Word: surpluses
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IMPACT: The smaller tax cuts are less likely to undermine the surplus. But their targeted nature means not everyone gets a cut and leaves doubts about the total price tag. For example, if enough people take advantage of the savings accounts, the 10-year cost rises $400 billion beyond what Gore has budgeted...
PLAN: Use the entire Social Security surplus and other revenues to pay down the $3.5 trillion national debt by 2012, then devote the savings in interest payments (more than $200 billion annually) to Social Security. Give workers matching funds to encourage them to build their own private savings accounts...
...says, not how he says it. He's running harder against Washington than anyone in years, but he's the first Republican in a decade who doesn't want to blow up the Education Department and padlock the I.R.S. He wants to spend a trillion dollars of the surplus to let people invest part of their Social Security taxes in the stock market, yet he promises not to cut benefits, although there would be no spare trillion lying around to fund them. He blasts Gore for proposing more new spending than at any time since the Great Society--except that...
...change is in order. In the past eight years the American people have built and fueled a miracle: the greatest economic engine in the history of the world. Income up, standard of living up, investment up. The deficit has become a surplus. We are fat and almost happy. Once Rabbit was rich; now Rabbit is rolling, with a Rolex, with a Beemer and a Benz...
...Colorado initiative seeks to increase per-student spending on education by the rate of inflation plus 1% for the next 10 years and at the rate of inflation thereafter. The state would also use at least $50 billion in surplus revenue for the next five years to fund new math and science programs at public schools...