Reforms To Spend Tax Dollars Wisely

During his State of the Union Address, President Bush Discussed Three Major Reforms To Spend Tax Dollars Wisely And Keep America's Economy Strong. Next week, the President will deliver a full report on the state of our economy, which has added more than 7.2 million jobs since August 2003. Americans are finding jobs and taking home more pay.

To Spend Tax Dollars Wisely, We Must:

• Balance The Budget Through Pro-Growth Policies And Spending Restraint.

• Enact Common-Sense Reforms To Help Prevent Billions Of Taxpayer Dollars From Being Spent On Unnecessary Earmarks.
  

• Reform Entitlement Programs To Address The Longer-Term Fiscal Challenge Facing Our Country.

Balancing The Budget Through Pro-Growth Policies And Spending Restraint

Earlier This Month, The President Announced He Will Propose A Balanced Budget. On February 5, the Administration will present its five-year budget proposal. The President's budget will reduce the deficit over the next five years and produce a balanced budget by 2012. 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.

• The President's Tax Relief Has Spurred Robust Economic Growth, Millions Of Jobs, And Rising Wages.

• A Strong U.S. Economy Is Fueling Higher Tax Revenues. Tax revenues rose 11.8 percent in 2006 following a 14.6 percent increase in 2005. Receipts 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.

• The Deficit Has Been Cut In Half Three Years Ahead Of The President's 2009 Goal. Historic revenue growth and a continued commitment to spending restraint contributed to this reduction.

• Better Spending Restraint Is Necessary To Help Achieve A Balanced Budget. While funding the Nation's priorities, we must keep spending under control. That means restraining spending growth, doing more with less, and eliminating programs that are not getting the job done.

Enacting Common-Sense Reforms To Help Prevent Billions Of Taxpayer Dollars From Being Spent On Unnecessary Earmarks

Earmark Reform Will Help Eliminate Wasteful Spending. Earmarks are provisions included in legislation that are often not subject to legislative or public scrutiny and that often lead to wasteful Federal spending. Earmarks have tripled in number over the last decade and have increased spending by billions of dollars. The President applauds Congress' progress in requiring the disclosure of the sponsors, costs, recipients, and justification for each earmark, and calls on Congress to go further by enacting comprehensive earmark reform that brings greater transparency and accountability to the Congressional budget process, including:

• Stopping the practice of concealing earmarks in so-called report language instead of placing them in the actual language of the bill.

• Cutting the number and cost of all earmarks at least in half by the end of this session.

Reforming Entitlement Programs To Address The Longer-Term Fiscal Challenge Facing Our Country

The President Believes Balancing The Budget Through Pro-Growth Economic Policies And Spending Restraint Better Positions Us To Tackle The Longer-Term Fiscal Challenge Facing Our Country: Reforming Entitlements. Reforming Social Security, Medicare, and Medicaid will enable future generations to benefit from these vital programs without bankrupting our country. The President has led the way in focusing attention on this problem and in promoting real solutions, and passing legislation to enact such reforms will require bipartisan cooperation.

State by State Budget Info

Press Releases

January 23, 2007
President Bush Delivers State of the Union Address

Fact Sheet: Reforms To Spend Tax Dollars Wisely

January 6, 2007
President's Radio Address

January 3, 2007
President Bush Meets with Cabinet, Proposes Balanced Budget and Earmark Reform

Fact Sheet: A Balanced Budget by 2012 & Earmark Reform

December 9, 2006
President Signs H.J.Res. 102

October 11, 2006
President Bush Discusses the Economy and Budget

Fact Sheet: Economic Strength and Spending Restraint Drive Down Budget Deficit

September 26, 2006
President Bush Signs Federal Funding Accountability and Transparency Act

Fact Sheet: Achieving Greater Transparency and Accountability in Government

September 14, 2006
President Applauds House Vote in Support of Greater Transparency and Accountability in Government

September 13, 2006
President Bush Applauds House Passage of S. 2590, the Federal Funding Accountability and Transparency Act of 2006

July 15, 2006
President's Radio Address

April 1, 2006
President's Radio Address

February 8, 2006
President Signs S.1932, Deficit Reduction Act of 2005

President's Statement on Signing the Deficit Reduction Act of 2005

Fact Sheet: President Bush Signs the Deficit Reduction Act

President Discusses 2007 Budget and Deficit Reduction in New Hampshire

February 6, 2006
Press Briefing on the President's Fiscal Year 2007 Budget by Office of Management and Budget Director Joshua B. Bolten

Press Briefing on the President's Fiscal Year '07 Budget and Low-Income Programs

Fact Sheet: Highlights of the President's FY2007 Budget

Budget Launches ExpectMore.gov to Improve Programs’ Accountability, Transparency

February 2, 2006
Federal Employees Improve Government Effectiveness, Deliver Substantial Results

Ask the White House

Clay Johnson
OMB Deputy Director for Management
October 16, 2006
February 9, 2006

Rob Portman
OMB Director
July 12, 2006

Joel Kaplan
OMB Deputy Director
February 7, 2006

Video

Radio

FY2007 Budget