New Priorities Under Expenditure Limits
The panelists discussed how the federal budget is restricted by limited resources and the pressures of a global economy. The panelists… read more
The panelists discussed how the federal budget is restricted by limited resources and the pressures of a global economy. The panelists focused on the question: “If the 1990 budget’s negotiated expenditure limits stick, how can future needs, which require expenditures, be meet?” The priority guidelines for which programs can be revised or eliminated were explained. The two specific types of budget enforcement procedures are caps on discretionary spending for foreign aid, defense, and domestic discretionary programs, and pay-as-you-go requirements for tax cuts and entitlement increases. Rep. Panetta said that meeting new budget priorities will be a matter of discipline in managing the United State’s resources. close
*The transcript for this program was compiled from uncorrected Closed Captioning.
People in this video
- Carol Cox Watt President Committee for a Responsible Federal Budget
- Pete V. Domenici U.S. Senator [R] New Mexico
- Paul Duke Correspondent PBS
- William Eldridge Frenzel U.S. Representative (Former) [R] Minnesota
- Robert N. Giaimo Co-Chairman Committee for a Responsible Federal Budget
- Chuck Grassley U.S. Senator [R] Iowa
- Lawrence Haas Correspondent National Journal
- Leon E. Panetta U.S. Representative [D] California
- John Jacob Rhodes III Co-Chairman Committee for a Responsible Federal Budget
- Charles Schultze Director Brookings Institution->Economic Studies
- Peter Walsh Minister (Former) Australia->Finance
- David M. Wessel Correspondent Wall Street Journal
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