[Congressional Record Volume 154, Number 20 (Thursday, February 7, 2008)]
[House]
[Page H626]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  BUSH BUDGET HAS MISPLACED PRIORITIES

  (Mr. McNERNEY asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. McNERNEY. Mr. Speaker, our national budget should invest in our 
future. Unfortunately, the President's final budget is more of the 
same, missed opportunities and misplaced opportunities.
  The President's budget is fiscally reckless, adding $1.6 trillion in 
deficit over the next 5 years instead of becoming balanced over that 
same period. But you won't hear that from the President. He claims that 
the budget is balanced by 2012, but that is only because he leaves out 
enormous costs, including the 5-year cost of fixing the alternative 
minimum tax and the full cost of the Iraq war.
  When realistic costs are included, the budget runs into significant 
deficits over each of the next 5 years. This, unfortunately, is more of 
the same. The President took a 10-year surplus of $5.6 trillion that he 
inherited and turned it into a $3.6 trillion deficit. This budget 
continues down the same path by borrowing from our children and 
grandchildren.
  Mr. Speaker, Democrats can simply not afford this fiscal 
recklessness. In the coming months, we will present a fiscally 
responsible budget that meets our pay-as-you-go requirements.

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