Reuters logo
FACTBOX: Highlights of Bush's fiscal 2008 budget
February 5, 2007 / 6:14 AM / in 11 years

FACTBOX: Highlights of Bush's fiscal 2008 budget

(Reuters) - President Bush unveiled a $2.9 trillion budget for fiscal year 2008 on Monday that also includes projections for spending on the wars in Iraq and Afghanistan through 2009. Below are some details of the spending plan:


* Bush is seeking $100 billion for the Iraq and Afghanistan wars for the rest of fiscal year 2007 ending on September 30 and $145 billion for fiscal year 2008. The budget also projects $50 billion in war costs for 2009 but has no Iraq projections beyond that.

* The war request for 2008 includes $5.6 billion to fund Bush’s proposal to send an extra 21,500 troops to Iraq.

* The military has told the White House it needs billions of dollars to replace tanks, artillery and other weapons used in the Iraq war. Those costs are included in the 2007 and 2008 war requests.

* Bush is also requesting $481 billion for the regular Pentagon budget.


* Domestic discretionary spending would grow by 1 percent.

* Education programs would be held flat overall at $56 billion. But some programs such as Pell grants for low-income college students would go up, while some other programs would be reduced.

* The Transportation and Treasury Departments would see increases while the Environmental Protection Agency would see a cut.


* The budget projects deficits of $244 billion in fiscal 2007, $239 billion in 2008 and $187 billion in 2009, assuming passage of Bush’s proposals.

* The budget is expected to show a $61 billion surplus in 2012, but Democrats are likely to question the assumptions supporting this.

* Bush will call for making his tax cuts permanent and a one-year fix to shield middle-income Americans from the Alternative Minimum Tax.

* The budget deficit was $248 billion in fiscal 2006 after hitting an all-time high of $413 billion in 2004.


* Bush will seek savings of $66 billion in the Medicare health program for the elderly over five years and $12 billion in the Medicaid health plan for the poor.

* Some savings would be achieved by curbing payments to hospitals and other providers.


* The Bush budget request includes $168 million in new funds to fill the nation’s strategic crude oil stockpile to its full level of 727 million barrels.


* The White House would cut crop subsidies by $4.5 billion over the next 10 years mostly through lower support prices. It proposed that 11 percent of farm subsidies be paid as protection against low prices and poor yields,

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below