[Congressional Record Volume 141, Number 196 (Monday, December 11, 1995)]
[House]
[Page H14244]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       REACHING A BALANCED BUDGET

  (Mr. SCHIFF asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. SCHIFF. Mr. Speaker, last Wednesday the President of the United 
States vetoed a proposed balanced budget submitted by the Congress of 
the United States. It was of course the President's legal right and 
prerogative to vote this bill, not only under the Constitution but 
under the recent agreement between Congress and the President, if the 
President felt that the budget did not adequately fund certain 
programs.
  On Thursday the President submitted back to Congress his own proposed 
balanced budget. Unfortunately, I have to say that I believe the 
administration in this case did not comply with our recent agreement.
  Our agreement called for a balanced budget in 7 years, which the 
administration did comply with using the economic forecasts, in this 
case meaning projected government revenue by the Congressional Budget 
Office. Instead, the President's budget submitted last Thursday uses 
the economic forecasts of his own Office of Management and Budget. 
Their projections are as much as $400 billion in more government 
revenue over 7 years than the Congressional Budget Office.
  The point, however, is not to debate between the two. That has 
already been settled. In the recent agreement, the President and the 
Congress both agreed to use the Congressional Budget Office for 
economic forecasts.
  Therefore, I respectfully call upon the administration to introduce a 
new budget of 7 years in duration with the use of the Congressional 
Budget Office economic forecast for Government revenue so that the two 
budgets can be compared side-by-side, the budget of the Congress and 
the budget of the President of the United States, so that negotiations 
can begin on a level playing field between them and so that the 
American people can decide on a common yardstick which priorities they 
prefer.

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