[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H. Con. Res. 228 Introduced in House (IH)]







105th CONGRESS
  2d Session
H. CON. RES. 228

 Expressing the sense of the Congress regarding the primary objectives 
 of the process for preparing the Federal budget for fiscal year 1999.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 26, 1998

  Mr. Davis of Florida submitted the following concurrent resolution; 
 which was referred to the Committee on the Budget, and in addition to 
   the Committee on Ways and Means, for a period to be subsequently 
   determined by the Speaker, in each case for consideration of such 
 provisions as fall within the jurisdiction of the committee concerned

_______________________________________________________________________

                         CONCURRENT RESOLUTION


 
 Expressing the sense of the Congress regarding the primary objectives 
 of the process for preparing the Federal budget for fiscal year 1999.

Whereas the Congress and the Clinton Administration have worked diligently to 
        reduce the Federal budget deficit from an all-time high of 
        $290,402,000,000 in 1992;
Whereas the Congress, by adopting spending caps and pay-as-you-go-rules, has 
        exercised the fiscal discipline necessary to eliminate the massive 
        Federal budget deficits that began in the 1980's;
Whereas the Federal Government's unified budget for fiscal year 1999 is 
        projected to be in surplus, the first such surplus since 1969;
Whereas, despite the progress in eliminating the Federal budget deficit, the 
        publicly held debt of the Federal Government remains $3,771,148,000,000;
Whereas, unless the Congress preserves projected budget surpluses and reduces 
        the publicly held debt of the Federal Government, this debt will be a 
        legacy left to the Nation's children and grandchildren;
Whereas economists and budget experts have raised questions about the long term 
        solvency of the Social Security System;
Whereas reducing Federal Government borrowing will encourage greater savings and 
        investment; and
Whereas reducing the Federal Government's debt burden will increase economic 
        growth, raise future standards of living, and prepare the Nation for the 
        retirement of the baby-boom generation: Now, therefore, be it
    Resolved by the House of Representatives (the Senate concurring), 
That it is the sense of the Congress that--
            (1) reducing the publicly held debt of the Federal 
        Government and addressing the question of the solvency of the 
        Social Security System should be the primary objectives of the 
        process for preparing the Federal budget for fiscal year 1999; 
        and
            (2) any new tax cuts or spending increases must be 
        compatible with these objectives, offset fully within the 
        budget, and in accordance with the 1997 Budget Agreement.
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