Charles W. Stenholm: “I want to choose my words very carefully today, because tomorrow I may eat them, just as I have heard many statements…”

“I want to choose my words very carefully today, because tomorrow I may eat them, just as I have heard many statements made on this floor today that I think are going to be eaten. When you govern this country based on political promises and polls rather than sound economics and good policy, the market will correct us. Let me remind everyone to start looking at what is happening to long-term interest rates as we have been debating this tax cut. They have gone up 4 percent, which means a tax increase on all soon-to-be homeowners. Now, this budget bets the ranch that the surpluses that everybody talks about are going to be there. If they are not, we are going to have a difficult time governing in this body in a bipartisan way. Social Security has been mentioned, and my number one disappointment in this budget is the fact that there is no money left for us to do the kind of bipartisan Social Security reform that I wanted to work with my President for. My colleagues have spent it all. Then my colleagues come in and sunset in 2011. Mr. Speaker, I wanted to do something for estate taxes. I wanted to have an immediate $4 million exemption for small businesses owners all over the country effective now. This one does not survive the laugh test. It does not even deserve the laugh test.”