Coalition
. Turning Gold Into Straw, from The Century Foundation
. .And Onward to Budget Battles Ahead, from OMB Watch
View the entire article at: http://www.movingideas.org/blitz/budget.html
Moving Ideas is the leading source for progressive policy on the net - featuring resources from more than 130 research and advocacy organizations. Moving Ideas is dedicated to explaining and popularizing complex policy ideas to a broader audience. Our goal is to improve collaboration and dialogue between policy and grassroots organizations, and to promote their work to journalists and legislators. Visit Moving Ideas online at www.movingideas.org.