Political Quotes

On the recordJanuary 25, 1996
I am introducing a bill this morning that I would invite all Members to cosign with me. It is a bill that says there shall be no increase in net marketable debt after December 31, 2001. Mr. Speaker, both sides of this issue on how we reach a balanced budget have agreed to have a balanced budget and not have an increase in debt. I think when you analyze the President's budget though, we need to remember two figures: $300 billion and $200 billion. The President's budget proposal for balance has $300 billion more spending than the Republican proposal. It has $200 billion more taxes than the Republican proposal. Mr. Speaker, if one wants to continue to tax and spend, then it is OK to go with the President's proposal. The Republicans cannot accept that if we give a hang about what happens to our kids and grandkids. Let us at least agree on the final line, the final resolution, to not increase net marketable debt after the year 2001.
Said by
Nick Smith
Republican · Michigan

Editor's note · Context

Introducing a bill to prevent an increase in net marketable debt after 2001.

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