More Money For Just About Everything
January 21, 1999
Cato Institute economist Stephen Moore has compiled a preliminary estimate of the costs of President Clinton's spending wish-list contained in his State of the Union speech on Tuesday.
Moore figures the cost of the programs he outlined would total at least $100 billion over the next five years.
Here is a partial list of them:
- Expanding Medicare to non-seniors would eat up $25 billion; Medicare drug benefits, $10 billion; increases in veterans' benefits, $8 billion.
- Higher military pay, $15 billion; federal land purchases, $5.5 billion; new carpool lanes, bike paths and transit spending, $1.5 billion; and $4 billion for parks.
- New farm programs, $10 billion; assistance to the homeless, $1.5 billion; new school construction and other education assistance, $20 billion; Ex-Im Bank, OPIC and corporate welfare, $3.5 billion.
- Child care and after-school programs, $7.5 billion; drug testing $1 billion; AmeriCorps expansion, $1 billion; and global warming research, $2 billion.
There was no mention among the President's suggestions of doing away with any existing federal program.
Source: Stephen Moore (Cato Institute), "Big Federal Blanket," Washington Times, January 21, 1999.
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