[Congressional Record Volume 141, Number 204 (Tuesday, December 19, 1995)]
[House]
[Page H15103]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




[[Page H15103]]


                 THE MUCH BALLYHOOED BUDGET ACT OF 1995

  (Mr. TAYLOR of Mississippi asked and was given permission to address 
the House for 1 minute.)
  Mr. TAYLOR of Mississippi. Mr. Speaker, in a number of nationwide 
publications the Republican National Committee ran the following ad:

       The Republican National Committee will present a cashier's 
     check for $1 million to the first American who can prove the 
     following statement is false: In November of 1995, the U.S. 
     House and Senate passed a balanced budget bill.

  On December 14, the Congressional Budget Office sent my office this 
letter, and the last line of it says it all: ``CBO's baseline 
projection for the general fund deficit for the fiscal year 1996 is 
likely to be $270 billion.'' That includes $100 billion that will be 
stolen from trust funds like the Social Security trust fund.
  So the much ballyhooed Balanced Budget Act, so-called, of 1995 really 
should have been stamped like this: ``Certified $270 billion deficit by 
the Congressional Budget Office.''
  Mr. Barbour, I am on the way to your headquarters. Break out your 
checkbook, make the check out to the University of Southern Mississippi 
development fund.

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