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In 1991, General Colin Powell was quoted, "We no longer have the luxury of having a threat to plan for." Below are the military budgets of all the countries the Pentagon defines as potential adversaries, as listed in the report World Military Expenditures and Arms Transfers, US Arms Control and Disarmament Agency, 1995:
| Iraq | 3 billion | Syria | 3 billion |
| Libya | 1 billion | Cuba | 0.3 billion |
| North Korea | 6 billion | Iran | 2 billion |
Multipled by 17, this comes to $265.2 billion, still less than the United States military budget.
Cutting the $265.6 billion figure in half would free $132.8 Billion. Of that figure, $80 billion could be used to cut the deficit in half. According to the House Budget Committee, April 1996, the deficit for 1996 was $160 billion. This would leave $52.8 billion. After doubling the $26.7 billion budget for Housing Assistance in 1995 cited by the Statistical Abstract of the U.S, we would have $26.1 billion left. This would more than double federal spending on student aid. 1994-5 student aid spending included approximately $8 billion in grants and work-study, according to the Chronicle of Higher Education, September 2, 1996. We estimate the amount of federal money spent on subsidizing student loan programs to be $5-$10 billion per year, out of an annual loan volume of approximately $25 billion.
From the Statistical Abstract of the US, 1995, Table 285:
From the Statistical Abstract of the US, 1995:
Chronicle of Higher Education, September 2, 1996, p. 14
1980 Pell Grants: $2.39 billion, 2.7 million recipients.
1980 Work Study: $0.66 billion, 819 thousand recipients.
1980 totals: Funding of $3.047 billion, 3.07 million recipients.
1993 Pell Grants: $5.68 billion, 3.54 million recipients.
1993 Work Study: $0.81 billion, 908 thousand recipients.
1993 totals: Funding of $6.49 billion, 3.95 million recipients.
1995 Pell Grants: $5.65 billion, 3.7 million recipients.
1995 Work Study: $0.76 billion, 713 thousand recipients.
1995 totals: Funding of $6.41 billion, 4.13 million recipients.
Petition for New Priorities | 24 Lie$ Flyer Series |
