[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H. Con. Res. 216 Introduced in House (IH)]







105th CONGRESS
  2d Session
H. CON. RES. 216

  Expressing the sense of Congress regarding the use of future budget 
                               surpluses.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 11, 1998

  Mr. Shaw  (for himself, Mr. LaHood, and Mr. Bachus) introduced the 
 following resolution; which was referred to the Committee on Ways and 
                                 Means

_______________________________________________________________________

                         CONCURRENT RESOLUTION


 
  Expressing the sense of Congress regarding the use of future budget 
                               surpluses.

Whereas it is anticipated that the budget of the United States Government will 
        be in surplus in fiscal year 1999;
Whereas the Office of Management and Budget has forecasted growing surpluses 
        until fiscal year 2008;
Whereas the budget of the United States Government has not been in balance since 
        1969;
Whereas the last time a balanced budget was submitted to Congress was by 
        President Richard M. Nixon in 1971;
Whereas a unique set of interrelated factors, including a fiscally disciplined 
        Congress, low interest rates, a strong economy, low unemployment, 
        decreasing welfare dependency, the end of the cold war, the abolition or 
        reduction of wasteful government programs by Congress, and the present 
        Administration's willingness to submit a balanced budget has contributed 
        to eliminating the budget deficit;
Whereas reversal of any of those factors could mean a return to budget deficits;
Whereas a budget surplus could allow Congress to better address critical needs 
        in the areas of transportation, education, defense, or health, and to 
        cut taxes;
Whereas Congress has authorized the national debt, by law, to reach 
        $5,500,000,000,000, which represents a significant financial burden on 
        the people of the United States;
Whereas paying down the national debt would help preserve social security, keep 
        interest rates low, and reduce the Government's annual interest 
        payments, which totaled $245,000,000,000 in fiscal year 1997; and
Whereas leaving the next generation of Americans a $5,475,000,000,000 debt is 
        immoral: Now, therefore, be it
    Resolved by the House of Representatives (the Senate concurring), 
That Congress declares that at least half of any future budget surplus 
should be used to reduce the national debt.
                                 <all>