WHERES THE BEEF IN BUDGET CUTS?
President Clinton’s inaugural address declared the era of big government spending was over. According to economists, however, the latest budget deal proves it is not: • The budget deal achieves only half of the deficit reduction of the 1990 deal, and the latter produced higher spending. • Compared to the 1993 Clinton targets –which also led to higher spending — the latest proposal envisions 40 percent less in savings. The little savings the budget deal would achieve are in the out years and bogus, according to analysts: • More than half of the savings come after the year 2000. • Much of the savings were achieved by increasing the “baseline budget,” like doubling the price of a pair of shoes and advertising a 50 percent cut off the listed price. Economists observe, however, the budget deal does effectively achieve one goal, higher spending: • Under the five-year plan, domestic discretionary spending will increase by $70 billion, for programs such as foreign aid, corporate welfare, and
