[Congressional Record Volume 141, Number 35 (Friday, February 24, 1995)]
[Extensions of Remarks]
[Page E423]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                APPLY SPENDING CUTS TO DEFICIT REDUCTION

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                            HON. TIM ROEMER

                               of indiana

                    in the house of representatives

                       Thursday, February 23, 1995
  Mr. ROEMER. Mr. Speaker, like most Americans, I am deeply concerned 
about the Federal budget deficit and the need to get our fiscal house 
in order in Washington.
  Every family and business in America has learned to live within their 
means, and it is time for the Federal Government to do so as well.
  Clearly, the best way to balance the budget is to cut spending. There 
are many programs on the books right now which we do not need or cannot 
afford, such as the $10 billion space station. I intend to continue my 
efforts to eliminate these programs, so we can get Federal spending 
under control and move toward a balanced budget.
  Spending cuts are not going to do the job, however, unless we are 
diligent about applying the savings we achieve through spending cuts to 
deficit reduction.
  For that reason, I am strongly opposed to the so-called middle-class 
tax cuts which have been proposed in recent weeks by both the President 
and the Congress. Deficit reduction should be the priority.
  If these tax cuts are approved, they will add approximately $200 
billion to the budget deficit over the next 5 years--more than double 
the current budget deficit. In return, most American families can 
expect to receive a tax cut of about $400 a year, or little more than a 
dollar a day.
  Put another way, the typical American family could increase its 
buying power by about a cheeseburger a day. That might be good for 
McDonald's, but I am not sure it is so good for our country at this 
time.
  In fact, given the choice, I am sure that most families would be 
willing to forgo a tax cut at this time if they knew the savings were 
being applied to deficit reduction, and not squandered on other 
spending programs.
  Mr. Speaker, in the long run, deficit reduction is the best tax cut 
we can offer the American public. Keeping up the deficit fight means 
lower interest rates, lower inflation, and steady job growth. It means 
a stronger economy and a brighter future for our children and 
grandchildren.
  For that reason, I have today introduced a resolution which expresses 
the sense of Congress that deficit reduction should be a top priority, 
and that the savings we achieve from spending cuts should be applied 
primarily to deficit reduction.
  I urge my colleagues to support this resolution.
  

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