[Congressional Record Volume 146, Number 11 (Wednesday, February 9, 2000)]
[Senate]
[Pages S510-S511]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
THE PRESIDENT'S BUDGET
Mr. DURBIN. Mr. President, the topic this morning for our morning
business is the President's budget, a budget released by the President
several days ago that is a continuation of a strategy of the past 7
years, a strategy which has paid off for America. There are those who
have rejected this budget. There are those who have said it is a
disaster. There are those who have used the timeworn cliche that the
President's budget is dead on arrival. For those who want to use this
medical analogy, let me remind them of another medical admonition:
First, do no harm. Those who would criticize the President's budget
should come up with their alternative. Let them see if they can match
the performance of the Clinton administration over the last 7 years.
Let them come up with a formula that is sensible, that will move this
country forward as quickly and as positively as President Clinton's
plans have during the course of his administration.
His budget says we have a strategy based on fiscal discipline, a
strategy which will bring down the national debt and say to our
children: We will not saddle you or burden you with debt that we
incurred during our lifetime for our purpose.
That is the linchpin and pillar of the President's budget, and it is
sound. It is sound for our future.
The President says that as we bring down this national debt, we will
preserve Social Security so it is there not only for the current
retirees, but the baby boomers and beyond. We will invest in Medicare,
an issue which many Republicans do not even want to discuss. We will
make certain that the health insurance plan for the elderly and
disabled in America is adequately funded and the doctors, hospitals,
and health care providers across America know that Medicare has a
bright future.
The Nation is witnessing the first back-to-back budget surpluses in
43 years, the smallest welfare rolls in 30 years, the lowest overall
crime rate in 25 years, the lowest unemployment rate in 30 years. The
statistics go on and on.
Whether it is a Presidential candidate or a Member of Congress who is
critical of President Clinton's budget and approach, my challenge to
them is: How would you do it better? What can we look to in history to
point to a better model than what we have seen over the past 7 years?
We reached a milestone in America's economic history. Our economic
expansion is the longest, a remarkable 107 months of consecutive
growth. In fact, it was reported yesterday that we have had
productivity growth of 5 percent. America is on a roll, and those who
would derail it for their own political purposes had best step back and
think twice.
There are clearly differences which I will have with the President on
specifics in the budget. There are differences which will come out
during the course of the congressional debate, but whether they come
from the Democratic side or Republican side, let us not lose sight of
our goal.
Alan Greenspan, as Chairman of the Federal Reserve Board, last year
spoke to several committees in Congress--and he continues to do that--
and admonished us to keep in mind the basic things we need to do as a
nation to continue to progress. Bringing down the national debt is his
highest priority.
President Clinton's budget invests money in those things that will
keep this economy moving forward--in the people of America. He has not
given up on the families and people who have made this economic
recovery such a reality.
He is investing in education so the next generation of skilled
workers and leaders will be there. He is investing in health care to
take away one of the major concerns of every family in America:
affordability of quality health care.
Yes, the President does have a tax cut plan, but it is a targeted,
specific tax cut plan--not the broad-based, overwhelming plan which we
hear from Presidential candidate George W. Bush or some leaders in
Congress, but one that is more sensible, more targeted, more consistent
with maintaining our economic growth.
The President says families worry about paying for college education;
let's help them; let's give them a deduction for college education
expenses. In doing that, we will start to enable more and more young
people to realize their dream of a college education and pass it along
to their children. Is there anything more important for the future of
our country?
The President says as well there should be a tax credit for long-term
care for the fastest growing segment of the American population--people
over the age of 85, our parents and our grandparents, many of whom will
need help in their advancing years. Their sons and daughters care about
them, and we need to help them with the long-term care tax credit.
The earned-income tax credit is a term with which many people are
not familiar, but it is a tax credit for working families who are not
making much money. We want to encourage work and help families, and the
President, focusing on the earned-income tax credit, leads us in the
right direction.
Of course, there are those who say if we are going to have a surplus
over the next 10 years, then the first thing we should do is give a
massive tax cut primarily to wealthy people. Yet we know quite honestly
that is irresponsible. The American people know that intuitively.
First, the surplus is not in hand and, second, to take whatever surplus
we have and give it away as a permanent tax cut is to say to people
across America that we do not need to pay down our national debt, we do
not need to invest in America's children and families. We do not need
to create tax cuts that are more targeted.
The President has it right. The President has said to the American
people: Let us not ruin a good thing; let us move forward.
