Budget surplus by 2012?by Jason Pye
Are Democrats going to create a budget surplus in four years?:
Senate Democrats unveiled a spending blueprint yesterday that envisions a massive expansion of the nation’s health-insurance program for children, as well as billions of additional dollars for other domestic priorities such as public education, veterans’ health care and local police.
Despite the additional spending, Sen. Kent Conrad (D-N.D.), chairman of the Senate Budget Committee, said the proposal would virtually erase the federal deficit within four years without raising taxes and produce a surplus of $132 billion by 2012.
Under that scenario, Conrad said, Congress could extend President Bush’s signature tax cuts past their 2010 expiration date and halt the expansion of the alternative minimum tax, but only if sufficient revenue is raised elsewhere to cover the cost of about $800 billion over five years.
Keeping the evil “tax cuts for the rich” while increasing spending for welfare and social programs.
I’m calling “bullshit” on this one.