[Congressional Record Volume 145, Number 110 (Friday, July 30, 1999)]
[House]
[Page H6726]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




  CHAIRMAN GREENSPAN SAYS ``MOVING ON TAX FRONT MAKES A GOOD DEAL OF 
                                SENSE''

  (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, Federal Reserve Chairman Alan 
Greenspan recently testified in a way that my colleagues will never 
ever hear quoted by the other side. In fact, none of the mainstream 
newspapers appear to see fit to publish this portion of his remarks, 
save, of course, for the Wall Street Journal editorial page.
  Chairman Greenspan said that he would delay tax cutting unless, and 
here is the key part, ``unless, as I've indicated many times, it 
appears that the surplus is going to become a lightning rod for major 
increases in outlays. That's the worst of all possible worlds, from a 
fiscal policy point of view, and that, under all conditions, should be 
avoided.''
  In other words, Mr. Speaker, Chairman Greenspan is saying get the 
money out of Washington before the liberals spend it. Give it back to 
the people.
  He goes on from there to say, ``moving on the tax front makes a good 
deal of sense to me.'' Those are the actual words of Chairman 
Greenspan, not the spin of the White House or the distortions of those 
on the other side who are forgetting to include the critical portion of 
the Federal Reserve Chairman's remarks.

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