Concurrent Resolution On The Budget For Fiscal Year 1996 Vol 1 Of 4 PDF Download

Excerpt from Concurrent Resolution on the Budget for Fiscal Year 1995, Vol. 1 of 2: Hearings Before the Committee on the Budget, United States Senate, One Hundred Third Congress, Second Session So some of us talk in terms of ratios, and the ratio is now $9 in taxes for $1 in actual spending cuts, and I believe the Director will confirm that. So what was the rest of the deficit reduction? Again, I am very pleased that this has occurred, but I don't want to crow about the improved economic situation. Let us talk about the $113 billion in reestimates, which is where all the rest of the savings come from. Much of the deficit reestimate is due to technical changes, where we erroneously figured what something would cost. I will just give you those numbers quickly. The largest technical change came in the Deposit Insurance Fund or the rtc requirements. We were $21 billion off the mark in terms of how much that would cost. I do not believe much of the error is attributable to anything we did in terms of reconciliation or budget constraint. And the rest was $14 billion that came from medicare and medicaid reestimates, and again I think little or none of that came from actual changes mandated by law. The rest is just estimating too high a number. So, essentially, I guess I might say I am very pleased with all the positive things that are occurring. It is very hard for this Sen ator to believe that all of them were made possible by the budget reconciliation, a deficit cut and the tax activity of last year, when essentially that provided $50 billion of reduction in the deficit, $45 billion of which is taxes. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.