There are many things with which we need to deal in this time of
prosperity which we may never have another chance to consider. If we
cannot at this moment in time reach out to the American society and
help those who are struggling with day-to-day problems in their family
and life, when will we ever do it?
If we cannot extend the protection of health insurance, as the
President has proposed, to children and families across America at this
moment in time, when will we do it? Those who are 55 years of age who,
frankly, may face retirement and loss of health insurance need to have
the option of buying into the Medicare plan.
Those who are already retired and the disabled who rely on Medicare
need to have the protection of a prescription drug plan, a benefit
which is common to almost every health insurance plan. The President
has said we can do that, consistent with reducing the national debt and
protecting Social Security as well as Medicare. There are certain
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things at this moment in time which we can do.
If we do not invest at this moment in time in education for future
generations, how shortsighted we are. My friends on the Republican side
of the aisle do not view the educational issue as many of us do. Their
idea of education is a voucher plan to help those who would send their
children to private schools.
I certainly can sympathize with these families struggling to do that.
My wife and I sent our kids to Catholic schools and I attended Catholic
schools. But our first obligation as a government is to the 90 to 95
percent of the students in public education, the kids in Minneapolis or
Chicago or Los Angeles or New York who want to have the very best
schools and the very best teachers.
The President has proposed money for teacher training to improve
their skills so they can continue to bring the next generation forward
well versed and well trained in the technology with which we are
dealing.
There were statistics given to us yesterday about some of the things
that have happened during the Clinton administration which are often
overlooked by the critics of the President's budget. Let me tell you
two or three which I think are amazing.
Record budget deficits have been erased. Do my colleagues know the
Congressional Budget Office suggested that this year we were going to
have a deficit of $455 billion? That was their projection when
President Clinton came to office. President Clinton came to Congress
and said: I have a plan that is going to turn this around. Instead of
deficits, we can move America forward.
Some of us believed the President was right. In fact, I voted for the
President's 1993 plan. There were Members of Congress running around
hollering, ``The sky is falling if the President's plan passes; it will
be nothing but a disaster.'' I invite those Members of Congress to look
out the window at the bright blue sky of our economic prosperity
because of the President's leadership in 1993, because Members of
Congress, all Democrats, and Vice President Gore, who cast the tie-
breaking vote, made a courageous decision. Some of my colleagues in the
House of Representatives lost their next election because of that vote.
If it is any comfort to them, they did the right thing for America, and
history has proven them right because instead of the anticipated $455
billion deficit this year, we are anticipating instead a surplus of
over $100 billion. What an amazing turnaround.
We have had the largest paydown of debt in the history of the United
States. Those who argue the Democrats are not fiscally responsible
cannot really say it at this moment because President Clinton's
leadership and the following of Members of Congress have led to the
paydown of more than $290 billion in debt over the last 2 years, and we
can continue to do that.
The President is right, this should be our highest priority. We
collect every single day in America $1 billion in taxes from
individuals and businesses and families to pay interest on our debt. If
we follow the President's lead and eliminate the publicly held debt, it
will dramatically reduce those interest payments, and that is good for
this country. That is money that can be spent on good programs for
education and health care and given back to families in the form of tax
cuts.
We have seen Government reduced and diminished in size. We have seen
as a percentage of the gross domestic product the percentage spent on
Government coming down. This is what America asked for; this is what
they received.
Of course, with the President's budget, there will be a great amount
of debate. The Congress will get its chance. The Republican leadership
in the House and Senate can come up with its work product and put it
next to the President's, and we can make our choice.
I will tell you this. It should be measured by one standard: Does it
meet the test of common sense? Will the proposals coming out of this
Republican Congress keep America moving forward? Can they explain to
families across America that we should break with a policy that has
done so much for so many in this country? I think they are going to be
hard pressed to do it. But it is the nature of our deliberative process
that they will have that opportunity.
Mr. President, at this time I am prepared to yield the floor and the
remainder of our morning business time to my colleague from the State
of Minnesota.
Mr. WELLSTONE. Mr. President, first of all, if it is all right with
my colleague from Illinois, I will speak on two matters. I thank him
for his eloquence. It turns out on some of the issues that my colleague
raised, we are not 100 percent in agreement, but I think Senator Durbin
is a Senator who speaks with sincerity and marshals his evidence for
his point of view. I think Democrats are very lucky to have him as a
Senator speaking for our party and for the country.
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