[Congressional Record Volume 142, Number 55 (Thursday, April 25, 1996)]
[Extensions of Remarks]
[Page E647]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     THE PRESIDENT'S LEGACY OF DEBT

                                 ______


                            HON. RON PACKARD

                             of california

                    in the house of representatives

                        Thursday, April 25, 1996

  Mr. PACKARD. Mr. Speaker, under President Clinton's spending 
policies, the national debt will increase by more than $1.1 trillion--
rising from $4.1 trillion in January 1993 to $5.2 trillion in December 
1996. By failing to balance the budget in 5 years as he promised, this 
legacy of debt means higher mortgage, car and student loan payments for 
working families.
  My Republican colleagues and I have put the brakes on out-of-control 
Federal spending. We have cut Government beyond targets set by the 
budget resolution--this means a savings of $23 billion to the hard 
working American taxpayer. We have terminated hundreds of wasteful 
government programs and provided offsets to pay for disaster 
assistance. Since January, 1995, when Republicans gained control of 
Congress, my colleagues and I have saved taxpayers $43 billion.
  These numbers are proof that we are doing what we promised the 
American people--we are committed to balancing the budget in 7 years. 
While the President fights to maintain the status quo and bloated 
bureaucracies, my colleagues and I are fighting to relieve the American 
taxpayer.
  My Republican colleagues and I support policies that help America's 
hard working families earn more and keep more of what they earn. This 
ensures they will have more time to do more for themselves, their 
children, their church, and their community.

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