ScreamingEagle
Gold Member
- Jul 5, 2004
- 13,399
- 1,707
- 245
one actually got passed....it's a miracle...!
it is not a balanced budget....it would add another 7.3 trillion to the national debt...
it is not a balanced budget....it would add another 7.3 trillion to the national debt...
Senate Democrats approved their first budget in four years early Saturday morning -- but just barely.
The final vote, which was held after the Senate worked well past midnight churning through dozens of amendments, exposed cracks in Democratic unity as lawmakers facing re-election peeled off, citing the proposal's failure to tackle the deficit. In the end, the budget plan squeaked by on a razor-thin 50-49 vote.
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The Democratic budget's $975 billion in new taxes would be matched by an equal amount of spending reductions coming chiefly from health programs, defense and reduced interest payments as deficits get smaller than previously anticipated. This year's projected deficit of nearly $900 billion would fall to around $700 billion next year and bottom out near $400 billion in 2016 before trending upward again. Shoehorned into the package is $100 billion for public works projects and other programs aimed at creating jobs.
Read more: Long-awaited vote on Senate budget exposes cracks among Democrats | Fox News
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