[Congressional Record Volume 140, Number 140 (Friday, September 30, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: September 30, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
       LET'S FACE UP TO THE PROMISES BEFORE THE NATION GOES BROKE

  (Mr. HORN asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. HORN. Mr. Speaker, today marks the end of the Federal 
Government's budget year. Since every responsible organization 
regularly reviews its achievements, we can ask ``How well has the 
Federal Government performed this year?''
  Many may not know that in 1994, for the 25th straight year, the 
Federal Government has failed to balance the budget. This year's 
deficit according to OMB is $220 billion or $880 for every man, woman, 
and child in the USA.
  But this is only part of the story, the USA annual shareholders' 
report assembled by citizens for Budget Reform uncovers the astonishing 
fact that cost of Federal promises are increasing 10 times faster than 
the national debt. Analysis by Citizens for Budget Reform shows that 
each citizen's share of these Federal promises is $145,000. The total 
for all Americans is $36.2 trillion--yes trillion--with a ``t'', not a 
``b''. Thus, the average family is responsible for $400,000.

  Taxpayers cannot afford these promises. How can we in Congress 
continue on this irresponsible course? The top 10 Federal promises each 
total $1 trillion dollars or more. And the next 19 promises each exceed 
$100 billion.
  The 81 Federal welfare programs--over $5 trillion--and nuclear waste 
cleanup--$1 trillion--are indicative of the bill that we citizens have 
been committed to pay.
  We need to examine these promises. Social Security and Medicare and 
civil service, military service, and veterans commitments should be 
kept, but let us carefully examine each of the others.
  Existing Federal promises will require that by 2030 Federal taxes 
would be doubled, as spending moves from 21.9 percent of GDP this year 
to a projected 37.3 percent. The cataclysmic consequences of too many 
Federal promises should be every citizen's nightmare.

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