[Congressional Record Volume 140, Number 97 (Friday, July 22, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: July 22, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                           THE WARNING SIGNS

  (Mr. DREIER asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. DREIER. Mr. Speaker, over the last several days, we have heard 
our colleagues from the other side of the aisle come down here and take 
credit for every ounce of economic growth that the country has seen 
over the past several months.
  Well, like everyone else, I am extraordinarily hopeful we will be 
able to see economic growth sustained and continue into my part of the 
country, southern California, where, tragically, it is not yet been 
felt.
  But, frankly, I think that our colleagues on the other side of the 
aisle should pause before they take credit for all of this economic 
growth and look at some warning signs that are out there. The first 
warning sign comes with interest rates. The President promised that his 
budget would lower interest rates. Interest rates have increased, not 
decreased, since that deal was completed.
  The second warning sign comes with the value of the dollar in 
currency markets. Since Mr. Clinton became President, the dollar has 
steadily plummeted and has been crashing all summer.
  The third warning sign comes with inflation. There are indications 
inflation will soon make a comeback as the administration continues 
with its ruinous economic policies.
  Mr. Speaker, I urge my colleagues on the other side of the aisle to 
heed these warning signs. The economy is not as healthy as they would 
like us to believe.

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