Accession Number:

ADA533683

Title:

The Budget of the United States Government. Department of Defense Budget for Fiscal Years 1992 and 1993

Descriptive Note:

Corporate Author:

OFFICE OF THE SECRETARY OF DEFENSE WASHINGTON DC

Personal Author(s):

Report Date:

1991-02-04

Pagination or Media Count:

419.0

Abstract:

The budget is consistent with the 5-year deficit reduction law enacted last fall. It recommends discretionary spending levels that fall within the statutory caps for defense, international, and domestic discretionary programs. It implements the entitlement savings and reforms enacted in the Budget Agreement. It conforms to the new pay-as-you-go requirements. By holding the overall rate of growth of Federal Government spending to approx. 2.6 percent--below the inflation rate--the budget puts into effect the concept of a flexible freeze, which is an essential means of bringing the budget into long-term balance. The longest period of peacetime economic expansion in history has been temporarily interrupted. We can, however, return to growth soon--and proceed on the path to a new era of expansion. With that goal in mind, the budget places special priority on policies that will enhance Americas potential for long-term economic growth, and that will give individuals the power to take advantage of the opportunity America uniquely offers. To this end, I am again proposing tax incentives to increase savings and long-term investment. On the spending side of the budget, the existence of a cap on domestic discretionary outlays rightly creates a competition for resources. Priorities must be set.

Subject Categories:

  • Economics and Cost Analysis
  • Government and Political Science

Distribution Statement:

APPROVED FOR PUBLIC RELEASE