…amounts already borrowed. A large portion of the stimulus bill was wasted in useless tax cuts, including the AMT patch for upper middle class America and more business breaks for…

…exemption amounts for the AMT; implementation of a cap-and-trade program to reduce greenhouse-gas emissions; and limits on itemized deductions.” EXPENDITURES: “Proposed changes in spending programs would add $1.7 trillion (excluding…

…billion to the proposed changes in the AMT.) Combining those effects, CBO estimates that enacting the Senate amendment would increase federal budget deficits by $233 billion over the remaining months…

…the top 1 percent of Americans — those with incomes over $450,000 — exceeds the entire Social Security shortfall.(5) (4.includes part of the AMT fix). What makes the donut proposal…

…presidency from the CBO (see the January 2006 report: Budget and Economic Outlook), including the recently-passed extension of the cut in capital gains taxes and AMT relief. Excluding the Social…

…to expire (most of them in 2010). After that, real bracket creep (real income growth pushing taxpayers into higher tax brackets) and the AMT cause total revenues to gradually rise….

…future tax cuts, and AMT relief. All of these major factors affecting the budget are frequently excluded from Bush administration budget forecasts whenever they are inconvenient to their rhetorical goals….

…decade is from the CBO. This CBO forecast assumes that Bush’s tax cuts are made permanent, that AMT is mostly fixed, that spending in Iraq and Afghanistan tapers off gradually…

…repealing the estate tax, making the 2001 and 2003 tax cuts permanent, and fixing the AMT problem. The fact that the huge 2005 deficit will be somewhat smaller than 2004’s…

…the wealthy and ever larger budget deficits. Of course there are a few spending cuts, mostly on programs for the poor, and no action on the Alternative Minimum Tax (AMT),…