President Bush sent a $2.2 trillion budget to Congress that includes a large increase in defense spending, large tax cuts, and record deficits -- $304 billion for the current fiscal year and $307 billion for next year. The total deficit over the next five years was projected to be more than $1 trillion. Two years ago, reporters were quick to recall, the president forecast a $5.6 trillion surplus over the next 10 years and justified his first round of tax cuts for the wealthy on that basis. The budget does not include funds for the invasion of Iraq but does propose to make it more difficult for poor families to obtain government handouts.
Harper's Weekly Review Februrary 11, 2003
