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...federal deficits by wrenching an unprecedented $1.4 trillion in savings from budgets over the next seven years.Medicare and Medicaid would take the biggest hitsand hundreds of other federal programs would vanish. But majority House members -- unlike senators, who today began debating their $961 billion measure -- would try toease the painwith $350 billion in tax breaks for families, corporations and investors. Said the plan's chief architect,House Budget Committee Chairman John Kasich(R-Ohio): "The 21st century is about the power of the individual, not the power of bureaucracy or the power of red tape...

Author: /time Magazine | Title: HOUSE EMBRACES KASICH BUDGET | 5/18/1995 | See Source »

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