Clinton's Spending Proposals
February 24, 1997
President Clinton wants the federal government to spend $9 trillion between now and the year 2002.
- For fiscal year 1998 alone, he would spend $1.7 trillion -- which comes to $25,480 for a typical American family of four.
- Between now and 2002, the federal government will have to borrow $344 billion.
- That amounts to $3,440 in new debt on top of the $39,000 the typical American household already owes for past federal services.
- The net tax cut which Clinton proposes over the next five years is a mere $22 billion.
This means that for every $100 taxpayers send to Washington, they'll get back only 25 cents.
Source: William Beach and John Barry (both of the Heritage Foundation), "Budget Bridge That Needs Work," Washington Times, February 24, 1997.
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