
Federal Spending & The Budget | |
Clinton's Astounding Budget |
Advocates of limited government and restrained government spending are reeling at the vastness of President Clinton's proposed fiscal year 2000 budget. With the single exception of 1944 during World War II, never in the history of the U.S. would the federal government grab a greater share of the nation's gross domestic product.
Critics deplore the tax-bracket creep that is the result of prosperity. As incomes rise, taxpayers are steadily pushed upward into steeply progressive tax rates. Meanwhile, federal spending increases. Budget experts at the Cato Institute have identified nearly $150 billion in new spending during the next five years. With inflation running below 1 percent in 1998, the budget projects hefty increases of more than 4 percent during both 2000 and 2001 for domestic discretionary spending. Sources: Editorial, "The Lewinsky Budget," Wall Street Journal; and editorial, "Tax and Spend, Tax and Spend," Washington Times, both February 2, 1999. For more on the Budget for 2000 http://www.ncpa.org/pd/budget/budget.htm |
Home | Support Us | All Issues | Social Security | Debate Central | Contact Us
Dallas Headquarters: 12770 Coit Rd., Suite 800 - Dallas, TX 75251-1339 - 972/386-6272 - Fax 972/386-0924
Washington Office: 601 Pennsylvania Ave. NW, Suite 900 South Building - Washington, DC 20004 - 202/220-3082 - Fax 202/220-3096
© 2001 NCPA