William C. Baker: “Opponents of the balanced budget, including the old Democrat, President Clinton, claim it is a gimmick, that Congress…”

“Opponents of the balanced budget, including the old Democrat, President Clinton, claim it is a gimmick, that Congress already has the power to balance the budget. However, Congress has demonstrated it is incapable of balancing a Federal budget. Bill Buckley, former editor of National Review, said what we need in Congress is ``Spenders Anonymous.'' Look at this chart, and parents at home, you may not want your children to see this. The budget was last balanced in 1969. Since then, we have had six Presidents, 25 years, and every year since then we have spent more money than we have brought in. Every year we have enlarged the Federal debt burden on our children and grandchildren. Mr. Chairman, debt levels have skyrocketed, thanks to our spendthrift Congress. David Gergen, editor-at-large at U.S. News and World Report, in 1992 wrote a letter saying, ``We can no longer flinch from reality. We can no longer afford the illusion that we can borrow our way to prosperity,'' in an article for U.S. News and World Report entitled ``Balance the Budget by Force.'' In 1993 Congress increased the national debt limit without my vote $225 billion, from $4.1 to $4.3 trillion. That means $17,000 for every man, woman, and child in this Nation. Interest on the debt equals 57 percent of all of your income tax paid this year.”