[Congressional Record (Bound Edition), Volume 152 (2006), Part 13]
[Extensions of Remarks]
[Page 17582]
[From the U.S. Government Publishing Office, www.gpo.gov]




                    ACCOUNTABLE BUDGETING COMMISSION

                                 ______
                                 

                          HON. ANDER CRENSHAW

                               of florida

                    in the house of representatives

                      Thursday, September 7, 2006

  Mr. CRENSHAW. Mr. Speaker, in 1967 the Federal Government spent just 
over $157 billion and operated with a deficit that was under $9 
billion. Today, almost 40 years later, the Federal Government spends 
approximately $2.7 trillion and has a $260 billion deficit.
  The Federal Government's total spending and oversight has vastly 
changed from the 1960s, yet it still operates under the basic 
accounting rules established 40 years ago by President Lyndon Johnson's 
Commission on Budget Concepts.
  Just as an engine of a 1967 Cheverolet Impala would be an automotive 
disaster in a 2006 Toyota Prius, our economic policies suffer today 
because we are using outdated concepts and antiquated accounting 
practices.
  Today, I am introducing the Accountable Budgeting Commission. This 
needed legislation will provide the long overdue review of the 
underlying concepts that are impairing our ability to properly and 
effectively analyze and understand the issues we face in the 21st 
century.
  This Commission will provide the necessary oversight and make 
recommendations on ways to modernize our basic budgetary principles as 
Congress brings more accountability and transparency to the budget 
process.
  I look forward to working with my colleagues on this important and 
long overdue legislation.

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