William Clinger said "The concept of the lockbox is very simple. It makes basic common sense. In essence it provides that amendments to cut spending actually produce savings. I think I was as dismayed as many people to realize that when we often go through agony to get savings, those savings are not real; they in fact are then used for other purposes. Most taxpayers would agree and believe that when Congress agrees to eliminate $5 billion for the space station or $7 billion for the super collider, that the money remains in the Treasury. But in fact under existing law or current law those tax dollars go back into the pot and can be reallocated or spent later in the same year. So I think everyone would have to agree that is an odd process at any time, and the practice frankly is just absolutely insupportable in an era of $200 billion deficits and $5 trillion national debt." @ PoliticalQuotes.com

On the recordSeptember 13, 1995

The concept of the lockbox is very simple. It makes basic common sense. In essence it provides that amendments to cut spending actually produce savings. I think I was as dismayed as many people to realize that when we often go through agony to get savings, those savings are not real; they in fact are then used for other purposes. Most taxpayers would agree and believe that when Congress agrees to eliminate $5 billion for the space station or $7 billion for the super collider, that the money remains in the Treasury. But in fact under existing law or current law those tax dollars go back into the pot and can be reallocated or spent later in the same year. So I think everyone would have to agree that is an odd process at any time, and the practice frankly is just absolutely insupportable in an era of $200 billion deficits and $5 trillion national debt.

Said by

William Clinger

Republican · Pennsylvania

Source

govinfo.gov

Editor's note · Context

Speaking in support of a bill aimed at ensuring that spending cuts result in actual savings.

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