Political Quotes

“I rise in strong support of House Concurrent Resolution 218, the fiscal year 1995 budget resolution drafted by Mr. Sabo and his colleagues. House Concurrent Resolution 218 follows the steady path of deficit reduction and general economic recovery initiated by the President's deficit reduction plan. This budget resolution reflects both the realities and the priorities of last year's $500 billion deficit reduction package. There is deficit reduction--the deficit will drop from $255 billion in fiscal year 1993 to $175 billion in fiscal year 1995. Indeed, the budget deficit will drop from 4.9 percent of the gross domestic product to 2.5 percent of the GDP in fiscal year 1995. House Concurrent Resolution 218 cuts $102 billion from domestic discretionary spending, terminates over 100 programs, and cuts 200 other programs. Moreover, for the first time in 26 years, total discretionary spending will actually decline with passage of this budget resolution. It is important to note that these cuts are a direct result of last year's enactment of the President's deficit reduction package which many of my colleagues from the other side of the aisle said would wreak havoc on the economy. The budget resolution targets $13.6 billion to a number of investment priorities. Job training would be boosted by $497 million. Spending to stop crime and put more police on the street would be increased by $2.5 billion.”