[Congressional Record Volume 140, Number 26 (Thursday, March 10, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: March 10, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                              THE ECONOMY

  (Mr. CLYBURN asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. CLYBURN. Mr. Speaker, it was expected to be a fiscal failure. It 
was predicted to create a recipe for disaster. It was supposed to drive 
the economy in the gutter.
  It had been compared to a deadly virus that would kill jobs, stifle 
economic growth, and suffocate the American people with higher taxes.
  Where is this monster of economic mayhem of whom I speak? Mr. 
Speaker, I rise today to tell you that such a monster does not exist 
and is purely a myth created in the minds of those who did not believe 
in the efficacy of President Clinton's budget.
  Instead of a monster bent of economic destruction, the President's 
budget--like a phoenix rising from the ashes of previous 
administrations--has brought about positive changes for the American 
people and the American economy.
  Leading economic indicators are up. Consumer confidence is up. Job 
growth, household spending, retail sales, business investments, factory 
orders and housing starts also are on the rise.
  Low interest rates have spurred business investments and made it 
possible for millions of Americans to refinance their homes.
  And to those who seek to divert attention from the realities of this 
Nation's sound economy, the $255 million budget deficit, the lowest 
since 1979, should serve as a major indicator of a budget that has 
proven itself to be right on target.

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