[Congressional Record Volume 140, Number 21 (Wednesday, March 2, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: March 2, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                       1994'S ECONOMIC REALITIES

  (Ms. DeLAURO asked and was given permission to address the House for 
1 minute and two revise and extend her remarks.)
  Ms. DeLAURO. Mr. Speaker, last year, when Congress enacted President 
Clinton's budget, America was subjected to an onslaught of gloom and 
doom predictions from many Republican Members of this body. One after 
another they stood at this podium to spout scary scenarios of economic 
collapse. But, 1 year later, those words have been proven to be nothing 
more than hollow rhetoric in the light of new economic realities.
  ``I will tell you, this program will not give you deficit 
reduction,'' said one Republican Congressman.
  1994's reality: Last year's budget did lower the deficit. And, the 
$500 billion in deficit reduction was the largest deficit reduction in 
history.
  ``The simple fact is the Clinton plan will not lower interest 
rates,'' from yet another Republican.
  1994's reality: We have the lowest interest rates in a quarter 
century.
  The lowest interest rates in 25 years, 1.6 million new jobs, and the 
largest deficit reduction in history, that is the economic reality of 
1994. As we embark on the budget debate this year, beware of the old 
partisan rhetoric that belies our new economic reality.
  ``Your economic program is a job killer,'' said one leading 
Republican.
  1994's reality: The budget was a job creator--creating more than 1.6 
million new jobs. More jobs were created in the last year than during 
the entire 4 years of the Bush Presidency.

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