Time's Proposal Yes, It Can Be Done

If Congress does nothing further to curb Government outlays or boost taxes, the federal deficit will remain huge: a projected $128 billion in 1992. To close that gap, TIME proposes spending cuts over the next four years that would save $49 billion in 1992, along with tax and other revenue increases that would raise $79 billion.


TOTAL REVENUE $1,260 billion, up $79 billion (The first number listed is the amount, in billions, of proposed revenue from various sources in 1992. The second number tells how much a reduction or addition the proposal represents, in comparison with what revenue would be...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!