[Congressional Record Volume 140, Number 91 (Thursday, July 14, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: July 14, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                   DISCRETIONARY SPENDING IS WAY DOWN

  (Mr. HOYER asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. HOYER. Mr. Speaker, I did not know my colleague on the Committee 
on Appropriations was going to precede me. My colleague surely knows, 
surely knows that discretionary spending is plummeting. Here is the 
chart: 1953, 18.3 percent of gross domestic product spent on 
discretionary spending. That is down to 8.2 percent in 1994.
  Gridlock has ended and action has begun; that is the difference.
  The economy is growing. The economy is creating jobs. The economy is 
growing at a faster rate than it did under Ronald Reagan and certainly 
under George Bush, which had the lowest level of economic growth and 
job creation in the past half-century.
  Ladies and gentlemen of this House, you and I both know that as a 
result of actions taken in this Congress we are creating 6,000 jobs per 
day in America. When I pointed out just a second ago about the economic 
growth, yes, let's talk facts. Here are the facts, not the rhetoric 
that we have heard, but the facts that exist, and why consumer 
confidence is up, why business confidence is up, why interest rates are 
remaining down and job growth is over 3.7 million new jobs, 90 percent 
in the private sector just over the last 18 months.
  Economic growth of 1.5 percent under the previous administration in 
the 4 years; 3.2 percent, higher than Reagan, higher than Carter, 
higher than Ford, higher than Nixon. Not until you go back to Johnson 
and Kennedy do you get the same kind of economic growth.
  Let us keep on track, create jobs, and make life better for all our 
citizens.

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