Bush unveiled his new $3.1 trillion budget today that may hurt many retirees and increase the national debt but promises to increase support for troops stationed abroad. The proposed budget is largely a political exercise since the Democratically controlled Congress will be responsible for approving it, but it does illustrate the many problems facing our country going forward. Many Democrats complain that the budget will trim health benefits for retirees why skyrocketing our national debt even more than it already has under the direction of President Bush. Bush responded by saying that it is a budget that achieves some important objectives.

From LATimes:
President Bush unveiled a $3.1-trillion budget today that would boost military spending and trim health benefits for retirees. The proposal was immediately tagged by Democrats as "irresponsible." The first spending plan in history to top $3 trillion would freeze or eliminate many domestic spending programs yet still rack up a $407-billion deficit for fiscal 2009, which begins Oct. 1. The Pentagon is the only department for which Bush proposes a significant increase; its budget would grow 7.5% to $515 billion. "It's a good budget," Bush said after meeting with his Cabinet. "It's a budget that achieves some important objectives. One, it understands our top priority is to defend our country, so we fund our military as well as fund the homeland security."

"When President Bush took office, the national debt stood at $5.7 trillion," said Rep. John M. Spratt Jr. (D-S.C.). chairman of the House Budget Committee. "Today it is $9.2 trillion and rising, projected to increase to $9.7 trillion by the time President Bush leaves office -- up by $4 trillion in eight years. This is the legacy our children and grandchildren will inherit from the fiscal policy of this administration."