On the recordJanuary 25, 1995
Congress has failed to control the deficit despite legislative attempts to cut Federal spending. At the end of 1994, Mr. Chairman, the deficit was projected to be $223 billion, and the public debt, the national debt that is passed on to our kids and grandkids, all future Federal taxpayers, which is the accumulation of each year's deficit, will reach $4.7 trillion. Left unchallenged the deficit will grow and continue to reach crisis proportions early in the next century. The choices are hard, but necessary, and that is why we must enact a balanced budget amendment to impose a very real fiscal restraint in this body.
Source
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