Karen Bass: “the Committee on the Budget yesterday heard from Federal Reserve Board Chairman Alan Greenspan, and when he was asked by…”

“the Committee on the Budget yesterday heard from Federal Reserve Board Chairman Alan Greenspan, and when he was asked by the chairman of the Committee on the Budget why it is important that we balance the budget, he said, and I quote ``I would say * * * in the short run * * * that there would be some strain leading to a period in which I think their,'' meaning the people of this country, ``real incomes and purchasing power would significantly improve, and I think the concern, which I find very distressing, that most Americans believe that their children will live at a standard of living less than they currently enjoy, that that probability would be eliminated and that they would look forward to their children doing better than they.'' Mr. Speaker, we have heard a lot of talk this morning about children and the welfare of children. If we really care about the future of the children in this country, in whose millions of little hands the future of this country will lie, then we will move as a body to balance our budget, and balance it by the year 2002. This is spoken by the Chairman of the Federal Reserve Board. If there was ever a need to move forward, the time is now.”