
Federal Spending and the Budget | |
Federal Spending Just Keeps On Growing |
It appears that the fiscal 1999 federal budget will be $1.75 trillion -- larger than the gross domestic product of Canada, Mexico, Ireland, New Zealand and Sweden combined. Opponents of big government blame Capitol Hill Republicans for caving in to President Clinton's demands for more money for both new and old programs. Here are some examples:
A number of budget-watchers are accusing Congress of passing up a rare opportunity to give back to Americans some of their taxes through a cut in rates. Cato Institute economist Stephen Moore points out that by allowing revenues to keep flooding in to the government, a 20 percent flat tax on a revenue-neutral basis is no longer possible. Source: Aaron Steelman, "Era of Big Government Remains," Investor's Business Daily, October 19, 1998. |
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