"Budget Disaster Looming
Cato scholars offer budget cuts, as requested by Majority Leader DeLay
At a briefing on Tuesday, House Majority Leader Tom DeLay declared an 'ongoing victory' against bloated federal spending. Congress passed $62 billion of spending for Hurricane Katrina relief that will push the deficit back up to the $400 billion range. When asked whether Katrina relief should be offset with budget savings elsewhere, DeLay said 'bring me the offsets, I'll be glad to do it.'
Cato Institute scholars Steve Slivinski and Chris Edwards have the offsets that the majority leader is looking for. They have compiled $62 billion in spending cuts that would offset Katrina relief in the short-term and create savings to reduce the federal deficit over the long-term."
