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Publication Date: March 2004
Publisher: Center on Budget and Policy Priorities (Washington, D.C.)
Author(s): David Kamin; Isaac Shapiro
Research Area: Banking and finance
Keywords: Federal budget; Fiscal future; Economic projections
Type: Report
Abstract:
The Administration’s new budget has one main focus when it comes to reducing the deficit: domestic discretionary spending. This focus is disproportionate; the rise in domestic discretionary spending plays a bit part when it comes to telling the story of why the nation’s fiscal situation has worsened. Further, because such spending constitutes a minor part of the budget, even though the proposed cuts in this area will hit a range of programs sharply, the cuts will not dramatically improve the fiscal picture.