Updated Analysis of President's FY 2005 Budget On Institute Website -- February 5, 2004 -- California Capitol Hill Bulletin -- Volume 11, Bulletin 4

On Thursday, February 5, the California Institute updated and posted ( http://www.calinst.org ) an updated analysis of the Bush Administration's Budget Proposal for Fiscal Year 2005. The Budget proposes outlays of $2.4 trillion for fiscal year 2005, and assumes a deficit of $364 billion. The discretionary portion of outlays would be $914 billion, whereas mandatory outlays would total $1.3 billion. The Budget proposes discretionary spending of $818.4 billion in new budget authority, a 3.9 percent increase from 2004. President Bush has urged keeping spending growth increases at 3 percent per year through 2009.

In more than 2500 pages, the budget documents outline the Administration's recommendations for discretionary and mandatory spending, as well as its revenue proposals. Developing a reliable analysis of any budget is difficult. A California-oriented analysis of the proposal prepared by the staff of the California Institute, updated on February 5, 2004, is available on the Institute's website in text form at http://www.calinst.org/pubs/prbdg05.htm or in Adobe Acrobat (pdf) format at http://www.calinst.org/pubs/prbdg05.pdf .

To expand communications between Washington and California, the California Institute provides periodic bulletins regarding current activity on Capitol Hill that directly impacts our state. Bulletins are published weekly during sessions of Congress, and occasionally during other periods.

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