[Congressional Record Volume 141, Number 111 (Tuesday, July 11, 1995)]
[Extensions of Remarks]
[Page E1406]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                            CLINTON RECESSION

                                 ______


                            HON. RON PACKARD

                             of california

                    in the house of representatives

                         Tuesday, July 11, 1995
  Mr. PACKARD. Mr. Speaker, President Clinton is preparing to attack 
the Contract With America and the Republican policies we have worked so 
hard to pass. He is going to claim that these policies are to blame for 
a recession that is just around the corner. Mr. Speaker, nothing could 
be further from the truth. Our tax cuts and balanced budget proposals 
have not even been enacted into law and he is claiming Republicans are 
responsible.
  The fact is, when the economy begins to decline, the President need 
look no further than his own office. His historical tax increase has 
hurt middle class Americans. Wages and salaries fell 2.3 percent 
between March 1994 and March 1995. That is the largest drop on record. 
National savings plummeted 5.2 percent in March and April, most 
probably because the American taxpayer had to pay more this year than 
last to the IRS and the list does not end here. Jobs, industrial 
production, factory orders and housing starts have all dropped. 
President Clinton's budget policies take the drive out of our economic 
engine.
  Mr. Speaker, I strongly believe that through smaller Government and 
tax cuts we can recession proof the economy and put it back on track. 
Furthermore, regulatory and tort reform will put unprecedented muscle 
behind our economy, creating a vibrant economic future of all 
Americans.


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