[Congressional Record Volume 141, Number 204 (Tuesday, December 19, 1995)]
[House]
[Page H15100]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           BUDGET IMPASSE TO BLAME ON STOCK MARKET PLUMMETING

  (Mr. KOLBE asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. KOLBE. Mr. Speaker, yesterday, the stock market plummeted by over 
100 points. That is the biggest drop in nearly 4 years on a single day. 
I do not think we need to ask why. Investors, market analysts, traders, 
economists and, yes, common folks that buy and sell stocks are telling 
us why. They are worried that for the first time that this budget 
impasse is going to continue. They thought we were going to have a 7-
year balanced budget. They thought at the end we would get that. But 
now they see the intransigence of this President; that we may not 
actually get a 7-year balanced budget, and they know what that means.
  It means that we are talking about higher interest rates. It is the 
American family that will suffer. They will be paying more for their 
automobile. They will be paying more for their children's education. 
They will be paying more for their mortgage because we cannot get a 7-
year balanced budget. We cannot do what we have to do in order to get 
interest rates down so that American families can thrive; and so that, 
yes, those CEO's somebody was talking about earlier can make jobs for 
Americans.
  That is what this budget is all about. It is for our future. It is 
for our children's future and we should do it now.

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