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Guest Commentary: August 24, 2001
Biggest Threats to Budget Surplus Are Slow Economy and Wasteful Spending
The Honorable J. Dennis Hastert
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While they should not come as a big surprise, these budget projections simply confirm our economy has been sagging and there's still more to be done to give our workers and businesses the lift they need.
In fact, I believe these numbers highlight that this year's tax relief package passed by the Congress and signed into law by the President could not be hitting the streets at a better time because putting more money in people's pockets serves as an immediate economic stimulus.
I think we should look at this budget review as an opportunity to do more to boost the economy and help working Americans through pro-growth tax relief, holding the line on reckless Washington spending, giving the President trade negotiating authority and passing a comprehensive national energy policy into law.
Let me be unequivocal that we are protecting Social Security and Medicare so that every dime paid into those retirement programs is only spent on Social Security and Medicare.
We also should not overlook that we have the second largest budget surplus in American history, allowing us to pay off an astounding $2 trillion worth of federal debt by the time this year's junior high school kids graduate from college.
Always remember that the two biggest threats to future budget surpluses and our national priorities are a continued slow economy and wasteful Washington spending.
Note: The above commentary has been adpated from a statement Speaker Hastert issued, August 22, 2001.
 How to contact Speaker J. Dennis Hastert (R-IL)
Reading a past guest commentary? Click here for the most current one.
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