[Congressional Record (Bound Edition), Volume 145 (1999), Part 4]
[House]
[Pages 4658-4659]
[From the U.S. Government Publishing Office, www.gpo.gov]




          PRESIDENT'S BUDGET PROPOSAL WILL NOT WIN ANY AWARDS

  (Mr. TANCREDO asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. TANCREDO. Mr. Speaker, it is perhaps the old teacher in me, but 
whenever I see something like a budget proposal that has been submitted 
by the President, I want to give it a grade. And I am afraid, Mr. 
Speaker, that this President's budget proposal will not win any 
accounting awards.

                              {time}  1030

  It will never be used in any economics class unless to show students 
just

[[Page 4659]]

how slippery a politician can be with retirement money.
  The President's budget proposal for Social Security contains more 
phoney numbers than a Millie Vanilli soundtrack. $2.4 trillion in 
double counting. That is even more double counting than the 
administration's unconstitutional census sampling scheme. And it gets 
worse from there, Mr. Speaker.
  GAO and CBO are both on record stating that the President's proposal 
for Social Security might actually make the problem worse. The problem, 
of course, is that the baby-boomers will soon retire and Social 
Security will greet that event by going belly up faster than can you 
say Jeff Gordon.
  Seniors deserve better. Instead of reassuring seniors that Social 
Security will be put on a sounder financial footing, the President's 
proposal sends a message that the politicians will have to deal with 
the mess after he is gone. The President's Social Security proposal 
gets an F.

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