NAN A. S. HAYWORTH: “Indeed, and I think it is very important, Mr. Speaker as we are here, to thank the gentleman from New Jersey for giving…”

“Indeed, and I think it is very important, Mr. Speaker as we are here, to thank the gentleman from New Jersey for giving us a tangible answer of why balancing the budget is so vitally important. This is not some sort of esoteric economic goal for its own sake. It is not the notion of in the realm of cosmic reality trying to put our house in order because of a love of symmetry. The fact is, it can help families save more, invest more, plan for their own futures, and that is why it is vital. Every family in this Nation has an economic stake in seeing a balanced budget, not because of some far-flung concept, but because of the glaring realities of the challenges of life that they will confront as we prepare to move into the next century. While there are some cynics who would say of economists, you could lay all economists end to end and still never reach a conclusion, we are compelled to take a look at the testimony of Dr. Greenspan when he testified in the 104th Congress in front of the Committee on the Budget and when he said he was absolutely convinced that a balanced budget would lead to a genuine reduction of up to 2 full percentage points in the prime interest rates.”