Report: Bush agenda may spike federal debt

WASHINGTON, Dec. 15 (UPI) -- Budget estimates show President George W. Bush's opposition to tax increases could raise the U.S. federal debt by $239 billion.

Bush has said he wants nearly $200 billion for the wars in Iraq and Afghanistan, The Washington Post reported Saturday. In addition, he opposes Democratic efforts to recoup the cost of a measure to stave off the growth of the alternative minimum tax, the AMT, now threatening more than 20 million upper-middle-income households, the Post reported.

If Bush prevails on the war spending and Congress, as expected, passes a bill without making up the lost revenue from an AMT revision, it would add about $239 billion to the federal deficit this fiscal year, the Post reported.

Bush also defeated $21 billion in revenue increases that would have paid for tax incentives to support renewable energy, conservation and other programs he previously has supported, the Post reported.

"It's ridiculous. He has compromised his own position," said Sen. Charles E. Grassley, of Iowa, the conservative ranking Republican on the Senate Finance Committee.