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<br />. -10- <br /> <br />IF THE HALF-BILLION DOLLARS HAS NOT SPENT ON j'1ONTANA'S <br />WATER PROJECT AND THE COl'lGRESS THEREFORE REDUCED THE BUDGET <br />CEILING, THE MONEY WOULD REMAIN IN THE TAXPAYERS' POCKETS. <br /> <br />NOW, LET'S GO BACK AND ASSUf'iE THAT THE HALF-BILLIOi'J <br />DOLLARS IS PLACED IN SONE OTHER FEDERAL PROGRAf-1. Af'lONG THE <br />FEDERAL PROGRAf'lS, THE LARGEST SINGLE SLUG I S CALLED "GRANT- <br />IN-AID". THAT IS, THE FEDERAL GOVERNf.1ENT AIDS LESSER GOVERN~lENTS <br />BY GRANTING THEM MONEY FOR SPECIFIC PURPOSES. IN FISCAL 1973 THE <br />COST OF THE GRAiH-IN-AID PROGRAf"]S WILL TOTAL ABOUT $42 BILLIOIJ <br />DOLLARS, DO YOC .KNO\~ ANY GRANT - IN-AID PROGRAf:1 WHEREHI EACH <br />PROJECT IS WORKED OUT IN DETAIL LOCALLY, APPROVED BY THE <br />GOVERNOR AND BY A WHOLE GROUP OF COORDINATING FEDERAL AGENCIES, <br />JUSTIFIED AS A PROJECT TO THE CONGRESS, AUTHORIZED, SIGNED INTO <br />LAW BY THE PRESIDEi~T, AND THEN RE-JUSTIFIED BEFORE APPROPRIATIONS <br />CQf'lr'lITTEES -- AS \~ITH WATER RESOURCE PROJECTS? OR DO YOU KiJOH <br />GF ANY GRANT-IN-AID PROPOSALS WHICH ARE KNOCKED OUT BECAUSE <br />ANALYSIS DOES NOT SHOW THAT THEY WILL YIELD THE OPPORTUNITY <br />COST OF f10NEY? <br /> <br />PERHAPS FRED SIMONTON BROUGHT THE WHOLE ISSUE INTO <br />BETTER PERSPECTIVE AND MORE UNDERSTANDABLE TO THE LAYMAN THAN <br />SOME OF THE REST OF US HAVE llOr~E HJ HIS PRESENTATION TO THE <br />