Cliff Stearns: “I have a simple question for my colleagues this morning: How can the budget be in surplus if the debt went up last year…”

“I have a simple question for my colleagues this morning: How can the budget be in surplus if the debt went up last year by $109 billion? Indeed, how can the budget be in surplus if the debt is projected to go up another $101 billion this year, and another $90 billion the year after that? Did anyone question these numbers, numbers which were released on January 29 by the Congressional Budget Office? Mr. Speaker, is there a single Member in this body who can deny that the national debt will continue to rise until the year 2005? It is interesting that we have become too careless with our language, or perhaps crafty, that the next few years of budget surplus will result in billions and billions of dollars more in debt over the next 6 years. The reason for this situation, of course, is the social security trust fund. The temporary surpluses in the social security trust fund are masking the true size of the deficit. That is why I am introducing 'The Honest Balanced Budget Act of 1999.' The intent of this legislation is simple: to guarantee honesty in budgeting.”