[Congressional Record Volume 153, Number 34 (Wednesday, February 28, 2007)]
[House]
[Page H1980]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                THE PRESIDENT'S BUDGET AND NATIONAL DEBT

  (Mr. WALZ of Minnesota asked and was given permission to address the 
House for 1 minute.)
  Mr. WALZ of Minnesota. Mr. Speaker, President Bush recently released 
his seventh budget, and it is more of the same. The Bush 
administration's 2008 budget continues the same fiscal irresponsibility 
of the past 6 years, sending us spiraling ever further into debt while 
failing to address this Nation's critical issues.
  During this administration and past Republican-led Congresses, they 
took a 10-year surplus of $5.6 trillion left over from the Clinton 
administration and turned it into a $8.2 trillion deficit that 
mortgages our children's future. Despite the President's continuous 
promise to balance the budget by 2012, the current budget gets us no 
closer.
  Mr. Speaker, this budget is not only fiscally irresponsible, it is 
morally irresponsible. We should not be piling mounds of debt owed to 
foreign nations onto the backs of America's children, while giving 
massive tax cuts to the wealthiest few.
  Democrats are working to restore fiscal responsibility, economic 
prosperity for all and pay-as-you-go policy to the Federal budget. It 
is time the President joined us. The American people already have.

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