Word: trillion
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...hairbreadth defeat of the balanced-budget amendment, a centerpiece of the "Contract with America." It was the first reality check for Republicans since they barreled into Washington in January. Certainly it will complicate the job of congressional G.O.P. leaders, who are still promising to make the $1.2 trillion in cuts necessary to balance the budget by the year 2002, the deadline in the amendment. The loss was also the first real sign that major provisions of a contract born in the House, where the budget amendment breezed through in two days, could meet death at an early...
...budget amendment offered the myth of a nearly automatic return to fiscal discipline. Without it, politicians will have to cut line by line. In the House, Republicans on the Appropriations committee last week sent to the floor a record $17.3 billion in cuts from this year's $1.5 trillion budget. It meant reductions in job training, housing, education and public broadcasting. Last week House Speaker Newt Gingrich sent Clinton a letter urging him to submit within a month a plan outlining the cuts he would make to balance the budget in seven years. That would have the President putting...
Senate Republicans, in a move that could seize the deficit-cutting initiative from more radical House members, unveiled proposals for nearly half a trillion dollars in painful spending cuts by the year 2000. A Senate G.O.P. task force, led by Sen. Judd Gregg of New Hampshire, seeks to force $475 billion in cuts from massive entitlement programs: $89 billion from projected welfare costs of $600 billion, and as much as $275 billion from Medicare and Medicaid, which are now projected to cost $1.82 trillion by the decade's end. Also included: a scheme to shrink cost-of-living increases...
What each person's share of the national debt is: I think it's about $14,000 per person. It's 4 trillion divided by 260 million, whatever that...
...hybrid -- will be the main electronic link to the home of the 21st century. But the more tantalizing question is just how the information titans will make their money. Spurred by forecasts that the worldwide market for everything from movies on demand to electronic shopping malls could reach $1 trillion within a decade, top corporate strategists are still debating whether they will profit most by distributing digital data, by owning it or by some combination...