Saturday, December 03, 2005

Hurricane Katrina: how to pay for it

Veronique de Rugy and Roger Bate propose a way of paying for hurricane relief efforts by trimming from the budget elsewhere.

American taxpayers want spending to go down and will support the administration in its effort. Polls show that 71 percent of Americans are more bothered by how their taxes are spent than by the amount of taxes they pay and that the average American feels that nearly half of his or her tax dollars are wasted.

Second, there is a lot of fat in the budget. During the last five years, total federal spending increased by 40.3 percent from $1.86 trillion in FY2001 to $2.6 trillion in FY2006. Contrary to general beliefs, most of the new spending is unrelated to 9/11 or Iraq. In fact, defense spending accounts for less than one-third of the $610 billion increase in discretionary spending since 2001.

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