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For Immediate Release
Office of the Press Secretary
February 6, 2006

Fact Sheet: Highlights of the President's FY2007 Budget

      Press Briefing on the President's Fiscal Year 2007 Budget by Office of Management and Budget Director Joshua B. Bolten
      In Focus: Budget 2007

The President's 2007 Budget continues the successful pro-growth policies that have encouraged robust economic growth and job creation. A strong economy, together with spending restraint, is critical to reducing the deficit. The Budget builds on last year's successful spending restraint by again holding the growth of overall discretionary spending below inflation, proposing to reduce non-security discretionary spending below the previous year's level, and calling for the elimination or reduction of programs not getting results or not fulfilling essential priorities. Like last year, the budget proposes savings and reforms to mandatory spending programs, whose unsustainable growth poses the real long-term danger to our fiscal health.

Continuing Our Economic Expansion

The Budget continues the President's pro-growth policies vital to our economy's continued expansion. With the full implementation of the President's tax relief plan in 2003, the Nation has added more than 4.7 million new jobs, productivity has increased at a 3 percent annual rate, homeownership has reached all-time highs, and the American economy is growing faster than other major industrialized nations.

Restraining Spending and Cutting the Deficit

Through continued pro-growth economic policies and spending restraint, the Budget keeps us on track to meet the President's goal of cutting the deficit in half by 2009. The Budget:

The Long-Term Fiscal Danger

The greatest threat to our fiscal health over the long-term comes from unsustainable growth in entitlement programs such as Social Security, Medicare, and Medicaid.

Focusing On National Priorities

The Budget focuses taxpayer resources on National priorities like the War on Terrorism, health care, energy research and strengthening our global competitiveness through improved math and science education and research.

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