For Immediate Release Contact: Jim Campi or Aaron Taylor
February 1, 1999 (202) 467-5300

WASHINGTONThe Clinton Administration will unveil its fiscal year 2000 budget today.  Following are the remarks of Thomas A. Schatz, President of Citizens Against Government Waste, reacting to the President’s proposed $1.7 trillion budget.

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“It’s strangely appropriate that President Clinton has chosen February 1st, the day before Groundhog Day, to release his proposed budget for the next fiscal year.  According to tradition, if a groundhog comes out of its hole and sees its shadow, there is still a long winter ahead.  Similarly, when Americans look out at the fiscal landscape and see the President’s budget, they see a long shadow of continuing overspending and debt. America is still trapped in a $5.5 trillion hole of debt, masked only by accounting tricks and the so-called Social Security trust fund.”

“The President is hogging the federal budget with his pet projects:  $500 billion on universal savings accounts for retirement; $700 billion on Medicare; and $2.8 trillion on Social Security, including $700 billion he proposes the government invest in the stock market.  The proposed budget would fund 100,000 new teachers; at least 30,000 more police; Americorps; and a Patient’s Bill of Rights.  His $6.8 trillion “surplus” counts $2.3 trillion twice in a bizarre attempt to save Social Security by using that program’s own money.  It is up to Congress to shove President Clinton’s budget into a deep, dark hole and ensure that the fierce winter of debt ends in a quick thaw.”


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