A No Pork Diet For Washington
The budget deficit is shrinking: The Clinton Administration, using figures from the Office of Management & Budget, predicts the shortfall for fiscal 1996 will come in at $117 billion, or $29 billion below forecast. But the good news disguises a disappointing trend. It's turning out to be far harder than expected to cut "corporate welfare"--expensive subsidies and tax breaks such as gasohol supports and the Agriculture Dept.'s underwriting of overseas advertisements for agribusiness giants. According to a new study from the Cato Institute, Congress and the President managed to cut less than $3 billion, or 14%, of the $19.5 billion annual cost of the 35 largest corporate-subsidy programs.
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