[Congressional Record Volume 141, Number 48 (Wednesday, March 15, 1995)]
[House]
[Page H3162]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                     CONGRESS MUST MAKE BUDGET CUTS

  (Mr. SOLOMON asked and was given permission to address the House for 
1 minute.)
  Mr. SOLOMON. Mr. Speaker, we hear a lot from Members saying that we 
cannot cut this, we cannot cut that. But you know something, we have a 
budget which is shaped like a pie. A slice of that pie is the debt 
service, which is the interest we have to pay on a $4.5 trillion debt 
which, incidentally, is owned by countries like the Netherlands and 
Great Britain. They actually own this debt, the Treasury bonds.
  It takes $250 billion just today, this year, to pay the service on 
the national debt. If we allow spending to increase at the same level 
that it has increased over the last 5 years, we will add $1 trillion to 
the national debt. That means that the slice of the pie will no longer 
be $250 billion, it will be $360 billion. And as this slice of the pie 
to pay off the interest on that debt without even lowering the debt 
grows, it means less money to help those people who truly need help, 
like the aged, blind, and disabled.
  Keep that in mind when Members say do not cut this or do not cut 
that. We have to cut them all equally.

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