[Congressional Record Volume 141, Number 177 (Thursday, November 9, 1995)]
[House]
[Page H11981]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          WHAT A BALANCED BUDGET MEANS TO THE AMERICAN FAMILY

  (Mr. HERGER asked and was given permission to address the House for 1 
minute.)
  Mr. HERGER. Mr. Speaker, what will a balanced budget mean to the 
American family?
  Economists predict that balancing the budget will bring about a 2-
percent drop in the interest rates. On an average 30-year home mortgage 
of $75,000, families will save $37,000 over the life of that loan. On 
an average 10-year student loan of $11,000, graduates will save $2,160 
over the life of that loan. And on an average 4-year car loan of 
$15,000, families will save $900 over the life of the loan.
  Mr. Speaker, we are talking about real savings for all Americans. The 
economic future of our country is at stake. No more excuses. No more 
gimmicks. The time has come to balance the Federal budget. Americans 
deserve the chance to realize the savings that a balanced budget will 
bring to their family.

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