[Congressional Record Volume 140, Number 96 (Thursday, July 21, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: July 21, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                           ECONOMIC RECOVERY

  (Mr. FARR of California asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. FARR of California. Mr. Speaker, last Friday the administration 
released some good news on the economy. In its mid-year report, the 
administration showed that Federal spending is down, the deficit is 
down, job growth is up, inflation is in check, and the economy 
continues to grow at a consistent pace.
  That is good news.
  But even better news is what is happening at the local level, the 
trickle-down effect.
  Just this past Monday in my district was a meeting of local business 
people, elected officials, and academics who issued their own mid-year 
economic report on the state of the local economy.
  The prognosis: The local economy is in better shape now than it has 
been in the past 2 years, and things continue to look bright.
  Much of this good news is due to the pro-active nature of the 
administration's drive to convert an abandoned military base in my 
district to a model for economic development. That drive culminated in 
a visit from Defense Secretary Perry 2 weeks ago when he handed over 
the land at Fort Ord to local ownership.
  Mr. Speaker, the administration's economic plan is working and I 
intend to help move it along any way I can, for the good of the 
country, and the good of my district.

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