Political Quotes

“very shortly, the House of Representatives will vote on a constitutional amendment to require a balanced Federal budget. I have long supported a balanced budget amendment, and have introduced and supported such legislation every year since I first was elected to Congress over 10 years ago. We have made great strides in reducing our Federal budget deficits in recent months. The fiscal year 1995 deficit is expected to be 40 percent lower than earlier predictions. And we are now on track to have 3 years of falling deficits in a row--the first time that has happened since World War II. However, if we want to assure our children and grandchildren a brighter economic future, we cannot stop in our efforts to address our Nation's debt. That is why I strongly support a balanced budget amendment. While a constitutional amendment requiring a balanced budget will not eliminate all wasteful Government spending, it will be a significant step toward controlling it. Some of my constituents have expressed concern about the effect of a balanced budget amendment on the Social Security program. The largest threat to the financial integrity of the Social Security program is our ballooning deficits. Interest on the national debt currently consumes nearly $200 billion each year, making it the third largest program in the budget. Interest payments will soon rival all military spending.”