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Reinvoking dated 1980s supply-side theories to solidify his conservative political base , Bush 's tax plan proposed giving stock owners $ 364 billion in tax breaks a year and boosting the size of the tax cuts already passed in 2001 by nearly $ 300 billion , but only 15 percent of which would be accelerated to impact the stalled economy in 2002 . Net equity capital inflows , at $ 30.4 billion , were down from $ 36.2 billion , but remained strong ; they included several large-scale foreign acquisitions of U.S. companies , largely by Western European purchasers . Siriusly scary finances Let 's begin with a reality check : Sirius is a firm that closed last Friday with a market cap of $ 3.8 billion , but has recorded just under $ 8 million in sales for the first three quarters of 2003 . Raised another $ 26 billion , but we still had $ 334 billion left remaining in the deficit . The Mid-Session Review in July projected a budget deficit for Fiscal 2004 of about $ 445 billion , but growth in the economy and jobs has already contributed to an improvement , with the deficit coming in at $ 413 billion , equivalent to about 3.5 percent of GDP .