[Congressional Record Volume 142, Number 9 (Wednesday, January 24, 1996)]
[House]
[Page H780]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




            PROSPERITY AND FUTURE OF AMERICA'S YOUNG PEOPLE

  (Mr. COLLINS of Georgia asked and was given permission to address the 
House for 1 minute.)
  Mr. COLLINS of Georgia. Mr. Speaker, the majority of this Congress 
passed a 7-year plan to balance the Federal budget. Our plan will zero 
out deficit spending by the year 2002. But, Mr. Speaker, at the end of 
those 7 years our accumulated debt will be over $6 trillion. If 
Congress reduces that $6 trillion debt by $200 billion per year 
beginning in the year 2003, it will then take 30 years to pay off the 
principal; 30 years, Mr. Speaker, at $200 billion per year for 30 
years. Even at that rate, it will be the year 2033 before we pay off 
the $6 trillion debt.
  Mr. Speaker, the next two generations of working taxpayers will pay 
the bill. We must end wasteful spending now. And, Mr. Speaker, is the 
fight to retain power in Washington important enough to risk the 
prosperity and future of our young people? No, Mr. Speaker, it is not.

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