[Congressional Record Volume 141, Number 106 (Tuesday, June 27, 1995)]
[House]
[Page H6317]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




            THE LARGEST DEBT EVER IN THE HISTORY OF MANKIND

  (Mr. HOKE asked and was given permission to address the House for 1 
minute.)
  Mr. HOKE. Mr. Speaker, $3 per month over the 10-year period; that is 
the amount extra that students who take out student loans are being 
asked to pay in response to the gentleman from Texas; $3 per month over 
120 months.
  Mr. Speaker, for the last 30 years the Federal Government has ignored 
the simple virtues that made America a great Nation. For generations, 
the American people built their lives around simple virtues: Thrift, 
hard work, and personal responsibility.
  Starting in the 1960's, though, the Federal Government began to 
reject these tried and true American virtues in favor of a value system 
that placed government at the center of any policy consideration.
  The results have been phenomenally disastrous.
  The Federal Government has racked up the largest debt ever in the 
history of mankind; a debt that will passed to future generations.
  Mr. Speaker, this week, Congress will vote to balance the budget in 7 
years. Not only will this budget return sanity to chaotic Federal 
spending, it will return our Government to the basic American virtues 
of thrift, hard work, and personal responsiblity.


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