President Clinton's budget for fiscal 1997 doesn't balance--it's $81 billion in the hole in the year 2002. But he said--it's part of his budget--that if it looks as if things aren't going to balance, he'll cancel his tax cuts as of midnight, December 31, 2000, and reduce spending. The view of the Congressional Budget Office is that he'd have to do both to make his budget balance in 2002. His staff claims he wouldn't cancel his tax cuts--so he'd have to cut spending instead. The comparisons here are for his "balanced" budget.
Dole's tax cuts are about 4 percent of the total revenues the government will collect over the next six years. Clinton's tax cuts are less than 1 percent. Taxes under both plans increase by the year 2002--23 percent for Dole, 31 percent for Clinton.
Under the Dole plan federal outlays increase 14 percent by 2002. Under the Clinton plan they increase 20 percent. Another way to look at it: Dole's outlays increase 2 percent a year, Clinton's 3 percent a year.
Both Dole's and Clinton's budgets project balance in 2002 (provided Clinton cancels his tax cuts and reduces spending). But Clinton's plan adds $51 billion more to the national debt than Dole's.
Medicare
Both the Clinton and Dole budgets project slower growth in Medicare-- Dole at 6 percent a year, Clinton at 7 percent. Over six years, that amounts to only a 2 percent difference in total outlays. Under the Dole plan spending per beneficiary increases from $5,200 to $7,000.
Social Security
Dole and Clinton have no differences on Social Security; neither has proposed any changes from current law.
National Defense; Net Interest
Not much difference between Dole and Clinton on either of these. But Dole has pledged not to cut defense further.
Clinton: higher taxes, higher spending than Dole. Clinton proposes to
collect $316 billion more in taxes than Dole would, and he proposes to
spend $367 billion more.