Neil Abercrombie: “I was privileged to be on the floor of the House of Representatives when the President's budget passed in 1993, that…”

“I was privileged to be on the floor of the House of Representatives when the President's budget passed in 1993, that budget at the time denounced so severely by many critics of the President and what he was trying to accomplish. I think, some 5 years later, we found that all of the goals have been in fact accomplished with respect to balancing the budget; and, most particularly, we find ourselves in a situation with low interest rates and the ability of people to take advantage of the home interest deduction they might not otherwise have had. As a result, Mr. Speaker, I hope there is a recognition that this was the right course to take, that the American people have been the beneficiaries, that home ownership has been advanced, and that these 5 years provide a record of accomplishment of which we can all be proud. ... It is vitally important that we preserve the mortgage interest deduction. It is fundamental of fulfilling the American dream of home ownership.”