In Support of Reform of the Congressional Budget Process

IN SUPPORT OF REFORM OF THE CONGRESSIONAL BUDGET PROCESS -- (House of Representatives - March 08, 2006)

Mr. BISHOP of Georgia. Madam Speaker, I rise today with grave concern for our children and the deficit that Congress and this administration are passing on to them. How much is it? It depends on whether you rely on the President's budget or his financial report. The budget showed the deficit at $319 billion in 2005, while the more realistic financial report showed it at $760 billion, more than twice as large.

To make a long story short, the financial report of America uses a clearer, more understandable picture of Federal finances. Beyond that, the Blue Dog Coalition calls for a reform of the congressional budget process so that accrual budgeting is fairly considered in formulating Federal budgets.

Finally, I urge consideration of the Blue Dog call for honest budgeting, which builds on the Blue Dogs' fiscally sound 12-point plan, including caps on discretionary spending, PAYGO rules, that any spending increases be paid for with a revenue cut, a balanced budget amendment to the Constitution and other budget reforms.

These are dire economic times, Madam Speaker. We need to get our fiscal house in order. I urge my colleagues on the Budget Committee to consider the financial report, and I urge all of my colleagues to adopt the Blue Dog call for honest budgeting.

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