Nick Smith said "I think it would be good for history's sake to look at the last time that we dramatically increased taxes. We did that; when President Clinton came into office, we had the largest tax increase in history, and what was the effect of that on spending? During those years of the Clinton administration, we increased spending by 33 percent. During those periods, we increased the debt limit three times. So we have dramatically demonstrated that if we have more money, we are going to have more spending. I would suggest that there has to be some limit, and the overall bill gives us some intestinal fortitude, gives us some guts to resist the temptation to promise more and spend more has to be incorporated. Mr. Speaker, I hope we can have the kind of votes and support to give us that discipline in this kind of budget reorganization." @ PoliticalQuotes.com

On the recordJune 24, 2004

I think it would be good for history's sake to look at the last time that we dramatically increased taxes. We did that; when President Clinton came into office, we had the largest tax increase in history, and what was the effect of that on spending? During those years of the Clinton administration, we increased spending by 33 percent. During those periods, we increased the debt limit three times. So we have dramatically demonstrated that if we have more money, we are going to have more spending. I would suggest that there has to be some limit, and the overall bill gives us some intestinal fortitude, gives us some guts to resist the temptation to promise more and spend more has to be incorporated. Mr. Speaker, I hope we can have the kind of votes and support to give us that discipline in this kind of budget reorganization.

Said by

Nick Smith

Republican · Michigan

Source

govinfo.gov

Editor's note · Context

Discussing the impact of tax increases and government spending during the Clinton administration.

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