Ron Kind: “today we are considering the legislative follow-up to the majority's irresponsible budget resolution narrowly passed…”

“today we are considering the legislative follow-up to the majority's irresponsible budget resolution narrowly passed earlier this year. It is another chance to ask ourselves if what we are doing is the right choice for America, and the right choice for future generations. I can only hope that this House reflects on past performance, and switches course away from the path toward fiscal oblivion that the majority is leading our nation. Based on the policies promoted by the President and the majority, the Federal Government will be running deficits as far as the eye can see, with a record $400 billion deficit in 2004 alone. Just to keep things in perspective, the Congressional Budget Office estimated in 2000 that by 2010, we would have a $5.6 trillion budget surplus. That projected surplus has turned into a projected $2 trillion deficit over ten years--a reverse of $8 trillion since President Bush took office. Now, it is understandable that in a time of economic slowdown, increased terrorist threats, and military action in Iraq, government spending priorities change, and we may have to run some short-term budget deficits to meet new challenges. However, the most disturbing thing about the majority's fiscal policy is that they make no effort to stem this deficit trend. This is an important problem because deficits do matter.…”