[Congressional Record (Bound Edition), Volume 145 (1999), Part 3]
[House]
[Page 4060]
[From the U.S. Government Publishing Office, www.gpo.gov]




            CONGRESS RENEWS PLEDGE TO ABIDE BY SPENDING CAPS

  (Mr. GUTKNECHT asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. GUTKNECHT. Mr. Speaker, just 4 years ago when they unveiled their 
budget, the administration acknowledged that we would see $200 billion 
deficits well into the next century. But the new Republican Congress 
said that that was unacceptable. Against the shrill cries of our 
friends on the left, we reformed welfare, saved Medicare, eliminated 
over 400 Federal programs, and cut the growth in Federal spending by 
more than half. Today our budget is balanced and we can look forward to 
a decade of surpluses. We can now begin to tackle the great issue of 
our generation, saving Social Security, if, if only we continue to 
exercise the fiscal discipline begun with the balanced budget 
agreement.
  Unfortunately the President in his budget reneges on the spending 
caps. I am happy to report today that the congressional leaders have 
said that they will renew their pledge to abide by those spending caps. 
This means that we can secure every penny of Social Security taxes only 
for Social Security. It also means that American families can expect 
lower interest rates and a stronger economy well into the next century.

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