In Washington, President Bush sent his $2.9 trillion budget proposal to Congress on Monday. If approved, the budget will bring defense spending to levels not seen since the Reagan administration. Bush is seeking over $700 billion for the Pentagon as well as for the wars in Iraq and Afghanistan.

Sen. Kent Conrad (D-ND), the chair of the Senate Budget Committee: “The president’s proposals, if adopted as presented, would take us right over the cliff into a chasm of debt. The president, over the long term, his proposals would put us awash in red ink.”

The military funding request is greater than the annual gross domestic product of all but 14 countries.

President Bush: “Our priority is to protect the American people. And our priority is to make sure our troops have what it takes to do their jobs. And we also have got priorities of national parks and education and healthcare. But we approve it, and I strongly believe Congress needs to listen to a budget which says no tax increase, and a budget, because of fiscal discipline, that can be balanced in five years.”