President Bush is considering asking Congress to freeze domestic spending next year or cut it slightly, even as he prods lawmakers to allow younger workers to divert some of their Social Security taxes into personal investment accounts.
The two plans, which promise to be dominant issues next year, share a common thread: massive federal deficits that have set consecutive records, peaking at $413 billion last year. The shortfalls have prompted Bush to seek savings from non-defense, non-domestic security programs, and have limited his options for shoring up Social Security for the looming retirement of baby boomers.
"This is an issue on which I campaigned and I'm still standing," Bush said of revamping Social Security at a White House economic conference, words he hoped would prompt support from lawmakers loathe to meddle with the giant retirement system.
Galveston Co Daily News articleThe two plans, which promise to be dominant issues next year, share a common thread: massive federal deficits that have set consecutive records, peaking at $413 billion last year. The shortfalls have prompted Bush to seek savings from non-defense, non-domestic security programs, and have limited his options for shoring up Social Security for the looming retirement of baby boomers.
"This is an issue on which I campaigned and I'm still standing," Bush said of revamping Social Security at a White House economic conference, words he hoped would prompt support from lawmakers loathe to meddle with the giant retirement system.
I recall your post-9/11 encouragement to get out there and shop to show the terrorists they couldn't scare us. Now you want to freeze domestic spending, but you also just recently said:
"People can buy more United States products if they're worried about the trade deficit."
articleBuy domestic corporate products, but don't spend on domestic programs. You want us to spend money on your interests, but you don't want to spend any (of our money) on us. So, I'm now imagining that trade deficit remark was dripping with sarcasm.
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