For only the second time since 1987 when Congress set April 15 as its budget deadline, the House and Senate have approved a plan for fiscal spending on time. The budget highlights the GOP's political message of tax cuts. Although the specific tax cuts have not yet been determined, the blueprint sets overall limits for spending and taxes for the fiscal year beginning October 1. The budget does not require the president's signature. Appropriations legislation, passed by both legislatures and approved by President Bill Clinton, must fill in the gaps and sets overall tax and spending targets.
Republicans also intend to increase defense and domestic spending by cutting other programs.
We're also pleased this Congress can get its work done. Democrats charge the Republican plan chooses tax cuts over shoring up social programs like Medicare. Republicans would like to use that money to reduce the national debt. Democrats, being the minority, hope to reach a bipartisan compromise that would use the funds to revamp Social Security and Medicare in preparation for the Baby Boom generation that is expected to bankrupt both systems. Republicans counters that reducing the national debt and cutting taxes would grow the economy and a stronger economy would help solve the problems with the hallmark social programs.