2008 Woodie Awards
President proposes largest budget in history
Issue date: 2/7/08 Section: News
President Bush proposed a $3.1 trillion federal budget this week.
Both national and border security programs would benefit the most, while many domestic programs would receive substantial cuts in funding.
The Department of Defense would receive $515 billion, a figure that does not include an estimated $200 billion for the wars in Afghanistan and Iraq.
Many domestic programs would receive a cut in funding, including a $200 billion reduction for Medicare and Medicaid. The budget, which would boost the federal deficit to $407 billion, is facing stiff opposition on Capitol Hill.
Total federal debt is expected to exceed $12 trillion by 2013.
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