Victor Fazio: “the House will vote today to continue the unprecedented and successful economic growth and deficit reduction initiatives…”

“the House will vote today to continue the unprecedented and successful economic growth and deficit reduction initiatives that the Congress and President Clinton began last year. We enter into this debate with an economy that is improving in all sectors. Because of the aggressive and realistic deficit reduction package enacted last year by this Democratic Congress and the Democratic administration, nationwide unemployment is now down to 6.5 percent, job creation is up by 1.9 million private sector jobs, inflation is in check, and the economic outlook is the best we have witnessed in decades. We achieved these goals through a combination of steady deficit reduction and targeted investments. The budget resolution continues these efforts by bringing down the 1995 deficit to $175.3 billion, the lowest level in 5 year, and more than $100 billion below the projections made last year. At the same time, the budget provides for increased investment into critical areas such as education and training, research and development, the transportation infrastructure, and crime control initiatives. Mr. Chairman, I want to continue these positive trends.”