[Congressional Record Volume 141, Number 40 (Friday, March 3, 1995)]
[House]
[Page H2585]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                A RESPONSIBLE WAY TO BALANCE THE BUDGET

  (Mr. SAWYER asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. SAWYER. Mr. Speaker, it does not make sense for a family to take 
out a bank loan just to pay for its weekly grocery bill. But if they 
are buying a house, it does make sense for a family to get a long-term 
mortgage. The groceries will be gone within a week. But the house will 
last for a long time.
  It is the same way with the Federal budget. It does not make sense 
for our Government to take on debt for current consumption--to pay for 
the fuel and sailors that keep our Navy's ships at sea every day. But 
it does make sense to take on debt for long-range investments--to build 
the aircraft carrier that will last for a long time.
  Yet under today's illogical budget rules, we treat consumption and 
investment the same way.
  Today I am sponsoring a measure to create an operating budget and a 
capital budget. It would require the operating budget to be balanced by 
2002. But it would permit borrowing for capital investments that will 
strengthen our future.
  Our budget is in trouble because we fail to differentiate between 
consumption and investment. That outlook must change. My balanced-
budget plan will help put our Nation's finances back onto a responsible 
footing.


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