Startling Facts about the budget:.

             As of 1996, the national debt was at an all time high of $5 trillion dollars, with interest running at a whopping $250 billion per year. This equals out to an individual responsibility of more than $50,000 per taxpayer. Nearly 90% of that debt has accumulated since 1970, and between 1980 and 1995, the debt grew by 500%. Currently, the debt grows by more than $10,000 per second, and at current rates, our government is about to reach its breaking point. If that"s not enough to scare a taxpayer, by 2002, 60% of government spending will be for entitlements, and by 2012, these programs are projected to take up all government revenue. Not only economic development, but also family income is hurt by debt. With the cost of living going up, it becomes harder to find a job. According to the Concord Coalition, real wages peaked in 1973 and have gone down ever since. If the economy grew as fast as it did in 1950, without a debt, the median family income would be $50,000, compared to the present median of $35,000. As of current fiscal year"s budget, the United States government spends $1.64 trillion yearly, $500 billion of that, or 1/3 of the total, is for discretionary spending. This discretionary spending is the target for most cuts, and seems to be the easiest to make cuts in. Overall, the difference between the two parties' budget plans is only $400 billion. This could easily be trimmed by eliminating tax cut and adjusting the consumer price index to reality. Democrats say the GOP plan is too lopsided, and Republicans criticize the Democrat plan for being unrealistic. A study by the Urban Institute shows GOP cuts will be felt mainly by the bottom 1/5 of U.S. population. This should be more equally spread out across income brackets. .

             The GOP plan:.

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             By fulfilling campaign promises made by freshman Republican Congressmen to cut government spending, the GOP managed to pass a $1.