[Congressional Record Volume 149, Number 2 (Wednesday, January 8, 2003)]
[Extensions of Remarks]
[Pages E7-E8]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        BALANCED FEDERAL BUDGET

                                 ______
                                 

                          HON. JO ANN EMERSON

                              of missouri

                    in the house of representatives

                        Tuesday, January 7, 2003

  Mrs. EMERSON. Mr. Speaker, this afternoon I fulfill the pledge I made 
to the citizens of southern Missouri to introduce and work tirelessly 
to pass an amendment to the Constitution of the United States, that 
requires a balanced Federal budget. Over the course of the past several 
decades, fiscal irresponsibility has produced a Federal debt that is 
fast approaching $5 trillion. That's trillion, with a `t,' Mr. Speaker. 
A debt of $5 trillion is a mind-boggling figure, but it can be placed 
in a much clearer perspective. A child born today immediately inherits 
nearly $20,000 of debt, owed directly to Uncle Sam. The same is true 
for every American. The era of continuing annual budget deficits must 
end, and it is clear that the only way to restore conservative fiscal 
values to the Nation's budget is to pass the balanced budget amendment 
to the Constitution.
  The stakes in this debate could not be more important. The fiscal 
future of the United States hinges on the ability of Congress and the 
President to make the difficult choices required to balance the Federal 
budget. It's more than debating trillion dollar figures. It's about 
making our economy stronger and providing every working American family 
with a better chance to make ends meet. A balanced budget will 
strengthen every sector of our economy with lower interest rates that 
will help families stretch each paycheck further. Home mortgages, 
automobiles, and a better education will become more affordable to 
every working family, making the American Dream closer to reality for 
all.
  Mr. Speaker, I am committed to working with my colleagues in the new 
Congress to see that the balanced budget constitutional amendment is 
passed and sent to the States for ratification. A constitutional 
amendment is certainly no substitute for direct action on the part of 
the Congress. However, we have seen time and time again instances where 
those who object to conservative fiscal responsibility

[[Page E8]]

find convenient excuses to deny the American people a balanced budget. 
An unbreakable enforcement mechanism is clearly needed to ensure that 
those who would continue to spend our children's future further into 
debt are not able to do so.
  I also want to make plain that the Social Security trust fund has no 
place in this debate. The independent trust fund is a sacred trust 
between generations and must never be used to balance the budget or 
hide the true size of the deficit.
  Commonsense conservatives in Congress and the American people are 
committed to balancing the budget. I look forward to working throughout 
this session with all of my colleagues and the White House to pass the 
balanced budget constitutional amendment on a bipartisan basis. The 
obligations we owe to hard working American families, their children, 
and our Nation's future generations deserve nothing less than decisive 
action to preserve our future by balancing the budget. A constitutional 
amendment will ensure this outcome.

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