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Skriven 2007-01-03 23:31:14 av Whitehouse Press (1:3634/12.0)
Ärende: Press Release (0701032) for Wed, 2007 Jan 3
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Fact Sheet: A Balanced Budget by 2012 _
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For Immediate Release
Office of the Press Secretary
January 3, 2007

Fact Sheet: A Balanced Budget by 2012 _
Increased Tax Revenues From A Strong Economy Coupled With Spending
Restraint Will Reduce The Deficit And Balance The Budget




"By balancing the budget through pro-growth economic policies and spending
restraint, we are better positioned to tackle longer-term fiscal challenges
facing our country, namely the entitlement programs_ Another area where we
can work together is to reform the earmark process.ÿ One important message
we all should take from the elections is that people want to end the
secretive process by which Washington insiders are able to get billions of
dollars directed to projects, many of them pork barrel projects that have
never been reviewed or voted on by the Congress."ÿ

- President George W. Bush, 1/3/07

Today, The President Announced He Will Propose A Balanced Budget. ÿOn
February 5, the Administration will present its five-year budget proposal,
which will show reducing budget deficits and balance in 2012.ÿ The Budget
will achieve balance while addressing the Nation's most critical needs,
including support for the Global War on Terror and sustaining the strength
of our economy through permanent tax relief.
  þ The President Also Called For Earmark Reform.ÿ The time has come for
    both political parties to work together on comprehensive earmark reform
    that produces greater transparency and accountability to the
    congressional budget process, including full disclosure for each
    earmark and cutting the number and cost of all earmarks by half.

Pro-Growth Policies Are Fueling The Robust U.S. Economy And Increasing Tax
Revenues

The President's Tax Relief Has Spurred Robust Economic Growth, Millions Of
Jobs, And Rising Wages.ÿImmediately after the President's tax relief took
full effect in 2003, economic growth accelerated and job growth resumed.
  þ The economy has grown nearly three percent over the last four quarters
     faster than any other major industrialized country.
  þ More than 7 million American jobs have been created since August 2003.
  þ Americans are feeling the effects of a strong economy through bigger
    paychecks  real wages have grown 2.3 percent in the past 12 months,
    well above the average of 1990s.

A Strong U.S. Economy Is Fueling Higher Tax Revenues.ÿTax revenues are up
11.8 percent in 2006 following a 14.6 percent increase in 2005.ÿReceipts
have increased nearly 35 percent since the tax relief was fully implemented
in 2003, and 70 percent of the reduction in the deficit last year was
attributable to increased tax revenues.ÿ

Better Spending Restraint Is Helping Achieve A Balanced Budget

While Funding Priorities, We Must Keep Spending Under Control.ÿWe can
achieve a balanced budget while maintaining our priorities: a strong
national defense; tax relief needed to keep the economy strong; enhancing
energy security; making health care more affordable; and further improving
the quality of education.

As We Fund Our National Priorities, We Must Continue To Restrain Spending.ÿ
That means restraining spending growth, doing more with less and
eliminating programs that are not getting the job done.ÿ

Earmark Reform And The Line-Item Veto Will Help Eliminate Wasteful
Spending.ÿEarmarks often lead to wasteful Federal spending.

They have tripled in number over the last decade and have increased
spending by billions of dollars. The time has come for comprehensive
earmark reform that brings greater transparency and accountability to the
congressional budget process, including:
  þ Disclosing the sponsors, costs, recipients and justification for each
    earmark;
  þ Stopping the practice of concealing earmarks in so-called report
    language instead of placing them in the actual language of the bill;
    and
  þ Stopping all wasteful and unnecessary earmarks, starting by cutting the
    number and cost of all earmarks by half.
  þ Providing the President the power that 43 of the Nation's governors
    have to help tackle wasteful spending: the line-item veto.

Rising Entitlement Spending Is A Long-Term Challenge That We Must Address
Now.ÿA balanced budget better positions us to deal with the unsustainable
growth in entitlement spending. While the near-term fiscal outlook is
bright, entitlement reform is needed to help address our long-term
budgetary challenges and ensure these vital programs are available for
future beneficiaries. ÿThe President has led the way in focusing attention
on this problem and in promoting real solutions, but forging a solution
will require bipartisan cooperation.

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