[Congressional Record Volume 142, Number 6 (Wednesday, January 10, 1996)]
[Senate]
[Page S127]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                           A BALANCED BUDGET

  Mr. WARNER. Mr. President, I thank my distinguished colleague. Again, 
I commend him for his leadership throughout this period. That does 
provide, hopefully, a measure of reassurance.
  This Senator is a very strong proponent and adherent to the concept 
of the 7-year balanced budget using the CBO figures. That is the 
cornerstone, because it is imperative that we redirect this Nation on a 
course of less Federal spending.
  I shall not go into more philosophical points here. I align myself 
with the distinguished majority leader and the majority whip. You have 
led this side of the aisle in working with the other side to reach a 
resolution of this matter. So I am philosophically attuned and in full 
agreement with our leadership here. But I am concerned, again, about 
the economic impact here in the area that I represent.
  I also must say, Mr. President, and I say to our distinguished 
leader, I am concerned about the national financial situation.
  Mr. LOTT. Yes.
  Mr. WARNER. Our financial markets--stocks, bonds, commodities and the 
like--are following this debate closely. The continued ability of this 
country to borrow, both domestically and internationally, at a 
reasonable rate of interest, depends on the resolution of this matter. 
So, while two Senators, and perhaps there are others who will join, can 
give some measure of reassurance at this time, I think only when final 
action is taken by the Congress and signed by the President of the 
United States, can we regain the full confidence of the various 
financial institutions which are keenly aware of the actions taken here 
in the Congress.
  So, I thank my distinguished leader, I thank the Senator from North 
Dakota. I yield the floor.
  The PRESIDING OFFICER. The Senator from North Dakota is recognized.

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