[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 45 Introduced in House (IH)]

103d CONGRESS
  1st Session
H. RES. 45

     Providing that the House of Representatives should defeat any 
 legislation designed to stimulate the economy during fiscal year 1993 
or 1994 if that legislation would also increase the size of the annual 
                     budget deficit for that year.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 26, 1993

 Mr. Gillmor submitted the following resolution; which was referred to 
                 the Committee on Government Operations

_______________________________________________________________________

                               RESOLUTION


 
     Providing that the House of Representatives should defeat any 
 legislation designed to stimulate the economy during fiscal year 1993 
or 1994 if that legislation would also increase the size of the annual 
                     budget deficit for that year.

Whereas the new Administration has not stated whether the budget submission to 
        Congress for fiscal year 1994 will increase or decrease the size of the 
        annual budget deficit;
Whereas the fiscal year 1992 budget deficit was $290,000,000,000, the largest 
        budget deficit in our history;
Whereas interest payments on the public debt are currently the third largest 
        item in the annual Federal budget, consuming over $200,000,000,000 each 
        year at the expense of other more important national priorities;
Whereas the ballooning public debt currently exceeds $4,000,000,000,000; and
Whereas any short-term economic gain arising from new deficit spending in fiscal 
        year 1993 or 1994 is not worth the additional long-term debt burden that 
        would be handed down to our children: Now, therefore, be it
    Resolved, That it is the sense of the House of Representatives that 
any legislation which would provide a short-term economic stimulus to 
the economy, but would also increase the size of the fiscal year 1993 
or 1994 budget deficit, should not be enacted into law.

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