[Congressional Record Volume 141, Number 161 (Wednesday, October 18, 1995)]
[Senate]
[Pages S15269-S15270]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                           A BALANCED BUDGET

  Mr. COVERDELL. Mr. President, I rise in support of the long, arduous 
march, 32 years long, to balance the budget of the United States.
  This is a most historic period in American history. On or about 
October 24, this Congress, the House and the Senate, will come head to 
head with the decision to join with America in its call for properly 
managing our financial affairs.
  What we have here is a classical contest between those who come from 
the country arguing that Washington should stop doing business the way 
it has been and those who believe that Washington should continue just 
as it has been. Look at the essential questions that will be settled. 
In the case of the budget, the new Congress, the majority, is arguing 
that the budget should be balanced and it should be balanced within 7 
years.
  I read from Newsweek magazine by author Joe Klein, who talks about 
the chief spokesperson for the status quo, in name, the President of 
the United States. He says:

       The sloppy, hyperactive wonkiness that defined Clinton's 
     first 2 years in office has been supplanted by a sleek, 
     tactical cunning. He has traded activism for passivism. He 
     gives the appearance of taking stands--for some sort of tax 
     cut, some sort of welfare reform, some sort of balanced 
     budget--but these are ploys, mirages; they exist only to 
     undermine positions taken by the Republicans.

  A fundamental goal of this vote on October 24 will be to balance the 
budget. The President promised a balanced budget in 5 years when he ran 
for President. He forgot the promise. He then said he would not offer a 
budget, leave it to the Republicans. He then offered a budget that was 
unbalanced and received no votes when it was put before the Senate. It 
was 99 to zero. He then said he would give us a balanced budget within 
10 years. But the Congressional Budget Office and all economists know 
that is not so; it does not balance in 5 years, 7 years, 10 years, or 
any years. The status quo or change; balance the budgets or leave them 
spending new debt and deficits.
  Second, tax relief. I read, Mr. President, from today's Washington 
Times. And I am quoting the President:

       It might surprise you to know that I think I raised [taxes] 
     too much, too.

  President Clinton said last night he thinks he raised taxes too much 
in his first year in office. Fine. We are trying to refund that tax 
increase. His tax increase, the largest in American history, was about 
$250 billion--status quo--tax more and spend more. We are proposing to 
lower taxes $245 billion--change, lower taxes on the working family, 
lower taxes on American business. Change or status quo.
  We say in response to the Medicare trustees that Medicare must be 
saved or it will go bankrupt in 6 years. We have offered a good plan. 
It saves Medicare for current beneficiaries and those yet to come. It 
is reasonable and does what the country needs to have done.
  What does the Democrat plan do? First of all, it is 21 pages. It is 
not a plan. The Congressional Budget Office cannot score it because it 
does not have enough detail. At best, if it were so and it were a plan, 
which it is not, it would push the solvency out 24 months. Is that what 
the beneficiaries are looking for, 24 months of a reprieve, or are they 
looking for us to take this program and make it solid 

[[Page S 15270]]
and solvent and something forever American family?
  Status quo--just tinker with it, or change it and make it work?
  Fourth, welfare reform: On October 24, if those votes prevail, 
welfare as we know it today will never be the same. We are saying that 
was a failed program. All America knows this. So we are changing it.
  Who are the adversaries? Who wanted it left the same? Who has told 
the country we ought not to change it? It is the other side of the 
aisle.
  So on these four great issues:
  Balancing the budget: We stand with America, who says, ``Balance 
it.'' The President says, ``Stay with the status quo.''
  Medicare: We say, ``Save it, change it, make it plausible, and reach 
solvency for 10 to 20 years.'' What do they say? ``Keep it the way it 
is, tinker with it 24 months.''
  Tax relief: ``Well, I raised taxes too much.'' We are saying, ``Fine. 
Reduce them. Lower the burden on the working families so that the 
family can care for itself.''
  And welfare: ``Change it.'' ``No, leave it the same.''
  Mr. President, this is probably one of the most historical votes in 
the history of the Congress. That question is, are we going to take the 
changes that America is asking for and respond to them and do it, or 
are we going to defend Washington and three decades of bureaucracy, tax 
America, spend America, and leave it the same? That is the fulcrum. 
That is the question.
  I hope every American is riveted on the votes that are cast and what 
they stand for. Change it. A new way--go into the new century ready to 
do it, an American century. Or the status quo that has brought us 
almost to our knees.
  Mr. President, I yield the floor.
  Mr. COCHRAN addressed the Chair.
  The PRESIDING OFFICER (Mr. Faircloth). The Senator from Mississippi 
is recognized.
  Mr. COCHRAN. Mr. President, I understand that the time under our 
special order has expired.
  I want to thank the distinguished Senator from Georgia for his 
remarks and also those other Senators who have spoken so eloquently and 
convincingly this afternoon on the subject of the importance of our 
reconciliation process, balancing the budget, and ushering in a new era 
of fiscal responsibility. That is what we are determined to achieve, 
and with the support of Senators we will achieve that and make this a 
truly new day for America.
  Mr. DORGAN addressed the Chair.
  The PRESIDING OFFICER. The Senator from North Dakota is recognized.
  Mr. DORGAN. Mr. President, am I correct that the previously agreed 
upon agenda gives us 1 hour?
  The PRESIDING OFFICER. The Senator has all the time he needs between 
now and 2 o'clock.
  Mr. DORGAN. I thank the President for that advice.

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