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A Decade of Budget Summitry

By: Paul G. Merski

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Executive Summary The FY1991 budget summit will be the fifth time in nine years the White House and Congress have conducted special negotiations to try to reduce the federal deficit. Unfortunately, despite these negotiations, the budget deficit has averaged well over $160 billion each year during this same period. In the first six months of the current fiscal year the deficit already exceeded $150 billion. In light of these results, summits allegedly convened to lower deficits may have done more harm than good.