Proposed Budget is “Responsible, Appropriate,” Gregg says
WASHINGTON—New Hampshire Sens. Judd Gregg and John Sununu called President Bush’s proposed 2004 budget responsible and appropriate considering the economic downturn and possibility of war, but Gregg said he wanted to see the country return to budget surpluses.
Gregg, who made the statement Monday at a Senate Budget Committee meeting, said the budget illustrated the president’s “strong commitment” to national defense, education, health care and fighting terrorism.
“During a time of war and extreme economic slowdown, this is an extremely responsible budget,” Gregg said. “I think it is a good budget; it’s a difficult budget because it is in deficit, and I want to see us move back to a budget with a surplus.”
Gregg also said proposed tax cuts are necessary to generate productivity that will stimulate the economy.
“[The president] has recognized the fact that, to get the economy going, we are going to have to do something on the economic side, including cutting taxes so that we can create more of an incentive to create an atmosphere of productivity,” Gregg said.
The president’s proposed budget for fiscal year 2004, submitted to Congress Monday, totaled $2.2 trillion, a 4.2 percent increase from 2003. The budget also predicts that the deficit would represent 2.7 percent of the gross domestic product. The proposed budget would allocate $380 billion for the nation’s military, $41 billion for homeland security, $53.1 billion for education and $89 billion for health care.
Sununu echoed Gregg’s approval of the budget and said that while it will increase the deficit, the president’s proposal still attempts to manage deficit growth and revitalize the economy.
“As the president said [in his State of the Union address], the federal budget shouldn’t increase any faster than the average paycheck,” Sununu said Tuesday. “So I think he’s on the right track in controlling the growth of spending.”
Sununu praised aspects of Bush’s plan, such as his program to provide incentives to small businesses, which Sununu said would specifically affect New Hampshire residents.
Published in The Manchester Union Leader, in New Hampshire.
