Senate approves $2.27 trillion budget

CNN ^ | 4/11/03 | AP

[finnman69]

WASHINGTON (AP) --Congress wound up work on a $2.27 trillion federal budget Friday, winning a razor-thin Senate victory after Republican leaders promised any new tax cuts wouldn't exceed $350 billion over the next decade.

With lawmakers eager to begin a two-week recess, the Senate passed the budget on a vote that required Vice President Dick Cheney to break a 50-50 tie. The House had approved it a few hours before dawn.

[finnman69]

Snowe is a RINO.

[Support Free Republic]

There's no need to be deeply saddened !
	You can help push Tiny Tom over the edge here. Or mail checks to FreeRepublic , LLC PO BOX 9771 FRESNO, CA 93794 or you can use PayPal at Jimrob@psnw.com
STOP BY AND BUMP THE FUNDRAISER THREAD- It is in the breaking news sidebar!

[finnman69]

also related

Congress likely to delay debt limit hike
Thursday, April 10, 2003 Posted: 2:50 PM EDT (1850 GMT)

WASHINGTON (Reuters) -- With lawmakers struggling to agree on the size of a tax cut package sought by President Bush, Congress is likely to delay raising the nation's $6.4 trillion credit limit, a senior Senate Republican aide said Thursday.

The U.S. Treasury has been using accounting gimmicks and other financial maneuvers since February to avoid default. Aides say those moves and an expected increase in tax payments with the April 15 tax filing deadline would allow the government to continue paying bills.

"There is no real need to do the debt limit right now," the aide said. "The administration has plenty of resources and the river of revenues is about to run through the Treasury."

If no action is taken this week, the nation's credit limit will not be increased until sometime in May. Lawmakers are expected to leave Friday for a two-week break.

The Republican-controlled Congress has been reluctant to take the politically unpalatable vote to raise the debt limit at a time they are debating a $2.2 trillion federal budget for next year. The budget plan includes sizable new tax cuts that Bush says are needed to boost the weak U.S. economy.

The Senate is seeking $350 billion in new tax cuts over the next decade, less than half the $726 billion sought by Bush. The House of Representatives is pushing for tax cuts of at least $626 billion.

House Republicans have revived a rule used by Democrats when they controlled the House that allows lawmakers to avoid taking a direct vote on the debt limit.

The rule will allow the House to automatically agree to raising the debt ceiling by about $800 billion when it votes on the budget bill.

The Senate must take a separate vote on the credit limit and Democrats will likely push for a smaller increase.

Lawmakers last raised the debt limit by $450 billion in June 2002. Democrats blame the deterioration of the country's fiscal state on Bush's $1.35 trillion 10 tax cut enacted in 2001. Republicans blame the weak economy and war for what is expected to be record budget deficits this year and next year.

[CasearianDaoist]

I bet Bush gets his tax cut anyway. Let's wait and see.

[Digger]

..and you all thought old Bubba deserved the name "slick". Freinds, yoy just got the old "Potomic two-step" up your butts & all are ready to vote them back in office. What fools.

[finnman69]

Who are you going to vote for then?

[arkfreepdom]

You would not vote GW back in office? And if you haven't noticed even this 350mil. brings the total Bush tax cuts about to what he asked for 2 years ago. Now who took it up the butt?

[thepitts]

Congress wound up work on a $2.27 trillion federal budget

Who took it up the butt?

[supercat]

What's needed is to rework the accounting standards for "tax cuts". I'm reminded of a story I read awhile ago in IIRC California.

The state had a 50% tax on some sort of widget. Widget sales were pretty pathetic; something like $1M/year, so the tax brought in $500,000.

Someone suggested cutting the tax to 10%. Democrats objected that it would cost the already-strapped state $400,000; nonetheless, the tax-cut somehow passed anyway. The next year, widget sales jumped tenfold, causing tax revenues to increase to $1M yearly. And how did the Democrats respond? By complaining that the tax cut--which was projected to only cost $400,000, instead cost $4M.

[arkfreepdom]

I would love a smaller budget but am pragmatic enough to know we have to work at this over time. Tax cuts are a start.

[Digger]

They all are part of this issue. It isn't THEIR money. Would I vote GW in next time. Absolutely. However, do you not think that he is the ONLY one that can run this country? He is the best money can buy. I remember that there is a man Tooney that might challange Specter of Pennsylvania next term. I now see the spenctor's ears perk'in up. Virtually everyone that isn't on a gov check wants less taxes & less gov spending. So how are you going to get this if BOTH parties ignore your request?

[arkfreepdom]

So how are you going to get this if BOTH parties ignore your request?

By working within the pub party. I see no other workable choice. Anything else only helps the dims.

[Digger]

Let me say this. How long would 31 Flavors stay in business if they only had chocolate & vanilla?

[Digger]

I see no other workable choice. Anything else only helps the dims.

What if Olympia Snow & Hillary were the candidates in 2008 and the consenses is that no other party is viable. Is this the choice that we must endure? Why don't half of the people not vote today? And didn't you really know 2 yrs before this past election that GW was going to be president. I did & you may check this site of replies that I made at that time. Remember if your vote really counted do you think these pols (that are re-elected at a 95% rate - more than the old Soviet Union) would allow it?

[The Wizard]

snowe can kiss her own ass

[The Wizard]

we need 60 votes + 2

[jimbokun]

However, moderate GOP Sen. Olympia Snowe of Maine demanded and received promises from her party's leader that any tax cut bill sent to the White House won't exceed $350 billion.

Why in the WORLD is Bill Frist taking orders from Snowe? He's the Senate majority leader, he better start acting like it!

-jimbo

[arkfreepdom]

What if Olympia Snow & Hillary were the candidates in 2008

That's a false choice and actually proves my point. The pubs would never nominate someone as liberal as Snowe. That's why I'm a pub. The dims would and could nominate Hitlery.

[RightWhale]

ANWR is the big loose end. It's in the House version, not in the Senate version.