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CD23F358-7B06-4898-914E-3CADD55B15A5.jpeg - $ 150 billion...

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Unformatted text preview: $ 150 billion over a period of 5 years - Effect of the ERIA : by 1986 , the annual revenue of the federal government had been cut by $ 200 billion . 18. attempts to balance the lodget ( social programs ) - David Stockman, Reagan's budget director, proposed cuts to Social Security and Medicare, but congress and President Reagan did not want to antagonize middle -class and elderly voters - Instead Stockman advocated to cut the Spending on programs for food stamps, unemployment compensation, and welfare assistance suchas Aid to Families with Dependent Children ( AFDC ). These programs were looked down upon by the administration because they were viewed as handouts, at the expense of hardworking taxpayers Congress approved of some cutbacks but preserved most of these welfare programs because many Americans relied on them - yet " welfare for the rich " - huge subsidies and tariff protection for wealthy farmers and lasiness corporations - continued to be provided - Luts on spending failed to reach its goal and the federal budget deficit increased dramatically 19. military spending / Strategic Defense Initiative ( SDI) - military spending accounted for nearly 14 of all federal expenditures and the bulk of - the growing federal defecit -...
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  • Fall '15
  • Mrs. Lindsey
  • President of the United States, United States Congress, Federal government of the United States, David Stockman

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