[Congressional Record Volume 141, Number 180 (Tuesday, November 14, 1995)]
[House]
[Page H12205]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   UNCLE SAM NEEDS A CREDIT COUNSELOR

  (Mr. EHLERS asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. EHLERS. Madam Speaker, I ask you to imagine an American family, 
Mr. and Mrs. Doe, who have accumulated a debt more than three times 
their annual income and who are spending each year 10 percent more than 
they receive as income. Within a few years, their credit card companies 
say, ``We have to cancel your credit cards,'' and their other creditors 
say, ``We want to be paid off.'' Mr. and Mrs. Doe go to see a credit 
counselor. They say, ``We would like to work this out. We want to 
achieve a balanced household budget, but we would like to have 10 years 
to do it, or at least 7 years. What do you think?'' The credit 
counselor is going to say, ``That is absurd. You have to do it this 
year.''
  Yet we as a nation have a national debt over three times our annual 
income. Furthermore, Uncle Sam is spending 10 percent more than his 
annual income each year. What do you think a credit counselor is going 
to say to Uncle Sam? I think Uncle Sam needs a credit counselor. The 
counselor is going to say, ``You have to balance the Federal budget. 
You do not have the luxury of the 10 years the President is asking for. 
You probably do not even have the luxury of 7 years.''
  Let us balance the Federal budget right away, just as the American 
family has to do.

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