For Immediate Release
February 3, 2003
President's 2004 Budget Released
The Budget Message of the President
Fact Sheet: President Bush's 2004 Budget Read the President's Budget
The budget for 2004 meets the challenges posed by three national
priorities: winning the war against terrorism, securing the homeland,
and generating long-term economic growth. It restrains the growth in
federal spending and addresses the long-term fiscal challenge presented
by Medicare and Social Securitys unfunded promises. This years budget
also helps America meet its goals both at home and overseas.
We remain at war with an enemy that seeks to use murder, stealth,
and fear against all free nations. Yet our response has been
resolute. The people of Afghanistan have been freed from the
oppressive regime that sponsors the terrorists who planned and carried
out the attacks of September 11, 2001. We are hunting down the
terrorist leaders and their collaborators, one by one. And we continue
to disrupt their plots, shut down their financing, and deny them safe
haven.
We have moved to secure the nations safety. Just 10 days ago, the
new Department of Homeland Security began operations in the biggest
reorganization of the Federal Government in a half-century. The
cabinet-level department unifies the work of 22 programs and agencies
and will move quickly to better protect Americans from threats here at
home. We also have moved to defend Americas interests abroad, and to
confront danger wherever it emerges. Working with our allies and
partners, we will face down regimes that govern by fear and deception,
and we will devote the necessary resources to protect ourselves and our
friends against the use of weapons of mass destruction.
We are strengthening our economy by allowing American families to
keep more of their own money and encouraging businesses to save, spend,
and grow. While the economy is growing, it is not growing fast
enough. Too many Americans who want to work cant find a job, and too
many American families are falling behind.
The growth and jobs plan I outlined earlier this year will provide
critical momentum to our economic recovery. For every American paying
income taxes, I propose speeding up the tax cuts already approved by
the Congress, because Americans need that relief today. And for
America's 84 million investors, and those who will become investors, I
propose eliminating the double taxation of stock dividends. Double
taxation is unfair and bad for our economy.
Government cannot manage or control the economy. But government
can remove the barriers blocking stronger economic growth. My plan
will give Americans more tools to achieve that growth.
A recession and a war we did not choose have led to the return of
deficits. My Administration firmly believes in controlling the deficit
and reducing it as the economy strengthens and our national security
interests are met. Compared to the overall federal budget and the
$10.5 trillion national economy, our budget gap is small by historical
standards. By protecting our vital national security interests and
promoting economic growth, we will meet the challenges and concerns of
the American people. We will not let them down.
I will also insist on spending discipline in Washington D.C., so we
can meet our priorities. We must prepare for the future costs of
Social Security and Medicare. My budget takes the first steps toward
modernizing Medicare and includes prescription drug coverage.
We will continue to focus on getting results from federal
spending. A federal programs measure of success is not its size, but
the value it delivers. And my budget will focus on this goal in a new
and important way. If federal programs cannot show results, they
should be overhauled, or retired.
And while human compassion cannot be summarized in dollars and
cents, this budget addresses the many challenges our society faces:
bridging the gap for low-income families, so they can buy affordable
homes; helping communities of faith pull the addicted from the grip of
drugs; lifting children out of poverty and hopelessness by creating
good schools and offering them caring adult mentors; and easing the
pain and hardship of the global epidemic of AIDS.
Some of the challenges we face will endure for many years and
require great resources. As we look down that path, we will not always
get to choose which battles we fight. It is, however, our duty to
fight them. History may not remember every single way we contributed
to this nations betterment, but it will remember if we failed to try.
The courage to take on challenges, and the enterprise with which we
have succeeded in meeting them, have always distinguished America.
This same courage and enterprise will help America meet these
challenges, and prevail once again.
GEORGE W. BUSH February 3, 2003
|