[Congressional Record Volume 141, Number 79 (Friday, May 12, 1995)]
[Senate]
[Pages S6643-S6644]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
THE BUDGET
Mr. DOLE. Mr. President, in January 1961, Dwight Eisenhower gave his
last speech as President to the American people.
And in those remarks, Ike offered some advice which should be
remembered by all of us in the Senate--and all Americans--as the
Federal budget moves to the top of our agenda in the coming weeks.
Eisenhower said, and I quote:
As we peer into society's future, we must avoid the impulse
to live only for today, plundering for our own ease and
convenience the precious resources of tomorrow. We cannot
mortgage the material assets of our grandchildren without
risking the loss also of their political and spiritual
heritage. We want democracy to survive for all generations to
come, and not to become the insolvent phantom of tomorrow.
It has now been over 34 years ago since President Eisenhower spoke
those words. And as everyone here knows, they are words that have been
tragically ignored. When Ike left the White House, our national debt
stood at approximately $248 million--$248 million. Today, it is $4.8
trillion. And it continues to grow by $355,000 each and every minute--
that is $482 million a day--far more than our entire debt in 1961.
There can be no getting around the fact, Mr. President, that America
is at a crossroads, and we face a choice.
Down one road is the status quo.
It is a road that means living for today, plundering the resources of
tomorrow.
It is a road that means we continue to mortgage the assets of our
children and grandchildren.
It is a road that sentences our country to the future that Eisenhower
foresaw--a future as an insolvent phantom.
This is a very easy road to take, because it involves no tough
decisions, and no leadership of any kind.
And it is the road recommended by President Clinton, and by many of
my friends on the other side of the aisle.
Down the other road is change.
A road that means reversing the spending patterns of the last three
decades.
A road that means reducing the rate of growth of Government spending.
A road that allows Congress to rein in the Federal Government, and to
return power to the States and more importantly to the people.
It is a road that will be very bumpy, because it will require some
tough, tough, tough decisions.
It is a road that requires leadership--leadership that House and
Senate Republican majorities are willing to provide.
It is a road that we must take, because it is a road that will result
in a stronger America for our children and our grandchildren.
And thanks to the courage and hard work of Chairman Domenici, and his
fellow Republicans on the Senate Budget Committee, we now have a map
which will help guide us down this road.
In developing a historic budget that slows the growth in Federal
spending from 5 to 3 percent a year, and that achieves a balanced
budget within 7 years, Senator Domenici and the Budget Committee
deserve the gratitude of all Americans.
The Domenici budget reflects our commitment to the American people to
rein in the Federal bureaucracy. It eliminates more than 140 Federal
departments, agencies, and programs--including the Department of
Commerce. In doing so, it moves power out of Washington, and back to
the people, where it belongs.
The Domenici budget reflects our commitment to keep Americans safe.
It maintains funding for the FBI, the DEA, the INS, and for crime-
control initiatives that aid police on the front lines in the war
against crime.
The Domenici budget reflects our commitment to protect Social
Security, and to preserve, improve, and protect Medicare.
And it reflects our commitment to maintain a safety net for those in
true need, by funding WIC, School Lunch and Breakfast Programs, Head
Start, child care, and efforts to track down deadbeat dads.
Senator Domenici should also be congratulated for keeping the
majority members together in defeating Democrat amendments to raise
taxes, cut defense, or spend more money.
Is the Budget Committee proposal perfect? Of course not. Every
Senator--including this one--could find some program they thought
needed more money, or others that needed less. But it is a historic
document that truly sets America in the right direction.
And I might add that, according to this morning's newspapers, the
world agrees with that statement. These press reports suggest that
because of speculation we actually might do more than we have in the
past to cut the deficit, the dollar staged its biggest 1-day rally in
nearly 4 years.
Apparently, this news slipped by the Clinton administration. Despite
the Vice President's promise a few months ago that--and I quote: ``We
think the task of balancing the budget is one that we have to actually
take responsibility for ourselves,'' notwithstanding that quote, the
White House has chosen to abdicate a leadership role in reducing our
deficit.
The budget they proposed earlier this year, is one that would give us
deficits
[[Page S6644]] of $300 billion for as far as the eye can see.
Mr. President, the new Republican Congress promised to make the tough
decisions. We promised to fight the status quo. We promised to stand
for real change. We promised to balance the budget. And as this budget
proves, we are keeping our promises.
And make no mistake about it, at the same time we are balancing the
budget, we will also keep our promise to provide real tax relief to
America's families.
Let me close, Mr. President, by warning the American people that in
the coming weeks, President Clinton and his administration will be
trotting out the same old scare tactics they tried before last
November's election.
We will hear them say that Republicans are heartless. We will hear
them say that Republicans want to help the rich, and harm those in
need. We will hear them say that we are targeting children and seniors.
We will see them throw a lot of rocks at Republicans. But I am afraid
what we will not see from them is leadership.
While they engage in class warfare, the Republican Congress will
continue to declare war against the deficit. And with the support of
the American people, it is a war that we will win.
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