the House Committee on the Budget had a hearing yesterday with the Congressional Budget Office. So it was about numbers, and normally numbers are boring and benign, but this laid out a nightmare scenario. When President Bush took office, the Clinton administration, in concert with the Congressional Budget Office, estimated that there would be a surplus over the next 10 years of $5.6 trillion. We now have an estimate for the next 10 years not of a surplus but of a cumulative deficit of $4.8 trillion. What a fiscal reversal! Over $10 trillion. I suppose we do not have to worry much about it because it is really going to be heaped on the backs of our children and grandchildren. We will retire on Medicare and Social Security before we will have to pay this number off. For this fiscal year the Clinton administration had us in line to have a surplus of $400 billion. We now will have a deficit of $477 billion. Getting rid of Saddam Hussein was a good thing to do. Tax cuts are always a popular thing to do. But somebody, someday is going to have to pay the piper. And I guess we've decided that somebody should be our kids after we retire. This is unfair. It is immoral, and it is irresponsible for this party to be such willing partners to this injustice.
Editor's note · Context
Discussing the fiscal impact of budget changes during a House Budget Committee hearing.
Share
More from James Moran
Mahmoud Ahmadinejad, Iran's vitriolic, anti-American, Holocaust-denying leader, just concluded the first ever trip to Iraq by an Iranian President. Many commentators in the Middle East hailed the visit as a diplomatic success for him…
I rise today to express deepest condolences on the passing of my fellow colleague from Virginia, the Honorable Jo Ann Davis. During her time in Congress, Jo Ann was a strong advocate for her constituents and an active voice on issues…
from 1942 through the end of the Second World War, a top secret military intelligence service operated clandestinely on the shores of our own Potomac River. At Fort Hunt Park, along the GW Parkway, a secret installation operated silently…
Well, what do you know, Mr. Speaker. After months of drum beat urging that we take a more aggressive posture toward Iran, mention by the President of a potential World War III, the assumptions, the assertions by the White House that Iran…





