[Congressional Record Volume 144, Number 55 (Wednesday, May 6, 1998)]
[Extensions of Remarks]
[Page E776]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  BUDGET SURPLUS HIGHER THAN EXPECTED

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                            HON. RON PACKARD

                             of california

                    in the house of representatives

                         Wednesday, May 6, 1998

  Mr. PACKARD. Mr. Speaker, just yesterday the Congressional Budget 
Office (CBO) released new figures that show that the budget surplus for 
this year will be between $43 and $63 billion--drastically higher than 
the $18 billion surplus that was predicted after last summer's historic 
balanced budget agreement. This is one more indication of what we can 
achieve with a Republican-led Congress that is dedicated to ending 
wasteful and irresponsible government spending.
  As a member of the House Appropriations Committee, I would like to 
applaud my colleagues for making the balanced budget and this 
substantial surplus a reality. Appropriations is the only committee 
with a direct impact on spending and the federal budget. Under Chairman 
Bob Livingston's (R-LA) leadership, we have fundamentally changed the 
way Washington spends its money. Since taking control of Congress, 
Republicans have effectively eliminated 307 outdated and unneeded 
programs, streamlining government and making it more accountable to the 
American taxpayer.
  Fueled by the American entrepreneurial spirit, our growing economy 
has been a fundamental partner in this accomplishment. Mr. Speaker, I 
take pride in the new figures for the budget surplus and applaud those 
Americans, from homemakers to small business owners, who have helped 
make it happen. These individuals are the ones who know best what to do 
with surplus dollars, not bureaucrats in Washington. I urge the 
Administration and my colleagues in Congress to do the right thing with 
the surplus: send it back to the public through tax relief and debt 
reduction.

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