Schakowsky: Dangerous Budget Puts Americans at Risk

SCHAKOWSKY: DANGEROUS BUDGET PUTS AMERICANS AT RISK

WASHINGTON, DC--U.S. Representative Jan Schakowsky, a Chief Deputy Democratic Whip, today released the following statement on the President's FY2008 Budget:

"President Bush has produced a dangerous budget that puts Americans at risk. The budget cuts programs vital to our economic well-being, sinks hundreds of billions more into the war in Iraq without fully equipping our troops, and puts us further in debt to other nations. This budget must be stopped....

"The President's budget gives the Pentagon $623 billion, an increase of 62% since he took office. The budget sinks another $145 billion into the war in Iraq — another sign that the President has no plans to bring our troops home before the end of his term. Even with the massive increases in the Defense budget, the President still leaves behind our troops. Just last week, an Inspector General's report concluded that our troops in Iraq still do not have the equipment they need to defend themselves after four years of war....

"The President's budget not only endangers our soldiers in the field, but it also threatens Americans at home. This budget takes money directly out of vital domestic investments, by cutting education by $3.1 billion, slashing food assistance for 440,000 seniors, and reducing child care assistance for 300,000 of the working poor. Furthermore, it includes cuts of $300 billion to Medicare and Medicaid. The President won't allow Medicare to negotiate for lower drug prices, but he's content to make the elderly pay more and to limit health care coverage for the poor....

"The President's budget threatens our country's fiscal security. The budget once again rewards the wealthiest Americans with nearly $2 trillion tax cuts — even though it means we will be more indebted to other nations. Since the President took office, the United States has borrowed twice as much from foreign countries such as China and Saudi Arabia -- over $2 trillion. Nearly 90% of all of our new debt is held by foreign creditors, many which do not have our best interests in mind. We used to be the largest creditor in the world. Now, we are the largest debtor....

"The FY08 budget is just a rerun of the same misplaced priorities the President brings before Congress each year. It's no wonder this administration has the worst fiscal record in history....

"The Bush administration has brought us record deficits and debt, a crisis of the uninsured, two wars with no end in sight, and expanding economic disparities. The President's new budget puts the economic and physical security of Americans at increased risk. Since the President failed to protect Americans from these dangers, Congress will....