
Federal Spending & The Budget | |
GOP Budget Goals Relatively Modest |
The Republican road map for balancing the federal budget in seven years is far from the radical plan often described -- in fact, it is quite modest.
The federal government will still spend an incredible $12 trillion from now through 2002. One reason is that only about 50 of the 300 programs the Republicans wanted to eliminate actually got the ax. As for tax cuts, the $245 billion slated for the seven years represents only 0.4 percent of the nation's total economic output. The Republicans' seven-year plan is actually less bold than plans offered up by lawmakers and presidents in the past. Source: John Merline, "How Radical is the GOP Budget?" Investor's Business Daily, November 20, 1995. |
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