BUDGET SPENDING
This country has been dealing with a budget deficit for many years now. 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 2001. 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 first balanced budget since 1969. Current budget plans are dependent on somewhat unrealistic predictions of avoiding such catastrophes as recession, national disasters, etc., and include minor loopholes. History has shown that every budget agreement that has failed was too loose. One might remember the Gramm-Rudman-Hollings bill that attempted to balance the budget, but left too many exemptions, and was finally abandoned in 1990. So after a pain-staking trial for GOP Republicans to create, promote, and pass their budget, as promised on campaign trail 94, Clinton rejected the very bill he demanded. This essentially brought the federal budget back to square one. Clinton thought such a demand on Republicans to produce a budget would produce inner-party quarrels and cause the G
programs like education, crime prevention, and research or environmental grants. Attention was also placed on discretionary spending, with Clinton cutting a smaller $297 billion compared to GOP's $394 billion cut. According to the Office of Management and Budget, the President's plan cuts middle-income taxes by $107.5 billion in 7 years, small business by $7 billion, and cuts $3.4 billion from distressed urban and rural area relief. This was to be paid for by a $54.3 billion hike in corporate and wealthy-income taxes, and also in $2.3 billion of tighter EITC (Earned Income Tax credit) adjustments. Although Clinton's plan was expected to cut a whopping $593 billion in 7 years to furthermore produce an $8 billion surplus in 2002, most cuts are long term without a clear goal. Republicans sometimes criticize Clinton for unwillingness to compromise. He has used vetoes and stubborn negotiations to protect personal priorities like education, job training, and environmental programs, but Republicans have also tried using domination to force him to comply. One must remember that President Clinton does have somewhat of an overwhelming power in this debate that Republicans can do nothing about. He is the single person that can veto laws sent to him, and also has the power to call Congress back into session if he is unhappy with the current situation. This was President Truman's "ace in the hole" back in 1948.
Some common words found in the essay are:
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Approximate Word count = 2121
Approximate Pages = 8 (250 words per page double spaced)
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