Government Spending

Length: 12 Pages 3061 Words

Government Spending & Budget 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 first balanced budget since 1969. 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 Continue...

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A HHS analysis states that the GOP plan would also boost child poverty rates from 14. Clinton thought such a demand on Republicans to produce a budget would produce inner-party quarrels and cause the GOP to implode. As entitlement debates continue, "the interests of older Americans are being protected at the expense of young people," says Neil Howe and Bill Strauss (Rau M- 1). Attention was also placed on discretionary spending, with Clinton cutting a smaller 297 billion compared to GOP's 394 billion cut. Among largest cuts within Clinton's plan was the downsizing of 15 to 13 of all programs that he felt were not a priority to present day government. United States Treasury Department studies say the bottom 15 income families would have net tax increase of an average 12 to 26 under the GOP plan. most blamed politicians for failure to take action (Cloud 3709). Even Democrats now agree to downsize the government, but the two parties disagree on how and where. A Neutral Proposal: As a neutral proposal, a group calling themselves the "Blue Dog's" have won support for their budget from both Republicans and Democrats. 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 (Rau M-1). The government already has reduced Social Security for modest income seniors age 70 and younger, but budget cutters want to broaden that idea (Henderson 60). This is because entitlement programs currently take up 301 billion a year. 3 billion of tighter EITC (Earned Income Tax Credit) adjustments. The center of attention for debate on budget cutting is politics, and whomever takes responsibility for reform gets left wide open to criticism.


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