[Congressional Record (Bound Edition), Volume 146 (2000), Part 1]
[Senate]
[Pages 905-906]
[From the U.S. Government Publishing Office, www.gpo.gov]


[[Page 905]]

                         THE PRESIDENT'S BUDGET

  Mr. DURBIN. Mr. President, the topic this morning for our morning 
business is the President's budget, a budget released by the President 
several days ago that is a continuation of a strategy of the past 7 
years, a strategy which has paid off for America. There are those who 
have rejected this budget. There are those who have said it is a 
disaster. There are those who have used the timeworn cliche that the 
President's budget is dead on arrival. For those who want to use this 
medical analogy, let me remind them of another medical admonition: 
First, do no harm. Those who would criticize the President's budget 
should come up with their alternative. Let them see if they can match 
the performance of the Clinton administration over the last 7 years. 
Let them come up with a formula that is sensible, that will move this 
country forward as quickly and as positively as President Clinton's 
plans have during the course of his administration.
  His budget says we have a strategy based on fiscal discipline, a 
strategy which will bring down the national debt and say to our 
children: We will not saddle you or burden you with debt that we 
incurred during our lifetime for our purpose.
  That is the linchpin and pillar of the President's budget, and it is 
sound. It is sound for our future.
  The President says that as we bring down this national debt, we will 
preserve Social Security so it is there not only for the current 
retirees, but the baby boomers and beyond. We will invest in Medicare, 
an issue which many Republicans do not even want to discuss. We will 
make certain that the health insurance plan for the elderly and 
disabled in America is adequately funded and the doctors, hospitals, 
and health care providers across America know that Medicare has a 
bright future.
  The Nation is witnessing the first back-to-back budget surpluses in 
43 years, the smallest welfare rolls in 30 years, the lowest overall 
crime rate in 25 years, the lowest unemployment rate in 30 years. The 
statistics go on and on.
  Whether it is a Presidential candidate or a Member of Congress who is 
critical of President Clinton's budget and approach, my challenge to 
them is: How would you do it better? What can we look to in history to 
point to a better model than what we have seen over the past 7 years? 
We reached a milestone in America's economic history. Our economic 
expansion is the longest, a remarkable 107 months of consecutive 
growth. In fact, it was reported yesterday that we have had 
productivity growth of 5 percent. America is on a roll, and those who 
would derail it for their own political purposes had best step back and 
think twice.
  There are clearly differences which I will have with the President on 
specifics in the budget. There are differences which will come out 
during the course of the congressional debate, but whether they come 
from the Democratic side or Republican side, let us not lose sight of 
our goal.
  Alan Greenspan, as Chairman of the Federal Reserve Board, last year 
spoke to several committees in Congress--and he continues to do that--
and admonished us to keep in mind the basic things we need to do as a 
nation to continue to progress. Bringing down the national debt is his 
highest priority.
  President Clinton's budget invests money in those things that will 
keep this economy moving forward--in the people of America. He has not 
given up on the families and people who have made this economic 
recovery such a reality.
  He is investing in education so the next generation of skilled 
workers and leaders will be there. He is investing in health care to 
take away one of the major concerns of every family in America: 
affordability of quality health care.
  Yes, the President does have a tax cut plan, but it is a targeted, 
specific tax cut plan--not the broad-based, overwhelming plan which we 
hear from Presidential candidate George W. Bush or some leaders in 
Congress, but one that is more sensible, more targeted, more consistent 
with maintaining our economic growth.
  The President says families worry about paying for college education; 
let's help them; let's give them a deduction for college education 
expenses. In doing that, we will start to enable more and more young 
people to realize their dream of a college education and pass it along 
to their children. Is there anything more important for the future of 
our country?
  The President says as well there should be a tax credit for long-term 
care for the fastest growing segment of the American population--people 
over the age of 85, our parents and our grandparents, many of whom will 
need help in their advancing years. Their sons and daughters care about 
them, and we need to help them with the long-term care tax credit.
  The earned-income tax credit is a term with which many people are not 
familiar, but it is a tax credit for working families who are not 
making much money. We want to encourage work and help families, and the 
President, focusing on the earned-income tax credit, leads us in the 
right direction.
  Of course, there are those who say if we are going to have a surplus 
over the next 10 years, then the first thing we should do is give a 
massive tax cut primarily to wealthy people. Yet we know quite honestly 
that is irresponsible. The American people know that intuitively. 
First, the surplus is not in hand and, second, to take whatever surplus 
we have and give it away as a permanent tax cut is to say to people 
across America that we do not need to pay down our national debt, we do 
not need to invest in America's children and families. We do not need 
to create tax cuts that are more targeted.
  The President has it right. The President has said to the American 
people: Let us not ruin a good thing; let us move forward.
  There are many things with which we need to deal in this time of 
prosperity which we may never have another chance to consider. If we 
cannot at this moment in time reach out to the American society and 
help those who are struggling with day-to-day problems in their family 
and life, when will we ever do it?
  If we cannot extend the protection of health insurance, as the 
President has proposed, to children and families across America at this 
moment in time, when will we do it? Those who are 55 years of age who, 
frankly, may face retirement and loss of health insurance need to have 
the option of buying into the Medicare plan.
  Those who are already retired and the disabled who rely on Medicare 
need to have the protection of a prescription drug plan, a benefit 
which is common to almost every health insurance plan. The President 
has said we can do that, consistent with reducing the national debt and 
protecting Social Security as well as Medicare. There are certain 
things at this moment in time which we can do.
  If we do not invest at this moment in time in education for future 
generations, how shortsighted we are. My friends on the Republican side 
of the aisle do not view the educational issue as many of us do. Their 
idea of education is a voucher plan to help those who would send their 
children to private schools.
  I certainly can sympathize with these families struggling to do that. 
My wife and I sent our kids to Catholic schools and I attended Catholic 
schools. But our first obligation as a government is to the 90 to 95 
percent of the students in public education, the kids in Minneapolis or 
Chicago or Los Angeles or New York who want to have the very best 
schools and the very best teachers.
  The President has proposed money for teacher training to improve 
their skills so they can continue to bring the next generation forward 
well versed and well trained in the technology with which we are 
dealing.
  There were statistics given to us yesterday about some of the things 
that have happened during the Clinton administration which are often 
overlooked by the critics of the President's budget. Let me tell you 
two or three which I think are amazing.

