Saturday, September 03, 2011

FY 2008, the budget passed by Dems

One of my favorite things to do is to examine what was said, in a prediction, in history.

For instance, let's say that you were wondering about the FY 2008 budget. Who passed it, and what was said about it?

The U.S. Congress on Thursday approved a $2.9 trillion fiscal 2008 budget that funds President George W. Bush's huge defense buildup while also adding money for Democrats' domestic priorities.

The budget, written by Democrats who control both chambers of Congress, received no backing from House Republicans, while only two moderate Republicans in the Senate supported it.


Okay... so from this, we know that the Democrats wrote the 2008 budget.
Furthermore, we can state that exactly 2 Republicans in congress, total, supported it.
Its worth reading the article if you have the time.

Let's keep going... shall we?
This was a non-binding budget. Meaning that Democrats knew that there was a possibility that their spending priorities would get cut off at the legs. Or as one other article stated it:
The move appears to set up a clash this September with Bush, who has yet to veto a single appropriations bill, but who seems eager to get started.
The budget was a result of a lot of back and forth, with Republicans saying that Democrats were being overly optimistic on what they thought their tax plans would bring in.
Furthermore, the Democrats were counting on 'reserve funds':
The House and Senate versions of the budget depend on "reserve funds" to pay for additional spending for such programs as children's healthcare and farm aid. With the reserve funds, Congress can avoid the hard choices that drawing up any budget, whether it's for a household or the federal government, usually entails.
There's only one catch: The reserve funds are empty.
If Congress wants to fill them, it will have to do what it has tried to avoid: cut from defense or domestic programs, raise taxes or borrow the money and drive up the deficit.
I'm going to continue researching this. But I wanted to share.

No comments: