The House Budget Committee approved it's version of the FY 2007 budget resolution last night by a 22 - 17 vote. The resolution sets discretionary spending at the president's proposed level of $873 billion and outlines $6.8 billion in entitlement cuts across a swath of different programs. The $873 billion level would cut overall spending on discretionary programs by $8.8 billion in 2007 and by $169 billion over the next five years after adjusting for inflation. There will likely be even greater cut backs for non-defense, non-homeland security spending as defense spending is slated for a whopping seven percent increase ourside of costs for the war in Iraq. In the end, despite hard rhetoric about fiscal responsibility and discipline, this GOP budget will make deficits worse than they are already going to be - increasing them an additional $256 billion above what they would be if current policies are left unchanged over the next five years. This budget is a step away from sound fiscal policy and once again asks average Americans to bear the brunt of spending reductions through fewer investments in our country and our citizens. In the end, those cuts will have no impact on the increasingly dire fiscal outlook for the nation. House Panel Approves Budget Outline