Frank Lautenberg: “from 1997 to 2000, I served as ranking member of the Senate Budget Committee alongside Chairman Domenici, and I am proud…”

“from 1997 to 2000, I served as ranking member of the Senate Budget Committee alongside Chairman Domenici, and I am proud to say that by the end of my tenure, the Federal Government had a budget surplus of $236.4 billion. Today we face a starkly different picture. Our country is more in debt than ever, owing an astounding $9.3 trillion. Under President Bush's watch, the national debt will have almost doubled, and he has sacrificed the stability of our economy in the process. He has effectively taken our Nation from one of economic stability and prosperity to a nation on the brink of recession, and our children and grandchildren will be stuck with the bill for generations to come. Each year, the President has a chance to do the right thing and propose to Congress a responsible budget which addresses the needs of our country and is fair to all Americans. I have been extremely disappointed these last 8 years as President Bush has continually presented us with budget proposals that have resulted in four of the five highest deficits in our country's history, leaving us with a staggering budget deficit of hundreds of billions of dollars. At the same time, his proposals have rewarded the wealthiest members of our society at the expense of the middle class and Americans struggling to earn a living. I am proud to have helped ensure that Congress rejected these Bush proposals. Once again this year, we find ourselves in the same process.”