For Immediate Release
Office of the Press Secretary
February 27, 2001
President Bush Outlines Budget; Calls for Government to be "Active, but Limited, Engaged, but not Overbearing."
President Bush tonight will ask Congress to join him in supporting a
reasonable and responsible budget that funds the nation's
priorities, pays down an unprecedented amount of debt, establishes a
one trillion dollar contingency fund for unexpected needs and provides
tax relief for everyone who pays income taxes in America.
Saying, A budget's impact is counted in dollars, but
measured in lives, President Bush will propose funding for
excellent schools, quality health care, a secure retirement, a
cleaner environment, and a stronger defense.
His budget increases spending for Social Security, Medicare and
entitlement programs by $81 billion, and increases discretionary
spending by another $26 billion, a four percent increase that means
government spending will grow at more than the rate of inflation.
President Bush will also ask Congress to join him in paying down an
unprecedented amount of debt, $2 trillion over ten years, and
establishing a $1 trillion contingency fund for unexpected needs,
additional priorities and contingencies. Once Congress has
funded ongoing operations and priorities, paid debt, and set up a
contingency fund, he will argue, it has only two choices with the
additional surplus. Congress can either spend it, or return
it to the people through tax relief.
Unrestrained government spending is a dangerous road to deficits, so
we must take a different path, the President will
argue. The other choice is to let the American people spend
their own money to meet their own needs, to fund their own priorities
and pay down their own debts. I hope you'll join me and
stand firmly on the side of the people.
The President will call for quick action on tax relief to help
stimulate the economy. He will also argue quick action is
important because Congress must begin work on other longer term
reforms, including reforms of Social Security and Medicare.
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