[Congressional Record Volume 140, Number 63 (Thursday, May 19, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: May 19, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                        IT'S THE STUPID SPENDING

  (Mr. SMITH of Texas asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. SMITH of Texas. Mr. Speaker, 2 days ago the Washington Post 
carried a story that read: ``White House Wonders Why Interest Rates 
Keep Rising.''
  If this is true, then someone needs to buy the White House a mirror.
  During the 1992 campaign, the Clinton team had a slogan. It had been: 
``It's the Economy, Stupid,'' but since entering office has been the 
stupid spending.
  The only things this administration has cut are either painted 
camoflage or salute. Last year President Clinton's budget deal was 3 to 
1 tax increases to spending cuts.
  Not only can the President not bring himself to cut spending, but he 
opposes anyone else trying to do so as well.
  He has opposed Republican attempts to cut spending in each of the 
last 2 years. He opposed the Penny-Kasich amendment last November, 
opposed a bipartisan balanced budget amendment this year, and is 
opposing the A to Z spending cut plan today.
  With this kind of record, it is no wonder the Federal Reserve feels 
it had to do what the administration will not.

                          ____________________