Government Spending
As many Federal departments and agencies lurch into an era of running without funds, the leaders of both parties of Congress are spending less and less time searching for a compromise to balance the budget, and more and more time deciding how to use it to their advantage on the campaign trail. Meanwhile money is easily borrowed to pay for government overhead. In an attempt to change this, on June 29, Congress voted in favor of HConRes67 that called for a 7 year plan to balance the Federal Budget by the year 2002 (Hager 1899). This would be done by incorporating $894 billion in spending cuts by 2002, with a projected 7 year tax cut of $245 billion. If this plan were implemented, in the year 2002, the U.S. Government would have the There is doubt by citizens that a balanced budget will become reality. A recent Gallop Poll from January, 1996 showed the budget as the #1 concern among taxpayers, but 4/5 of those interviewed said they doubt the GOP will do the job (Holding 14). Meanwhile, an ABC poll from November reported that over 70% of those polled disapprove of the current performance by Congress, and most blamed politicians for failure to take action
whopping $593 billion in 7 years to furthermore produce an $8 billion surplus in 2002, most cuts are long term without a clear goal. In defense of deficits, some may argue that the danger of the current situation is highly over rated. A budget deal has always had less to do with economics than with politics and morality. Budget deficits don't crowd out private investment, government spending does, and a large surplus may not be a sign of strength for a country. Some say it is impossible for every country to run either a surplus or a deficit. What matters is that a country can service its debts (Defense 68). During most of the 19th century, the United States borrowed from the world (a current-account deficit). By 1870, it was running a trade surplus, and by 1900 we had a current-account surplus. But in the early 2Oth century, the U.S. became the world's largest net creditor, and by 1970 it peaked by finally running into deficit in 1970. Finally, 1980 brought a deficit so large, that the government was a net debtor again (Bottom Line 14). Clinton is sometimes criticized for producing a stalemate in budget talks, the White House points out that the debt has gone down since Clinton took office, with unemployment also falling. Republicans are quick to state that Clinton originally increased taxes in 1993 and cut defense programs, but his overall plan was for an increasing budget without deficit reduction.
Some common words found in the essay are:
Social Security, Congress Hosansky, Rau M-1, Defending Deficits, Treasury Department, White House, Federal Government, Concord Coalition, Congress Clinton, Budget Clinton's, rau m-1, gop plan, social security, discretionary spending, government spending, balanced budget, clinton's plan, reform entitlements, gop budget, family income, clinton sometimes criticized, 1/5 income families, retirement 65 70,
Approximate Word count = 2822
Approximate Pages = 11 (250 words per page double spaced)
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