Mark Neumann: “today CBO or the Congressional Budget Office, the agency that is responsible for tracking revenues and expenditures of…”

“today CBO or the Congressional Budget Office, the agency that is responsible for tracking revenues and expenditures of the United States Government on behalf of the House of Representatives and the Senate, released a new set of estimates. And it does verify that for the first time since 1969, we are going to have a surplus in fiscal year 1998. This is great news for America. The first time since 1969, I was a sophomore in high school, the United States Government spent less money than what they had in their checkbook. To me when I came here 3 years ago, this was deemed an impossible dream. When we said we were going to balance the budget by the year 2002, people looked at us, yawned and basically said, we do not believe you, because they had made so many broken promises in the past. Today we stand here with final documentation and verification that in fact the budget is not only balanced, but we are running a surplus. CBO, the scoring agency or the agency responsible for making predictions here in Washington, is suggesting that we have about a 5, maybe a $10 billion surplus. I would like to go a step further than that. I believe the surplus is much more significant than that. I believe that we will run a surplus in fiscal year 1998 in excess of $25 billion.”