On the recordJune 12, 1997
the year was 1974 and that year Patty Hearst was kidnapped. In the same year Hank Aaron hit his 715th homerun. Those two stories were major headlines, but not many people knew that it was the last time the Government will have spent less than 20 percent of the Nation's economic resources. With the new balanced budget, Mr. Speaker, it is going to happen again. Mr. Speaker, the balanced budget will have $350 billion in gross tax cuts over 10 years for families, for education costs, and for economic growth. Last, Mr. Speaker, the balanced budget agreement will finally do what its name says. It will balance the budget. It will be balanced by 2002, and then keeps it in surplus. In summary, the agreement means smaller government, lower spending, lower taxes, and a balanced budget, all in one agreement. It cannot be emphasized enough that this happens in one agreement.
Source
govinfo.gov




