President Clinton sent his budget for fiscal year 2000 to Congress Monday, and despite a projected record surplus, he declined to offer the across-the-board tax cut sought by Republicans. The US$400 billion earmarked for the military is the largest increase in defense spending in years. Clinton's budget forecasts a surplus of $76 billion, which he'd like to plow into shoring up Social Security and other domestic programs. Republicans were quick to criticize the lack of an income-tax cut -- their personal pet -- and the overall increase in spending. Clinton brushed GOP kvetching aside, proclaiming, "Our economic house is in order and strong."
US Budget: $1.77 Trillion
President Clinton sent his budget for fiscal year 2000 to Congress Monday, and despite a projected record surplus, he declined to offer the across-the-board tax cut sought by Republicans. The US$400 billion earmarked for the military is the largest increase in defense spending in years. Clinton's budget forecasts a surplus of $76 billion, which he'd like to plow into shoring up Social Security and other domestic programs. Republicans were quick to criticize the lack of an income-tax cut -- their personal pet -- and the overall increase in spending. Clinton brushed GOP kvetching aside, proclaiming, "Our economic house is in order and strong."
