[Congressional Record Volume 156, Number 111 (Tuesday, July 27, 2010)]
[House]
[Page H6051]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          HISTORY AND POLICIES

  (Mr. MORAN of Virginia asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. MORAN of Virginia. Madam Speaker, we have been going back and 
forth between the Republican and Democratic sides with two views of 
history and two policies.
  The Republican Party has argued all morning, and it will continue 
right through the election, that we should go back to the Reagan-Bush 
policies of the past and the Democrats want to try a new approach. But 
let's just review the history.
  Ronald Reagan ran for President saying that any President who doesn't 
balance the budget should be impeached, and yet for 8 years he never 
once submitted a balanced budget, and, in fact, quadrupled the deficit. 
Bill Clinton came into office, adopted the suggestion of President 
George Herbert Walker Bush, the 41st President, that you should have a 
concept called PAYGO. The first President Bush may have lost an 
election as a result, but it was the right thing to do.
  Bill Clinton adopted the PAYGO concept as his own and made sure that 
any new spending was offset with additional revenue and for any tax 
cuts we were prepared to cut spending proportionately. It worked.
  We created surpluses, so many surpluses, in fact, that Alan Greenspan 
was worried we had too much Treasury debt floating out there. The 
reality is that this past President's policy that the Republicans would 
want us to go back to, took a $5.6 trillion projected Clinton surplus 
and turned it into $3.5 trillion of Bush's legacy of debt. Is that what 
the American people really want to see repeated? I don't think so.

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