On the recordSeptember 7, 1995
Mr. Speaker, today the House is taking action to provide the President an important tool necessary to reduce Government spending. As we move to go to conference on the line-item veto, we take a major step toward eliminating wasteful projects which are often buried in public laws without the benefit of public scrutiny. The House, on the other hand, produced a strong, workable bill which preserves the balance of power between the legislative and executive branches while providing the President with more flexibility by allowing a reduction of spending items. I am confident that in working together with the Senate we can come up with a fine compromise. By the end of this fiscal year, the Federal debt is estimated to be more than $4.9 trillion. In fact, appropriately on Friday, October 13, of this year, the Federal debt will reach the incredible level of $5 trillion.
Source
govinfo.gov
