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THE PRESIDENT'S ECONOMIC PLAN:
REFORMING ENTITLEMENT SPENDING
The President is proposing a series of reforms in entitlements and
other mandatory programs that will raise tens of billions of dollars
by targeting benefits to those who need them and ensuring that
taxpayers get a fair return on public resources. Republicans would
cut too deeply into entitlements and threaten services and benefits on
which millions of Americans rely.
The President proposes to protect pensions for poor veterans and
compensation for service-connected disabled veterans.
Republicans would restrict or eliminate compensation benefits
for certain veterans, and redefine and narrow eligibility for
The President proposes to save $4.2 billion over 7 years by
allowing farmers to use more acreage to plant what the market demands,
reducing inequitable treatment of farmers by crop and region, and
targeting payments to smaller farmers.
Republicans would cut farm program spending 3-4 times as much
-- the House by $17 billion over 7 years, the Senate by $12
billion over 7 years -- without specifying how.
The President proposes to raise $14.3 billion from 1996-2002 by
expanding the Federal Communications Commission's spectrum auctions to
a variety of new wireless services.
The House and Senate also would expand the Government's auction