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Hells Angels leader killed in S.F.
House Majority Leader Steny Hoyer, D-MD, speaks to the media about the accomplishments of Congress this year on Capitol Hill in Washington on December 19, 2007. The Democrats claimed success in raising the minimum wage, passing an energy bill and other areas but blamed Republican obstruction for failure to expand SCHIP and pass other measures. (UPI Photo/Roger L. Wollenberg)
Bush released his $3 trillion budget document, which he said would lead to a balanced budget by 2012.
"President Bush's final budget is simply a continuation of failed policies that have created dangerous deficits and debt, while at the same time decreasing critical investments in our nation's future," House Majority Leader Steny Hoyer, D-Md., said in a statement.
The 2008 deficit is projected to be $410 billion, or 2.9 percent of gross domestic product, and the 2009 deficit is projected to be $407 billion, or 2.7 percent of gross domestic product.
"Despite my deep concerns with the president's budget, I am hopeful that we can build on our success with a bipartisan economic stimulus and find areas of agreement," Hoyer said.
Senate Majority Leader Harry Reid, D-Nev., said in a statement the latest Bush budget is no different from his others, which "have weakened our economic security."
"In the face of a looming recession, the president's budget does nothing to strengthen our economy and fails to respond to the real problems facing middle-class families," Reid said.
