President Bush Proposes $3.1 Trillion Budget To Congress

President George Bush has unveiled a $3.1 trillion budget Monday that will support increases in military funding to reportedly fight the war on terrorism and protects his signature tax cuts.

President George Bush has unveiled a $3.1 trillion budget Monday that will support increases in military funding to reportedly fight the war on terrorism and protects his signature tax cuts.

The proposal will show the government spending $3 trillion in a 12-month calendar period, which would be the first time in history for such a budget. The spending proposal also goes on to request $196 billion in savings for the next five years for the health care programs such as Medicare and Medicaid.

In addition, the White House plans to ask for approximately $515 billion for the Pentagon, and an additional $70 billion for conflicts in Iraq and for other locations for the fiscal year 2009 during the first few months.

As of now, experts are questioning whether President Bush can pull it off by cutting the spending and honor his pledge which he promised to balance the budget by 2012.