[Congressional Record (Bound Edition), Volume 150 (2004), Part 1]
[House]
[Page 528]
[From the U.S. Government Publishing Office, www.gpo.gov]




                                DEFICIT

  (Mr. PITTS asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. PITTS. Mr. Speaker, budget projections can be wrong. They often 
are. But I am also particularly concerned about the CBO report that 
forecast a several-trillion dollar deficit over the next 10 years. That 
is the highest level as a percentage of GDP since World War II.
  To be clear, this deficit is driven by spending. We did what we had 
to do to protect our homeland and give our troops the support they need 
in the war on terror. But we also spent a lot more in other nondefense 
areas; and when we add increased government spending to an economic 
slowdown and the 9-11 attacks, we get deficits. There is no way around 
it.
  Fortunately, the tax relief passed by this Congress and signed by the 
President has stimulated our economy. Now we have to turn our attention 
to getting government spending under control. We need to tighten our 
belts a little around here and do the right thing. We should freeze 
spending and balance the budget as early as we can. We need to get to 
work to cut the deficit, cut spending, and balance the budget.

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