print-only banner
The White House Skip Main Navigation
 Home > News & Policies > Policies in Focus > Budget Management

Reducing Deficits Each Year and
Balancing the Budget by 2012

The President’s FY2008 Budget reduces the deficit each year and reaches a balanced budget within five years. A strong economy and better spending restraint will help us achieve this goal, while continuing to invest in the Nation’s prosperity and security.

Keeping the Economy Strong

  • The Budget makes tax relief permanent to ensure our strong economic growth continues.
  • Since the President’s tax relief took effect, increased innovation and investment has created more than 7 million new jobs, and helped boost wages.
  • Pro-growth polices that focus on providing quality education, affordable health care, energy security, and making Americans more competitive will sustain economic growth and prosperity for future generations of all Americans.
Spending Taxpayers Dollars Wisely
  • The Budget holds the growth in non-security discretionary spending to one percent, well below the rate of inflation.
  • Budget reforms, including comprehensive earmark reform and a legislative line-item veto, will help eliminate wasteful and unnecessary spending.
  • Sensible reforms are needed to slow the unsustainable growth of entitlement spending.
Combating Terrorism and Protecting the Homeland
  • The Budget supports our troops fighting terrorism, strengthens our military for the future, supports our efforts on the diplomatic front and protects our homeland from attack.
  • This Budget improves the timeliness and specificity of the information provided to Congress and the American public about the cost of the war.
  • It shows the full cost of the war through the rest of the President’s term –and also provides detailed justifications.

State by State Budget Info

State By State Information

Press Releases

December 4, 2007
Press Conference by the President

November 28, 2007
Text of a Letter from the President to the Speaker of the House of Representatives and the President of the Senate

November 9, 2007
Setting the Record Straight: Congress Refuses to Compromise on Excessive Spending

October 30, 2007
President Bush Urges Congress to Pass Appropriations Bills

September 24, 2007
President Bush Discusses Budget

September 4, 2007
President Bush Commends Senate for Confirming Jim Nussle as OMB Director

August 3, 2007
Press Briefing on the Economy and Budget by Senior Administration Officials

July 19, 2007
Fact Sheet: Balancing the Budget While Keeping Taxes Low

July 11, 2007
President Bush Discusses the Budget

Fact Sheet: Growing Economy and Fiscal Discipline Working to Reduce Budget Deficit

April 14, 2007
President's Radio Address

March 31, 2007
President's Radio Address

February 6, 2007
President Bush Discusses Fiscal Responsibility

Fact Sheet: Balancing the Budget Without Raising Taxes

February 5, 2007
President Bush Meets with the Cabinet

Press Briefing by OMB Director Rob Portman on the President's Fiscal Year 2008 Budget

2008 Budget Fact Sheets

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


Mid-Session Review, Budget of the United States Government, Fiscal Year 2008 Mid-Session Review, Budget of the United States Government, Fiscal Year 2008
(52 pages, 1.13 MB) PDF


OMB Budget Briefing2008 Budget Fact Sheets (48 pages, 407 KB) PDF


Ask the White House

Steve McMillin Steve McMillin
Deputy Director at the Office of Management and Budget
July 19, 2007
February 6, 2007

FY2008 Budget

Table of Contents