Conference Report on S. Con. Res. 70, Concurrent Resolution on the Budget for Fiscal Year 2009

Floor Speech

CONFERENCE REPORT ON S. CON. RES. 70, CONCURRENT RESOLUTION ON THE BUDGET FOR FISCAL YEAR 2009 -- (House of Representatives - June 05, 2008)

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Mr. Speaker, I rise today in strong support of Senate Concurrent Resolution 70, the Fiscal Year 2009 budget resolution.

I want to commend Chairman SPRATT, Ranking Member RYAN, as well as Senators CONRAD and GREGG, for their outstanding work in fashioning a fiscally responsible budget that will improve our Nation's flagging economy and address vital funding priorities.

Many people in Georgia and across the Nation are struggling in these difficult times.

They are struggling with skyrocketing energy costs, especially the high gasoline prices. In some parts of the Georgia's Second Congressional District, the price of a gallon of gas is over four dollars. It is having a ripple effect in many if not all sectors of the economy.

They also are struggling with the rising cost of health care and education. It is especially troubling to me why programs which help low- and middle-income Americans--especially veterans--afford medical care and a college education have been placed on the chopping block by our President over the last 7 years.

They are struggling with the weakening housing market. As many as two million Americans may see their mortgage rates increase in the next two years, with many of them losing their homes as a result of bad lending practices. Tens of millions of homeowners could see the value of their homes--their primary investment--drop in value as well.

America needs to put its fiscal house in order if it wants to retain its competitive edge and remain strong into the future.

I am pleased that the Fiscal Year 2009 budget resolution rejects the President's harmful discretionary spending cuts and makes important investments in veterans' health care, Medicare and Medicaid, affordable housing, education initiatives, our Nation's transportation infrastructure, as well as renewable energy and energy efficiency programs.

As a member of the Blue Dog Coalition, I am especially glad that the budget resolution brings the budget into balance by 2012 and fully complies with the PAYGO rule. It is difficult to believe that over the last 7 years we have gone from a $5.6 trillion surplus to a $3.2 trillion deficit. Our gross Federal debt is approaching $10 trillion dollars--the highest it has ever been in the Nation's history. The amount of this debt that is held by other countries such as China, Japan, and the OPEC nations also has more than doubled since the Bush administration took office in January 2001.

The budget resolution demonstrates that it is possible to fund vital programs, provide middle-income tax relief, eliminate the deficit over the next 5 years, pay down the national debt, and promote economic growth--all in a fiscally responsible manner. I strongly support this conference agreement, and I urge my colleagues to approve it.

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