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as our previous speakers have said, we stand tonight on the brink of war, the very precipice of war. It may seem untimely to talk about the budget, but it so happens that the budget is the order of business. We are about to go through the…
Typically not. That means they will be added to the total amount of spending. It will go straight to the bottom line, because, as I said, there is no surplus anymore to absorb the amount of money that will be needed, $50-, $100 billion…
As large as the deficits are in this budget, I just read them to my colleague, they accumulate $3.2 trillion over the next 10 years. There is nothing in here to pay for the war in Iraq, and there is nothing in here either to pay for our…
I have one chart here which runs the risk of being a little complex, but it tells a great deal about where we are. First of all, it shows the surplus that we thought we had that OMB estimated in January of 2001 as $5.637 trillion. A few…
I rise today to voice grave concerns about this bill. This bill reflects a steady erosion of the federal government's commitment to provide a safety net for low-income working families. States now face a severe fiscal crisis due to the…
on the chart I have just displayed it is clear from the Office of Management and Budget that the real surplus adjusted for the real economy over the last couple of years is not $5.6 trillion, but $2.4 trillion. Out of that $2.4 trillion in…
what the gentleman is talking about is the authorization act Mr. Bush signed and signed into law and took credit for.
The authorization act calls for $9 billion more in the fiscal year 2004 than his budget in this year's request.
The blue bar charts, the blue bars above the horizontal axis show the surplus that is accumulating in Social Security, for now. But it is for a limited period of time, intended to be used for parents, for the retirement of the baby…
the point I was making at the outset is, 2 years ago OMB projected a surplus of $5.6 trillion. The Bush administration then enacted a massive tax cut taking advantage of that big surplus. They now acknowledge that they overstated…
Furthermore, we now know that the surplus is gone, per OMB. They have acknowledged it. CBO, the Congressional Budget Office, says the same thing. That ought to be an alarm sound calling for us to begin developing plans like the plan we…
Let me wrap up and let us bring it to a conclusion because the gentleman has been in investment banking for the last 6 or 7 years, and the gentleman knows that traditional economic theory for as long as we have known anything about it has…
let me enlarge upon the point the gentleman is making, and that is, as bad as the Bush administration says, when pressed, where is your solution, what plan do you have? Cut spending, cut spending. In truth, as the gentleman is pointing out…
That does not include the war against Iraq. That does not include the war against terror. The Secretary of Defense told us the other day, if and when those costs come, we will send up a supplemental. If you add that to the bottom line, it…
That is Senator Dole, I think. The point we are trying to make now is that we may have a tax cut today, but if it ends up causing the government to incur more debt, the debt has to be paid. It has to be serviced. Interest on it has to be…
the gentleman's point, and the point of the gentleman before him, was that even in this budget with big deficits, $400 billion and more every year for the next 5 years, $2.1 trillion in the general fund, additional deficits, additional…
This is not only good, but necessary, legislation. I am glad to see us move it. S. 141, this bill before us, would allow the Office of Management and Budget, OMB, to change its 2003 technical assumptions regarding the SBA general business…
I wanted to address a very grave matter that affects our country, and that is the status of our budget. It is hard to believe that just 2 years ago when we began the budget process as we do now this country looked forward to a surplus of…
Mr. Speaker, I think that I want to caution my friends on the Democratic side do not get excited. You guys understand this President is in total control of this country, and he lied to us about taxes and now it is coming home to roost. Do…
would it be the chairman's intention in the next Congress to introduce legislation, pass it through our committee, bring it to the floor, which would reinstate discretionary spending caps and the PAYGO rule for 5 additional years?
In 1990, after years of trying to get our hands around the deficit, we finally had a budget summit with President Bush and we devised not only a 5-year plan for reducing the deficit, but we also passed something called a Budget Enforcement…
I first encountered this thing we call a continuing resolution when I was a young officer in the Army working for the Assistant Secretary of Defense Comptroller. I remember how it was explained to me then by the DOD's General Counsel. He…
Mr. Speaker, on grave occasions like this when we pass a war powers resolution, surely, surely one of the things we should seek is a broad base of support. The amendment I propose in the nature of a substitute seeks to broaden the base for…
Far from supplanting that bill, which was the Afghan War Powers Act, we reassert in this legislation the primacy of our policy, and that is to go after al Qaeda. We do that by saying to the President, before we go off in pursuit of another…
First, they claim that this bill somehow, even though there is not a word in it, supplants Public Law 102-1, which has the authority to go after terrorists, which is not true, and then they say that we are wrong in saying to the President…
Politicians like John Spratt
