Nick Smith said "I think it would be good for all of us to review exactly where we have been in debt extensions: Since 1980, H.R. 7428, a debt extension with increases in the import fee. In 1985, H.R. 3721, a debt ceiling increase with an increase in the cigarette tax and expanded benefits for unemployed. In House Resolution 372, debt extension with a Gramm-Rudman attached. In 1986, debt extension with budget reconciliation, with a large increase in social spending. In 1987, a long-term debt limit extension with liberal modifications to Gramm-Rudman. It goes on and on. We have tied everything in the past to debt ceilings that we wanted to get a President that did not pay attention. This is going to continue." @ PoliticalQuotes.com

On the recordJanuary 25, 1996

I think it would be good for all of us to review exactly where we have been in debt extensions: Since 1980, H.R. 7428, a debt extension with increases in the import fee. In 1985, H.R. 3721, a debt ceiling increase with an increase in the cigarette tax and expanded benefits for unemployed. In House Resolution 372, debt extension with a Gramm-Rudman attached. In 1986, debt extension with budget reconciliation, with a large increase in social spending. In 1987, a long-term debt limit extension with liberal modifications to Gramm-Rudman. It goes on and on. We have tied everything in the past to debt ceilings that we wanted to get a President that did not pay attention. This is going to continue.

Said by

Nick Smith

Republican · Michigan

Source

govinfo.gov

Editor's note · Context

Discussing the history of debt extensions and their implications.

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