we learned a painful lesson in the not so distant past; that when the big spenders in Washington get their way, the taxpayers get the shaft. When the budget is drained to fund all sorts of pork barrel projects and special interest boondoggles, there is nothing left for those who pay the freight: Working American families. Not only do our working folks fail to get a long overdue and well-deserved tax break, we now learn that the Federal Reserve Board is watching Congress very closely to see if it intends to engage in more reckless spending. If it does, the Fed is apparently ready to raise interest rates to head off any inflation that excessive government spending may bring about. So who is the big loser? Again, my colleagues may have guessed it, the American taxpayer. Not only is the taxpayer denied a tax reduction, because there is no money left in the bank, but he or she will also pay higher interest rates on mortgages, on car payments, on education loans, on credits cards, et cetera. Mr. Speaker, this year let us tell the President and his free-spending friends in this body that enough is enough. We are not going to let them pick the taxpayers' pockets any more.
Editor's note · Context
Addressing government spending and its impact on taxpayers.
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I have no further speakers and would be willing to close at this time unless the gentleman has additional speakers. I reserve the balance of my time.





