[Congressional Record Volume 141, Number 206 (Thursday, December 21, 1995)]
[Extensions of Remarks]
[Page E2437]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                 THE ``REAL FRIEND'' OF U.S. EDUCATION

                                 ______


                           HON. DOUG BEREUTER

                              of nebraska

                    in the house of representatives

                      Thursday, December 21, 1995

  Mr. BEREUTER. Mr. Speaker, this Member highly commends to his 
colleagues the following editorial from the December 13, 1995, edition 
of the Norfolk Daily News.

              [From the Norfolk Daily News, Dec. 13, 1995]

                 The ``Real Friend'' of U.S. Education

       Who is helping education in the United States more?
       President Clinton, is resisting Congress' balanced-budget 
     plan, says that federal lawmakers are being too zealous in 
     cutting government education programs. By resisting those 
     cuts, the president said he's making a strong strand for 
     education.
       Members of Congress, on the other hand, say their budget 
     plan does much more for education in the United States by 
     providing all American families with a $500-per-child tax 
     credit--even if some current government education programs 
     are reduced in scope.
       So, who's right?
       We'll side with Congress on this one.
       Consider this. If an average American family saved the 
     entire $500-per-child tax credit for a period of 18 years and 
     invested it, that same family would be able to accumulate an 
     amount of money equal to what $14,000 buys today. That's a 
     long way toward paying the cost of education at a public 
     university.
       Or, that same American family would be able to use the tax 
     credit to pay a portion of tuition at a typical private 
     elementary school.
       What's more, Congress' balanced-budget plan--if passed--
     would cause interest rates to drop by at least one-half 
     percentage point. That kind of reduction in rates would save 
     a student more than $400 on the cost of an average student 
     loan. That kind of money can pay for books, some tuition 
     costs or a big portion of a personal computer.
       The reality is that Congress' plan would cut less than 2 
     percent per year during the next seven years from a federal 
     education budget that represents only a tiny fraction of the 
     total amount of dollars spent on education in the United 
     States, according to figures from the Heritage Foundation in 
     Washington, D.C.
       So, here's the real choice: Cut a tiny portion of a budget 
     that itself is a small fraction of America's educational 
     effort or deny 28 million American families a financial gain 
     that would help provide for a better education for their 
     children.
       We shouldn't have to struggle long on this one. We hope 
     President Clinton realizes the same, too.

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