[Congressional Record Volume 144, Number 20 (Wednesday, March 4, 1998)]
[House]
[Pages H760-H761]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                             BUDGET SURPLUS

  (Mr. WELDON of Florida asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. WELDON of Florida. Mr. Speaker, the Congressional Budget Office, 
known in Washington as the CBO, announced yesterday that the Federal 
budget is expected to have a surplus of $8 billion this year. That will 
be the first time in Washington there has been a balanced budget since 
1969, 29 years ago.
  Now, of course the liberals will be happy to have a surplus because 
they want to take that money and spend it on new programs and bigger 
social programs from Washington, D.C. Conservatives will be happy 
because they want to pass more tax cuts so that the middle class can 
keep more of their money.
  Demagogues will be happiest of all, because they can tell more lies 
about

[[Page H761]]

protecting Social Security, knowing full well that Social Security is a 
pay-as-you-go system with the money going out as fast as it comes in. 
They are counting on the fact that most people will have no idea 
exactly how a pay-as-you-go system works.
  But American taxpayers should be the happiest of all, because a 
balanced budget means lower interest rates, which means people can buy 
houses more easily, and cars. It is a good day for the American people.

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