Introduction
President Bush outlines his tax-cut proposal and budget plans before a joint session of the 107th Congress on Feb. 27. (Photo Credit: AP Photo/Doug Mills)
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For the first time in more than 30 years, the U.S. government is taking in more money in taxes than it is spending on federal programs.The expectation that the federal surplus will continue to grow has touched off a vigorous debate over how best to use the unanticipated windfall. The Bush administration wants to “give back” part of the surplus to taxpayers in the form of a $1.6 trillion tax cut. Critics say the money should be used for a more modest tax cut, but only after the national debt is paid down and urgently needed social programs are funded. Beyond the political infighting over Bush's tax proposal, lawmakers are at odds over how best to protect the funds needed for Social Security and Medicare.
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Federal Budget and National Debt |
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Sep. 01, 2017 |
National Debt |
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Jul. 12, 2013 |
Government Spending |
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May 15, 2012 |
State Capitalism |
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Mar. 18, 2011 |
National Debt |
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Nov. 14, 2008 |
The National Debt |
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Dec. 09, 2005 |
Budget Deficit |
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Apr. 13, 2001 |
Budget Surplus |
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Feb. 01, 1991 |
Recession's Regional Impact |
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Jan. 20, 1984 |
Federal Budget Deficit |
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Sep. 09, 1977 |
Federal Reorganization and Budget Reform |
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Nov. 24, 1972 |
Limits on Federal Spending |
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Jan. 08, 1969 |
Federal Budget Making |
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Dec. 06, 1967 |
National Debt Management |
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Aug. 01, 1962 |
Fiscal and Budget Policy |
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Nov. 27, 1957 |
National Debt Limit |
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Mar. 20, 1957 |
Spending Controls |
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Dec. 24, 1953 |
Public Debt Limit |
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Feb. 13, 1952 |
Tax and Debt Limitation |
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Nov. 30, 1949 |
Government Spending |
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Jan. 06, 1948 |
Legislative Budget-Making |
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May 23, 1944 |
The National Debt |
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Feb. 01, 1943 |
The Executive Budget and Appropriations by Congress |
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Dec. 27, 1939 |
Revision of the Federal Budget System |
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Oct. 10, 1938 |
The Outstanding Government Debt |
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Nov. 20, 1937 |
Budget Balancing vs. Pump Priming |
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May 02, 1936 |
The Deficit and the Public Debt |
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Oct. 19, 1934 |
The Federal Budget and the Public Debt |
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Feb. 10, 1933 |
Extraordinary Budgeting of Federal Finances |
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Dec. 01, 1932 |
Reduction of Federal Expenditures |
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Dec. 01, 1930 |
The National Budget System |
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Oct. 02, 1930 |
Federal Revenues and Expenditures |
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Nov. 02, 1927 |
The Public Debt and Foreign Loans |
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Nov. 15, 1926 |
Rising Cost of Government in the United States |
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Feb. 05, 1925 |
Four Years Under the Budget System |
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