A Soviet Budget Plan For The Fiscal Year Essay

817 Words Mar 4th, 2016 4 Pages
1988, with the deficit increasing by 220%. A Soviet budget plan approved in 1988, if applied, would send the deficit to 125 billion rubles ($75 billion), a 400% increase in debt and 13% of Soviet gross national product (GNP). In comparison, the highest American budget deficit fell at 3.5% of the United States’ GNP. The American budget gradually increased and represented a heavier percentage of the American budget during the 1983 and 1985 fiscal years. 25% of the 1983 budget consisted of defense, the Department of Defense spent $383,551,051,051, 24% of the overall budget and more than any other US program. Defense also accounted for 59% of optional, or discretionary spending for the 1983 fiscal year. By passing a bigger budget for the 1985 fiscal year, the United States Congress allotted 26% of the new budget to the Department of Defense. Once again, defense spent the most, making up $430,091,244,077, or 24% of the budget and held 61% of discretionary spending. The defense budget contained many projects and areas of research. After expanding the defense budget, President Ronald Reagan declared budget allocation for new fields of study such as space and land-based antiballistic missile systems. Reagan used a portion of the budget to fund his Strategic Defense Initiative (SDI), asking Congress to set SDI’s budget at $5.4 billion in 1987, almost double his the next most expensive technology, $2.8 billion for the purchase of F/A 18 jets. Initial SDI funding started at $1.4…

Related Documents