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Deficit Continues to Decline

Floor Speech

Date: Oct. 15, 2007
Location: Washington, DC
Issues: Government Budget and Spending


DEFICIT CONTINUES TO DECLINE -- (House of Representatives - October 15, 2007)

(Mr. WILSON of South Carolina asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. WILSON of South Carolina. Madam Speaker, the Department of Treasury and Office of Management and Budget have announced that today's budget deficit is $85 billion less than last year. That marks a $250 billion decline over the last 3 years and brings us even closer to balancing the budget.

This good news is a clear sign that a government which taxes less and spends less taxpayer dollars and spends them wisely can balance its checkbook. These recent record tax revenues are paying down the deficit, but we must do our part by honoring the hard work of the American people and not passing future bloated budgets and tax hikes.

The American people have learned to live within their means; it is time that Washington do the same. That means we do not spend $22 billion more than we need to or tax Americans $400 billion more than they deserve. Above all, the government must address the pending entitlement crisis. This is a situation where Congress cannot pass the buck.

In conclusion, God bless our troops, and we will never forget September the 11th.


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