[Congressional Record Volume 142, Number 24 (Tuesday, February 27, 1996)]
[House]
[Page H1261]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      THE LOOMING ECONOMIC CRUNCH

  (Mr. BALLENGER asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. BALLENGER. Mr. Speaker, President Clinton has now been in the 
White House 3 years, 1 month, and 1 week. Under his watch, the national 
debt has gone up, taxes have gone up, and wages have remained stagnant. 
What is up should be down and what is down should be up.
  Some economists now predict that the economy is on the verge of a 
recession. I hope that they are wrong, but let's not fool ourselves. 
The Clinton administration has pursued economic and tax policies that 
slow growth and stifle commercial activity. High taxes discourage risk-
takers from expanding businesses, hiring new employees, or from 
starting new businesses.
  Since Clinton took over as President, economic growth has been anemic 
and clearly has not matched the expansion we saw under President 
Reagan.
  Americans are rightly concerned about a looming economic crunch 
caused by the antigrowth and pro-tax policies of the Clinton 
administration.

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