(Mr. PAUL asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)
1997 Ron Paul 20:1
Mr. PAUL.
Mr. Speaker, I am very disappointed that so far in this Congress we have not yet seen any sincere effort to cut any spending. The latest ploy has been the Treasury report that claims the deficit is shrinking up to nothing. In the first 6 months of this year we are in deficit of $101 billion and this is claimed to be a victory, thus taking off the pressure to work harder to cut spending. How did they do this?
1997 Ron Paul 20:2
Well, the first thing we did was we sent the IRS agents out and hounded the American people and collected $28 billion more than they did in the first 6 months of the last fiscal year. But they did something else. They keep borrowing from the trust funds. They borrow from the Social Security fund, further jeopardizing that whole program. But if you look at the statistics more carefully, they claim the deficit is $111, but during the past 12 months our national debt went up $241 billion. And there is no way to predict what the next 6 months will bring. Interest rates may rise, revenues may dwindle if the markets and the economy slumps.
1997 Ron Paul 20:3
So I think that we ought to have some truth in lending and truth in legislating here by honestly telling the American people that there is something wrong here that could and should be adjusted with decreased spending, not raising taxes and not further robbing the Social Security trust fund, and I yield back the balance of my time.
Notes:
1997 Ron Paul Chapter 20
Ron Paul begins his one-minute address at 10:24:31 local time and begins saying that he yields back the balance of his time, at 10:25:56 local time.
1997 Ron Paul 20:2
Ron Paul says, "Well, the first thing, and Congressional Record omits Well. See the C-Span video, at 10:24:58 local time.
Ron Paul says, But if you look, and Congressional Record misquotes him as saying Looking. This may have been an intentional misquote, done because the Congressman must address the speaker.
Ron Paul says, And there is no way, and Congressional Record omits And. See the C-Span video, at 10:25:28 local time.
1997 Ron Paul 20:3
Ron Paul says, So I think, and Congressional Record omits So. See the C-Span video, at 10:29:37 local time.
Ron Paul’s closing words, and I yield back the balance of my time are omitted from Congressional Record. See the C-Span video, at 10:25:56 local time.
