Based on findings of the most current and highly regarded evaluations and research reviews available, this committee print provides an update of a prior committee report (August, 1985) on eight cost-effective federal programs for children. Described in terms of program participation, characteristics, benefits for children, cost effectiveness, and empirical findings are: (1) the Special Supplemental Food Program for Women, Infants, and Children; (2) prenatal care; (3) Medicaid; (4) childhood immunization; (5) preschool education; (6) compensatory education; (7) education for all handicapped children; and (8) youth employment and training. Charts of program participation provide data for comparisons during a 4- or 5-year period. An annotation is provided for each cited study. Introductory material highlights program effects in terms of benefits for children, cost benefits, and program participation. (RH)