Click for Highlights of Al's Detailed Budget Blueprint
July 7, 2008 - 7:26 PM
(CNSNews.com) - "We will under-spend the surplus," Democrat Al Gore promised Americans Wednesday, as he detailed all he intends to do, and how he intends to pay for it, if he's elected president.
Among other things, Gore announced that he will set aside some money for a rainy day - "to be absolutely certain we don't spend money that we don't have."
He proposes setting aside $1 of every $6 of the projected federal surplus, to be held in reserve for emergencies without running up federal budget deficits. "So if today's economic forecast falls short, this new reserve fund will guarantee that...we will not have to cut education or health care."
Gore said the reserve fund will not be used for new spending, new tax cuts, "or promises or proposals of any kind."
In his speech Wednesday in Cleveland, Gore specifically laid out what he plans to do.
- \tab Increase real family income by a third over the next decade;
- Boost home ownership rates to 70 percent;
- \tab Eliminate the debt by 2012;
- \tab Reduce poverty rates to below 10 percent for the first time in history;
- \tab Double the number of people with accumulated savings of more than $50,000;
- \tab Increase college attendance and graduation rates;
- \tab Reduce the pay gap between men and women;
- \tab Create 10 million new high-tech jobs; and cut the tax burden on average families earning $47,000 or less, through targeted tax cuts.
Gore announced that details of his budget blueprint - how he intends to accomplish his goals -- is available on his Website.
Wire services report Gore's 191-page, 69,000-word blueprint has 12 chapters and is stuffed with charts, graphs and footnotes.