On the recordMarch 17, 1994
I rise in opposition to the Wise substitute to House Joint Resolution 103 and in support of the Stenholm alternative. Our Nation's debt currently exceeds $4.3 trillion--that is your debt and my debt. Every man, woman, and child in the United States currently owes $17,495 toward that debt. To my district and the citizens of Oklahoma, that is a lot of money that could go toward buying a home or a child's college education. The Wise substitute is not a true balance budget amendment. It contains loopholes and it does not include any enforcement mechanisms. Unfortunately, without enforcement, Congress will not be able to control its spending. If you do not believe that, consider this: It took our Nation 205 years--from 1776 to 1981--to reach a $1 trillion debt. Now, just 13 years later, the debt is over $4.3 trillion. Congress has not passed a balanced budget since 1969. Let us start now by passing a true balance budget amendment.
Source
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