[Congressional Record Volume 154, Number 44 (Friday, March 14, 2008)]
[Extensions of Remarks]
[Page E412]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


[[Page E412]]
        CONCURRENT RESOLUTION ON THE BUDGET FOR FISCAL YEAR 2009

                                 ______
                                 

                               speech of

                         HON. CHRIS VAN HOLLEN

                              of maryland

                    in the house of representatives

                        Thursday, March 13, 2008

       The House in Committee of the Whole House on the State of 
     the Union had under consideration the concurrent resolution 
     (H. Con. Res. 312) revising the congressional budget for the 
     United States Government for fiscal year 2008, establishing 
     the congressional budget for the United States Government for 
     fiscal year 2009, and setting forth appropriate budgetary 
     levels for fiscal years 2010 through 2013:

  Mr. VAN HOLLEN. Mr. Chairman, I rise in support of this budget 
blueprint for the priorities it sets and the fiscal sanity it restores 
to our Nation's Capitol.
  Seven years after President Bush inherited a projected 10-year $5.6 
trillion year budget surplus, the Congressional Budget Office now 
reports that the FY 08 budget deficit will be $396 billion and the FY 
09 budget deficit will total $342 billion. These are the second and 
fourth largest budget deficits in U.S. history. Not coincidentally, the 
first and third largest budget deficits in U.S. history were also 
recorded during the Bush administration.
  During the same period, our national debt has exploded by $3.9 
trillion to well over $9 trillion--or more than $30,000 for every 
citizen in the United States. In fact, each taxpayer is now paying over 
$3000 every year just to pay the interest on their share of the 
national debt.
  Astonishingly, this budget deterioration has coincided with dangerous 
disinvestment in our Nation's health, education, public safety, energy 
independence, veterans and basic scientific research--among other 
critically important priorities.
  This budget document changes all that. It rejects the President's 
misguided cuts in health care for seniors and lower-income citizens. It 
increases our national investment in education and lifelong job 
training. It restores funding for State and local law enforcement. It 
prioritizes the development of next generation renewable energy and 
energy efficiency technologies. It spares veterans the President's 
proposed fee increases for health care they have rightfully earned. And 
it provides robust funding for the Democratic innovation agenda to 
enhance our Nation's position in the global marketplace.
  Importantly, this budget accomplishes these objectives while 
providing middle class tax relief to millions of hard-working Americans 
by patching the Alternative Minimum Tax and extending the child tax 
credit, marriage penalty relief and the 10 percent income tax bracket. 
Consistent with the PAYGO rules adopted by this House, this document 
achieves these public policy goals with no new deficit spending. And it 
brings our budget into balance in 2012.
  Mr. Chairman, this budget represents a properly prioritized, fiscally 
responsible blueprint for the Nation's future. I urge its adoption and 
encourage my colleagues' support.

                          ____________________