The recently released 1992 federal budget documents the failure of the federal government to live within its means.
The United States has experienced the longest peacetime economic expansion in its history, due to tax reductions enacted during the 1980s.
The Clean Air Act was passed in 1970 and has been amended on several occasions. Recent amendments proposed by President Bush have been so altered in the Senate and the House of Representatives that they now risk a presidential veto. These altered proposals would create costly burdens for consumers, workers and industry in an effort to reduce acid rain, and ozone pollution, emissions from automobiles, and toxic chemicals.
This year 25 states — leb by California, Massachusetts, New Jersey, and New York — have approved roughly $10 billion in new taxes, making 1990 the second-largest state tax increase year on record. No state cut taxes significantly.
As the U.S. economy falters on the eve of a serious recession, leaders in both political parties are proposing new taxes as a way to reduce the federal deficit. This strategy is self-defeating. The new taxes will make the recession deeper and longer and will lower our economic growth rate throughout the 1990s.
There are remarkable differences among the people we label as 'poor'. The poverty population includes the elderly poor as well as unwed teenage mothers. It includes people with university degrees as well as people who are functionally illiterate. It includes the healthy as well as the sick. It includes people who are able to support themselves through productive work as well as people who are mentally impaired. It includes people who use the welfare system only for temporary relief as well as people who become perpetual wards of the state