61. The state had legitimate reasons for forgoing the spending cap, he added, though he noted that he was concerned about the growth of spending. 62. The two parties have shattered the spending caps each of the last two years in all but the most technical sense. 63. The two candidates have sparred over the spending cap issue almost since the first days of the campaign last fall. 64. Then, through a series of draconian spending caps negotiated with the Republican-led Congress, Clinton succeeded in balancing the budget. 65. They are not subject to the spending cap because they are not tax revenue. 66. Those rules impose tight spending caps and require that any tax cuts or credits be offset by corresponding tax increases. 67. Thus, Forbes can evade the spending caps and spend more money than any other primary candidate. 68. Those spending caps helped balance the budget, but they are now squeezing too tight, members say. 69. To the degree that those programs continue to be financed next year, they would come at least partly under the spending caps, reducing money available elsewhere. 70. Together they created spending caps to restrict the budget. |