Sen. Paul Simon

The answer is on the basis of what I know I do not believe I have the votes to pass this. I do not believe Senator Byrd has the votes to stop it. I think Senators like my colleague from North Dakota hold the balance on this.

I am not saying we are automatically going to be opposed to any amendment, but when you talk about the Constitution of the United States we have to be extremely careful. I can say, on the matter of estimates, there is no way to my…

What a great lift this would be for housing, construction, industrial investment--everything.

Let me tell you the rationale. First, originally, when I drafted my first balanced budget amendment, I included that, interestingly. The reality is that we do have a surplus at this point right now in Social Security. I would like to…

Yes, I will oppose the amendment. I have great respect for Senator Dorgan who, on a number of things, has shown real insight, including standing up on the issue of intangible assets, which is one of those issues someday somebody is going…

If I may respond, first, this changes the dimensions of what you do in the Budget Committee. We are not dealing simply with a statute. The Senator and I took an oath when we stood up there to protect the Constitution. This is now part of…

And I will get into the court matter on my time. But the reality is you have to have some form of estimates. And the way that becomes tough--in fact, according to the Senator from West Virginia, too tough--is it takes a three-fifths…

I commend my colleague from Alaska--and particularly since he is a former banker-- for his comments about interest. We are really at a fork in the road where we are going to determine whether we are going to have higher interest rates in…

The figure that the Senator is using is a figure that Senator Fritz Hollings points out we should not use, and that is net interest. There is no area of Government where we subtract the earnings before we calculate the interest. So that…

I respect my colleague but, again, no matter if he votes wrong on this issue from my perspective, he has contributed immensely to this Nation by providing the leadership that got us to the reconciliation last August. That grandchild that…

I have a letter from Charles Bowsher, the Comptroller General of the United States, dated February 18, in which, among other things, he says the deficit problem, of course, has not gone away, the forces for escalation of the deficit are…

Let me just add, in terms of amending the Constitution and on financial things, Thomas Jefferson, of course, favored an absolute prohibition against Federal borrowing, and Alexander Hamilton later-- Thomas Jefferson and Alexander Hamilton…

What happens before that, according to history--and maybe we can be the first country since ancient Florence and all the others not to do this--what happens is then you start monetizing the debt. You start printing the money. I think, as…

But down to the bottom. It says future generations--way down at the bottom there, next-to-the-last line. You go over with reconciliation and with health care reform and with all the optimistic assumptions, 10 years solid growth, no dip…

Look down to 1930--I was born in 1928. You will see I will spend about an average of 30 percent. The Senator from New York, born roughly the same time, maybe a little before me, roughly the same.

That is correct. That is adjusted down somewhat. But GAO tells me the same basic trends are there. And no nation has come anywhere close to that without, as the Senator points out, monetizing the debt.

But GAO predicted in June of 1992 that by the year 2020 we would have in excess of 20 percent deficit relative to GDP.

But it is going back up, according to OMB. You have 1996. But if you take a look, it goes back up to 3.3 percent in the year 2004, and up from there, according to GAO.

That is a great tribute to Senator Patrick Moynihan in addition to being a great tribute to Bill Clinton. They made some tough decisions. I remember the Senator coming into the Democratic caucus and saying, ``We did this because we had…

I want to pay tribute to Senator Thurmond, who has been a pioneer in fighting for this. I believe Senator Thurmond told me he has been fighting for this for 35 years, but it has been a long time. I am proud to be associated with him in…

I would like to commend Mr. Valenti for one of his best speeches yet on this subject. He has shown true leadership in his industry with his call for shared responsibility between families, the Government, and the entertainment industry in…

One of the things I think that will come out of this is this is going to be a civil debate. We are going to look at some very, very basic questions in this country. I think we have the chance to really make a change for the positive for…

To extinguish a Debt which exists and to avoid contracting more are ideas almost always favored by public feeling and opinion; but to pay Taxes for the one or the other purpose, which are the only means of avoiding the evil, is always more…

I believe that this controversy reflects honest debate about the nature of the job of our bilateral ambassadors. It is true that Larry Lawrence is not an expert on European affairs, and is not fluent in either of Switzerland's two major…

I have been around this body, the Senate, and the House long enough to see frequently when Members announce their retirement, then you hardly ever see them participating in anything. It says something about the personal character of David…