Ed Markey: “the problem that I have with this budget is its total lack of optimism. The deficit has been reduced from $300 billion…”

“the problem that I have with this budget is its total lack of optimism. The deficit has been reduced from $300 billion down to $60 billion over the last 4 years, and it is going to continue to be reduced whether we do anything on the floor tonight or not. In fact, today Alan Greenspan in his decision not to increase interest rates has reflected the reality that our economy is growing at an over 4-percent rate of growth with negligible inflation. There is a very high probability, in other words, my colleagues, that the budget is already balanced this year, 1997, not the year 2002; that the final $60 billion, in other words, is going to be found this year before the end of the fiscal year. So I just wish that we all reflected that more optimistic view of America. The American people have done it. They are working hard. They are producing the revenues. We should not be engaging in this root canal politics of cutting valuable programs so that we can hand over tax breaks to those who do not need them, thereby spurring interest rate increases which are sure to follow by the Fed.”