Word: seven-year
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...with the federal government on a seven-year course to balance the budget, universities across the nation are fearing massive cuts in basic research funding by the government...
This week, as Congress returns from its Independence Week break, many of the populists who talked about making history are making back-room deals. The admirable seven-year budget-balancing plan that Congress passed last month must be implemented line by line -- a process that has moved behind closed doors, into the hands of veteran horse traders who run the tax and appropriations committees. There lawmakers labor not only to meet their savings targets but also to spare hundreds of special interests from the sacrifice that Congress agreed should be shared by all Americans...
...party-line votes, both the House and Senate adopted the Republican seven-year balanced-budget plan that would slash spending by nearly $1 trillion and taxes by $245 billion. President Clinton warned that he would wield his veto power in the months ahead to refashion the spending and tax bills that will be required to implement the plan, which only sets budgetary outlines. In other budget matters, a $16.4 billion package of cuts in the current year's budget-originally vetoed by the President but since modified by Republicans to obtain his support-was stalled just before the July...
House and Senate conferees split the differences separating the two chambers and announced they had reached a compromise for a seven-year balanced-budget plan. They agreed to recommend that both Houses adopt nearly $1 trillion in spending cuts, approve $245 billion worth of tax reductions and abolish the Commerce Department...
...ones, like entitlements. No one is more worried by the direction in which things are headed than Budget Committee chairman John Kasich, who said that while the appropriators are meeting their spending targets for this year, their reluctance to uproot entire programs now will make it more difficult to reach the more ambitious goals that have been outlined for the later years of the seven-year drive to balance the budget. For his part, Appropriations Committee chairman Bob Livingston is plunging ahead with fierce independence, expressing little interest in Kasich's opinion. "He can run his business," Livingston said...