Monday, Nov. 29, 1999

Check It Out!

U.S. government budget deficit and projected surplus

'90 -$221 billion '99 $120 billion '09 $413 billion

Cumulative surplus: $2.9 trillion

Of this $2.9 trillion, $1.9 trillion is set aside for Social Security, leaving $1 trillion

Source: Congressional Budget Office July 1, 1999

For $1 trillion, you can buy any of:

Food for 121,124,031 families of four for a year in the U.S. 588 Space Shuttles 12 Bill Gateses 62.5 billion School Library Books Health Insurance for 44 million Americans for 10 years $3,664.50 for every man, woman and child in the U.S. Texas (gross state product $600 billion) and Illinois (GSP $400 billion)

PROPOSED REPUBLICAN BUDGET

ORIGINAL PLAN Tax cuts: $792 billion Debt reduction: $257 billion Increase in govt. spending: None

ECONOMIC IMPACT OVER 2000-04 Economic growth: 3.23% per year Inflation: 2.6% per year Jobs: 1.525 million per year

PROPOSED DEMOCRATIC BUDGET

ORIGINAL PLAN Tax cuts: $203 billion* Debt reduction: $468 billion Increase in govt. spending: $378 billion

ECONOMIC IMPACT OVER 2000-04 Economic growth: 3.20% per year Inflation: 2.6% per year Jobs: 1.510 million per year

*Net of new proposed taxes

These data are based on the Sinai-Boston Econometric Model of the United States, a 700-equation representation of the U.S. economy