[Congressional Record Volume 141, Number 16 (Thursday, January 26, 1995)]
[House]
[Page H697]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                     THE BALANCED BUDGET AMENDMENT

  (Ms. McCARTHY asked and was given permission to address the House for 
1 minute.)
  Ms. McCARTHY. Mr. Speaker, this week we consider legislation that is 
the first step in a long process that will lead to a balanced budget. 
While we all know the litany of numbers surrounding the growth of the 
national debt, the numbers are so staggering they are worth repeating.
  Over the past 12 years, it has tripled in size. We are now saddled 
with a $5 trillion national debt and yearly interest payments of over 
$200 billion.
  I was elected to put an end to this practice, and for that reason I 
support the bipartisan, bicameral constitutional amendment offered by 
the gentleman from Colorado [Mr. Schaefer] and the gentleman from Texas 
[Mr. Stenholm].
  I urge every Member to support it.
  After we complete work on the balanced budget amendment, we will then 
turn to the budget and appropriations process. During consideration of 
the yearly spending bills, I will work hard to cut wasteful and 
unnecessary Government spending. There are plenty of programs to 
target, and I look forward to the debate that will take place during 
consideration of these bills.
  There will be tough choices to be made to reach our goal by 2002. 
However, as a former State legislator and past president of the 
National Conference of State Legislatures, there is one thing I will 
not cut. I will not support balancing the Federal budget on the backs 
of State and local governments.

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