[Congressional Record Volume 141, Number 185 (Sunday, November 19, 1995)]
[Senate]
[Pages S17480-S17481]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       THE CONTINUING RESOLUTION

  Mrs. FEINSTEIN. Mr. President, I would like to speak this afternoon 
as one of the seven Democrats who voted for the continuing resolution, 
House Joint Resolution 122, which passed the Senate on Friday.
  Essentially, as has been stated, this resolution provided what we 
have all wanted, a clean continuing resolution. In its third title, it 
said the Congress and the President, ``shall enact a balanced budget by 
the year 2002 which is balanced.'' I believe a balanced budget is 
something that a majority of this body supports--perhaps it draws more 
support on your side of the aisle, Mr. President, than on our side, but 
a balanced budget draws support from our side of the aisle as well.
  It is my understanding this continuing resolution has not yet gone to 
the President--in fact, that it is still in the enrolling clerk's 
office of the Senate. It is my hope that this resolution would go to 
the President for his signature. I would like to take a few minutes and 
explain why I think it is important that he do the statesmanlike thing, 
and sign this resolution, put Government back to work, call the parties 
together, and begin to negotiate on what is really the heart of the 
debate--the reconciliation bill.
  As long as we keep Government shut down over the absence of a 
continuing resolution, essentially all we are doing is talking about 
the size and shape of the table.
  Now, there are those who would say, oh, that is not correct because, 
inherent in the continuing resolution is a very important point. The 
Congressional Budget Office provides the economic and technical data 
which enables one to judge the revenues with which one would be able to 
balance the budget. In fact, many people believe that regardless of 
whether you use the Office of Management and Budget or the 
Congressional Budget Office estimates, both will in fact be off and 
perhaps by some significant amount. The differences could translate 
into billions of dollars, so it is a significant issue.
  But we have to keep our eyes focused on the economy. I know in 
California, for the first time in several years, revenues have begun to 
move ahead, some $700 million, ahead of estimates in this quarter of 
the year for the State of California. That is a good omen. It means 
that perhaps the economy will move ahead at a higher level than has 
been anticipated. The CBO's estimates then could be amended.
  For me, it is not a big difference because I think the economic 
projections will be amended, and they will be figured into the base of 
the future years as we move along. But I think what is important is 
that we put an end to what is taking place now because it has gone on 
now for 5 days and is in fact beginning to hurt people. There are small 
businesses in my State that are contractors with the EPA or with 
Defense that are now laying off employees. There are 60,000 Head Start 
youngsters that now may not be able to attend school.
  I listened to Senator Stevens quite eloquently outline on the floor 
of this body yesterday afternoon the impact that this shutdown is 
beginning to have on the military. He pointed out that in just a matter 
of a week, there will be no fuel. He pointed out that already people 
beginning to move on military leave to go home for Thanksgiving are 
being stopped; that there is no money being paid for many kinds of 
duties that the military must carry out.
  We know what is happening with our national parks. The Senator from 
Arizona very eloquently stated the conditions at the Grand Canyon. At 
Yosemite National Park, I can tell you that $22,000 a day is unable to 
be taken in because it is closed.
  We know that the Securities and Exchange Commission is unable to 
collect higher filing fees for stocks and bonds because we have no 
appropriation bill in place, and that has cost United States taxpayers 
about $10 million on the first day of this stalemate.
  Then there are the hundreds of thousands of employees that have their 
house payments, their car payments and additional real facts of life 
that they have to be able to carry out to exist. This dispute has gone 
on long 

[[Page S 17481]]
enough and we can simply put an end to it.
  Another course is to bring back the earlier continuing resolution, 
move for its reconsideration, amend it, and then send it to the 
President. The President should be given the opportunity to sign a 
clean continuing resolution.
  Let me tell you why I think it is important that the President of the 
United States make a statement agreeing with the 7-year balanced 
budget. Let me clarify, I do not believe I am alone on this side of the 
aisle. Each week, I have a group of constituents for breakfast, and I 
give them a small handout. It is not blown up and it is not fancy, but 
it is useful information and I would like to try to explain it here.
  One pie chart represents 1969 Federal outlays, and the other 
represents 1995 Federal outlays. So there is a 26-year interval between 
the two charts.
  In 1969, military outlays were 44.9 percent of all Federal outlays. 
Today, 26 years later, we see they are just 16.6 percent of all Federal 
outlays.
  We see where discretionary spending in 1969 was 21 percent of all 
Federal outlays. Today, it has dropped to 17 percent.
  Now I would like to turn to net interest on the debt, not gross 
interest, but net interest, which in 1969 represented 6.9 percent. 
Today, net interest is 14.5 percent of Federal outlays. So, in 26 
years, net interest on the debt has doubled as a share of Federal 
outlays.
  We also see the major problem. We see entitlements at 26.9 percent of 
all Federal outlays in 1969 now exceeding the military budget, to 51.8 
percent. So that today, in 1995, in terms of Federal outlay dollars, 66 
percent of those dollars comprise entitlements and net interest on the 
debt.
  What has been predicted is that in the next 20 years, absent an 
effort to balance the budget, entitlements and net interest will absorb 
all of that, leaving a crushing burden of debt on those who follow us.
  That is really the message of why a balanced budget is so important, 
and why a 7-year balanced budget, I believe can be reached.
  In the reconciliation bill, once we get to it, we have to resolve 
conflicting priorities, and I think that is where there are differences 
on both sides of the aisle. But, I believe those differences can be 
met.
  I listened to Senator Chafee, whom I greatly respect, speak yesterday 
afternoon on this floor on some of the changes that could be made in 
Medicare. I happen to agree with the Republican premium levels on 
Medicare. I also happen to strongly disagree with the Republicans on 
what they have done with quality care involving the poorest Medicare 
recipients and the abolition of the Medicaid Program that would allow 
the poorest seniors to be able to pay their Medicare premiums and 
copayments through Medicaid.
  That is a point of difference. But I think reasonable people can sit 
down at the table and solve these problems, particularly if the 
majority is willing to delay a tax decrease.
  Many of us find egregious the fact----
  The PRESIDING OFFICER. The Senator's time has expired.
  Mrs. FEINSTEIN. Mr. President, I ask unanimous consent for an 
additional 30 seconds.
  The PRESIDING OFFICER. Without objection, it is so ordered. The 
Senator has an additional 30 seconds.
  Mrs. FEINSTEIN. Many of us find very egregious the fact that a $245 
billion tax decrease essentially drives deeper cuts in what I view as 
very vital, safety-net programs. So I would be hopeful that we could 
end the debate on the size and shape of the continuing resolution, pass 
a clean continuing resolution, send this resolution to the President, 
and I would urge him to sign it.
  I would then urge the parties to reach across the aisle and begin to 
discuss how we can resolve the differences in the reconciliation bill.
  I thank the President, and I yield the floor.
  The PRESIDING OFFICER. Under the previous order, the time in morning 
business is reserved for the Democratic leader.
  The Chair notes the absence over a quorum. The clerk will call the 
roll.
  The legislative clerk proceeded to call the roll.
  Mr. PRESSLER. Mr. President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  Mr. PRESSLER. Mr. President, I ask unanimous consent that, 
notwithstanding the previous order, I be permitted to speak for up to 7 
minutes.
  The PRESIDING OFFICER. Without objection, it is so ordered. The 
Senator from South Dakota is recognized.

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