Statement of U.S. Senator Daniel K. Akaka on the President's FY 2005 Budget

STATEMENT OF U.S. SENATOR DANIEL K. AKAKA ON THE PRESIDENT'S FY 2005 BUDGET

Hawaii Lawmaker Decries Skyrocketing Deficit as President's Legacy of Debt to Future Generations

Washington, D.C. - President Bush's budget, and its half trillion dollar deficit, have put us on a path to leave future generations a legacy of debt, rather than one of opportunity. The President has taken the Federal budget from a surplus in 2000 of $236 billion to the largest deficit in our history in 2004, at $521 billion. This Administration's reckless fiscal policies have created skyrocketing deficits well into the future, and they constitute a preemptive strike on the economic security of future generations of Americans.

Much of the spending that has contributed to this deficit is important to shoulder, including funds to enhance our homeland security and to support our troops in military and anti-terrorism operations abroad. However, if, in addition, the Bush Administration and leadership in the Senate and House intend to extend and expand all of the massive tax cuts enacted in the last three years, the deficit will skyrocket to $861 billion in 2013.

Rather than pouring more of our hard-earned dollars into tax relief for those with the highest incomes and most savings, the Bush Administration needs to refocus its attention on real needs impacting real people. As our schools struggle to comply with the No Child Left Behind Act, President Bush underfunded it by $6 billion in FY04, and his budget continues the shortfall in FY05. The Bush Administration is again choosing to underfund the No Child Left Behind Act in FY05 by requesting only $13.3 billion for Title I programs-more than $7 billion below the authorized level of $20.5 billion. In all, NCLBA programs are slated for a $9.4 billion shortfall, at $24.9 billion instead of $34.3 billion as authorized by the law.

Although Hawaii would receive $67 million under this proposal, 7,454 disadvantaged students across the state will be denied services under NCLBA. I am also concerned about the 38 education programs recommended for termination, without the discernible use of objective criteria, including the Excellence in Economic Education Act, dropout prevention, smaller learning communities, school leadership, school counselors, and foreign language assistance. There is one bright spot in education, the budget does recommend level funding of $33 million in Native Hawaiian education funding.