[Congressional Record Volume 146, Number 136 (Thursday, October 26, 2000)]
[Senate]
[Page S11104]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      GOVERNOR BUSH'S TAX PROPOSAL

  Mr. HARKIN. Mr. President, an article appeared today in the 
Washington Post, Thursday, October 26, 2000, in which the American 
Academy of Actuaries, a respected nonpartisan organization of financial 
and statistical experts, reported Governor Bush's plan to cut taxes and 
divert Social Security payroll taxes to establish individual accounts 
would make it all but impossible to eliminate the publicly held 
national debt.
  It is interesting. Ari Fleischer, a Bush spokesman, faulted the study 
because it relied on growth estimates contained in a recent 
Congressional Budget Office report that projected long-term budget 
trends. He said that this assumes growth ``at an unusually low level'' 
past 2010.
  Wait a minute. The Congressional Budget Office is run by the 
Republicans, not by the Democrats.
  Lastly, this report said ``counting his taxes and individual 
accounts, Bush is very much overspending Gore.''
  I ask, in this campaign who is really the big spender? Obviously, it 
is Gov. George Bush of Texas. Don't take my word for it. Take the word 
of the American Academy of Actuaries for it.
  I yield the floor. I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The legislative clerk proceeded to call the roll.
  Mr. LOTT. Mr. President, I ask unanimous consent that the order for 
the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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