This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bush Avoids Most Budget Issues in State of the Union Address

President Bush steered clear of most fiscal issues during his State of the Union address Tuesday night.

After announcing that "the tax relief you passed is working" early in his speech, the president went on to urge citizens to petition Congress to make the tax cuts passed in 2001, 2002 and 2003 permanent. As it stands now, virtually all the tax cuts instituted under this administration are due to expire in two to six years.

In an attempt to revive a suggestion first floated more than a year ago, , President Bush made a passing reference to his administration's proposal to allow workers to divert some of their payroll taxes from Social Security and instead invest the money in individual private accounts. This idea never gained any traction in Congress.

"We should make the Social Security system a source of ownership," Bush said. Analysts have put the cost of the various administration plans at as much as $1 trillion over the next 10 years.

In addressing health care policy, Bush also noted that health care premiums should be 100% deductible, but that "a government-run health care system is the wrong prescription."

The president mentioned a few spending programs -- such as a $430 million program to aid prisoners that have completed their sentence to acclimate to society -- but ignored other proposals, such as his $12 billion plan to expand the space program.

The president also promised to limit discretionary spending to 4%, claiming that by doing so the federal government will be able to cut the federal deficit in half in five years.

The current deficit is about $500 billion.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $125.88 1.10%
FB $86.16 0.42%
GOOG $524.85 0.64%
TSLA $268.31 2.40%
YHOO $39.41 1.30%

Markets

DOW 17,674.06 +77.71 0.44%
S&P 500 2,066.57 +8.93 0.43%
NASDAQ 4,992.2190 +33.7510 0.68%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs