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Politics : Ask Michael Burke
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To: Earlie who wrote (71358)12/3/1999 8:51:00 AM
From: gnuman  Read Replies (1) of 132070
 
Congress Exceeded Spending Ceiling by $37 Billion, CBO Says

"A final accounting of congressional spending this year confirms that Congress blew the fiscal 2000 spending ceiling by $37 billion and in the process heavily relied on the Social Security surplus to help cover the additional spending.

The year-end report by the nonpartisan Congressional Budget Office also warned that if Congress continues to spend at this clip, the surplus both parties are counting on could turn into a deficit the following year, when a new Congress and president take office. Republican presidential front-runner George W. Bush this week unveiled an ambitious $1.1 trillion tax-cut plan for the coming decade solely financed by future surpluses.........."

washingtonpost.com
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