On the recordFebruary 23, 1994
I think last year's budget deal, in which we did make a significant reduction in the deficit, has proven the theory; that is, we have seen now the lowest interest rates in 20 years, we have seen the strongest economic growth in 6 years, we have seen reduction in unemployment, we have seen record housing starts, we have seen record automobile sales. We have seen this, in part, because of what we did in getting an economic recovery underway. So I am personally persuaded that reducing deficits is in the economic interest of the country. I have concerns that I have outlined here today with respect to court involvement. I am very pleased to hear the Senator's reaction to that. I am concerned about the use of estimates. I am very concerned about that, because I have seen through the Gramm-Rudman process how that can be used to subvert what is an honest intention. There are two other areas that I would like to raise with the Senator from Illinois with respect to issues that concern me. One of those two is the matter of Social Security being included. It strikes me that Social Security, which is a separate trust fund, should not be used to balance other parts of the Federal budget.
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