[[Page 906]]

  Record budget deficits have been erased. Do my colleagues know the 
Congressional Budget Office suggested that this year we were going to 
have a deficit of $455 billion? That was their projection when 
President Clinton came to office. President Clinton came to Congress 
and said: I have a plan that is going to turn this around. Instead of 
deficits, we can move America forward.
  Some of us believed the President was right. In fact, I voted for the 
President's 1993 plan. There were Members of Congress running around 
hollering, ``The sky is falling if the President's plan passes; it will 
be nothing but a disaster.'' I invite those Members of Congress to look 
out the window at the bright blue sky of our economic prosperity 
because of the President's leadership in 1993, because Members of 
Congress, all Democrats, and Vice President Gore, who cast the tie-
breaking vote, made a courageous decision. Some of my colleagues in the 
House of Representatives lost their next election because of that vote. 
If it is any comfort to them, they did the right thing for America, and 
history has proven them right because instead of the anticipated $455 
billion deficit this year, we are anticipating instead a surplus of 
over $100 billion. What an amazing turnaround.
  We have had the largest paydown of debt in the history of the United 
States. Those who argue the Democrats are not fiscally responsible 
cannot really say it at this moment because President Clinton's 
leadership and the following of Members of Congress have led to the 
paydown of more than $290 billion in debt over the last 2 years, and we 
can continue to do that.
  The President is right, this should be our highest priority. We 
collect every single day in America $1 billion in taxes from 
individuals and businesses and families to pay interest on our debt. If 
we follow the President's lead and eliminate the publicly held debt, it 
will dramatically reduce those interest payments, and that is good for 
this country. That is money that can be spent on good programs for 
education and health care and given back to families in the form of tax 
cuts.
  We have seen Government reduced and diminished in size. We have seen 
as a percentage of the gross domestic product the percentage spent on 
Government coming down. This is what America asked for; this is what 
they received.
  Of course, with the President's budget, there will be a great amount 
of debate. The Congress will get its chance. The Republican leadership 
in the House and Senate can come up with its work product and put it 
next to the President's, and we can make our choice.
  I will tell you this. It should be measured by one standard: Does it 
meet the test of common sense? Will the proposals coming out of this 
Republican Congress keep America moving forward? Can they explain to 
families across America that we should break with a policy that has 
done so much for so many in this country? I think they are going to be 
hard pressed to do it. But it is the nature of our deliberative process 
that they will have that opportunity.
  Mr. President, at this time I am prepared to yield the floor and the 
remainder of our morning business time to my colleague from the State 
of Minnesota.
  Mr. WELLSTONE. Mr. President, first of all, if it is all right with 
my colleague from Illinois, I will speak on two matters. I thank him 
for his eloquence. It turns out on some of the issues that my colleague 
raised, we are not 100 percent in agreement, but I think Senator Durbin 
is a Senator who speaks with sincerity and marshals his evidence for 
his point of view. I think Democrats are very lucky to have him as a 
Senator speaking for our party and for the country.

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