Wayne Allard

Mr. ALLARD

Mr. ALLARD. Does the other side have anybody who cares to speak? If not, I can yield on this side.

Mr. ALLARD. Mr. President, I will take the opportunity to respond to some of the comments of the Senator from South Carolina and also to some of the comments from the chairman of the Budget Committee. We all appreciate the effort the chairman of the Budget Committee has put forth in paying down the public debt. I think he is to be commended for his commitment. We have talked about the need to pay down the public debt. What I am saying with this particular amendment is that we need to go beyond 5 years. We need to look at 20 years and put a plan in place. This is a minimal plan. We have over a $1.6 trillion budget. We are just taking $15 billion of it and saying let's commit each year an additional $15 billion to paying down the debt and that we ought to be able to do that. I don't care whether it is 15 or 10 or 7. Senator Enzi from Wyoming made the same comment. The important thing is that we have a plan to pay it down. This is a legitimate plan. This is not just a paper transfer. The Senator from South Carolina implied that this is just a transfer on paper. It isn't. It is taking the on-budget surplus and using that towards paying down the debt as a minimal plan. If the Budget Committee comes up with more dollars they want to put aside for debt reduction, God bless them. Let's do it. I am all for that. But this doesn't prevent them from doing more if they want to do it. In addition to that, we say, instead of taking the Social Security surplus and transferring it over to the general fund where it gets spent, hold it in a fund very much like the Domenici lockbox. We put it there, and we don't spend it. It stays in that fund until we have serious Social Security reform. Then, when we have changed Social Security, when we have saved Social Security, then we can relook at changing the law, where we have an automatic transfer of surplus and Social Security that goes to the general fund to be spent. We can look at the implications on our total debt figure. What you have here is a minimal plan. If you start including the off- budget surpluses in the year 2001, you have a total debt payment of around $152.4 billion because there is $137.4 billion that comes in on top of the $15 billion we have in the minimal plan. Then in the next year, in 2002, we go up to $30 billion that we are using in on-budget surplus to pay down the debt. That is a minimal plan to pay it down by 2021. We add on top of that another $143.6 billion to bring it up to $173.6 billion at the end of the 2002 budget year. That is assuming we don't do anything to reform or change Social Security. I think most of us agree that Social Security is going to have to be changed. We will have to do something to save it. I am saying, in the meantime, instead of leaving the money out there, leaving it vulnerable, let's use the money to pay down the public debt an additional amount so it doesn't get built into the spending patterns of the Congress and obligate us to programs we may not be able to afford if we go into a time period where our economy is going to turn down. I believe our economy is cyclical. Right now, we are going through unprecedented growth. At some point in time, it is going to turn around. We are going to regret the day we didn't do more to pay down the debt to get us in a position to ride through those economic downturns when they occur. I think this is an important provision. It is in no way intended to be critical of the efforts of the Budget Committee to date. It says we can do just a little bit more; instead of looking at 5-year increments, let's look at a 20-year increment for paying down the debt. We can do that in 20 years, by 2021. It says that in the process of doing that, at a minimum, we will save ourselves $3 trillion in interest payments. It is a concrete plan. It doesn't eliminate the opportunity, if Members of the Senate want to have reduced taxes. It does not eliminate that. It has an enforcement mechanism. Last fall, we got into a discussion in the Senate as to whether or not we were spending Social Security dollars because there was a disagreement on what the revenues were going to be at the first of the year, and we moved into February. We have provided that if our projected revenues don't hold up, we can go in and make adjustments on spending so that when we tell the American people we are not going to spend Social Security dollars and the revenues don't hold up, we won't spend Social Security dollars. We will have saved Social Security. I think it is straightforward budgeting. It is accountable. I think it is a step in the right direction. I reserve the remainder of my time. I wonder if we have anyone further who wants to speak on the other side.

Mr. ALLARD. Will the Senator yield?

Mr. ALLARD. That is fine.

Mr. ALLARD. How much time remains?

Mr. ALLARD. Yes.

Mr. ALLARD. I want 2 or 3 minutes to summarize. I can do that and then yield back the remainder of my time.

Mr. ALLARD. Mr. President, my response is, we have 4-percent growth in outlays projected into the schedule that we have laid out. In reality, there are no program cuts. We make provisions for 4-percent increases. There is just a plan. It is similar to an amortization schedule for your home. If the family runs into problems, they can redo that plan to pay down the debt. But the key is that we have a plan to pay down the debt. We have allowed 4-percent growth in spending in that plan. I think that is reasonable.

Mr. ALLARD. I yield 15 minutes to the Senator from Wyoming.

Mr. ALLARD. Mr. President, I yield 5 minutes to the Senator from Ohio.

Mr. ALLARD. It includes the Social Security surplus. The bill sets the Social Security surplus over here, and says it will not spend the Social Security surplus unless we do Social Security reform. On top of that, you have the Social Security surplus. If we took 2001 and 2002, for example, when you include a Social Security surplus, it is more than $15 billion. It is $152.4 billion in 2001, and $173.6 billion paying down the debt in both those years. It is pretty similar to what the Budget Committee is doing right now.

Mr. ALLARD. Mr. President, pursuant to section 904 of the Budget Act, I move to waive section 305 of the Budget Act for the consideration of Allard amendment No. 2906 and ask for the yeas and nays.

Mr. ALLARD. Mr. President, I have an amendment at the desk numbered 2906.

Mr. ALLARD. That is a priority.

Mr. ALLARD. Mr. President, I speak in behalf of the amendment. We are going through unprecedented good times. We ought to take advantage of this time and put in place a plan to pay down the debt. We do not have a plan to pay down the debt, and my amendment lays in place a 20-year plan to completely eliminate the debt. By doing that, we save over $3 trillion in interest payments, and we also do not eliminate the opportunity to reduce taxes. In fact, I believe repaying the debt is the first step necessary in providing the structure to make further tax cuts. Repayment of the debt owed to the public by requiring all Social Security surpluses be applied to the debt until we have Social Security reform is the proper approach. This is a minimal plan in paying down the debt. It will probably do more because the Social Security surplus will also go towards paying down the public debt.

Mr. ALLARD. Mr. President, the Senator from North Dakota indicated that we include Social Security in our provision when we say we have to balance the budget. That is correct. But he did not read the whole bill because if he had read another section of the bill, it shows we set aside the Social Security surplus and do not spend it. We do treat Social Security as an off-budget item, and we keep it there. It stays there until there is Social Security reform or we do something to save Social Security. We all agree Social Security is headed for trouble. I wanted to clarify for the record that we do protect Social Security. I point out in opposition to the amendment of the Senator from North Dakota that my amendment does more than what he is proposing. We have a plan in place that specifically saves Social Security, and we have an enforcement mechanism in there. I plan to vote against the amendment of the Senator from North Dakota because I believe that unless we have the enforcement mechanism, all of this is a sham. We need to have the enforcement mechanism that says if our revenues do not measure up, we do not spend Social Security. I thank the Senator from New Mexico for yielding to me so that I could clarify the record. I yield back any remaining time.

Mr. ALLARD. Will the Senator from South Carolina yield?

Mr. ALLARD. Our time has expired. The Senator's time has expired.

Mr. ALLARD. I am sorry, the time I yielded to the Senator from Wyoming has expired.

Mr. ALLARD. Will the Senator from New Mexico yield to me? Will the Senator from New Mexico give me some time to respond to the comments of the Senator from North Dakota?

Mr. ALLARD

Mr. ALLARD. Mr. President, I rise to make a few comments on the Social Security earnings test elimination bill. Today I join my Senate colleagues in supporting important legislation that will benefit millions of American seniors who want to remain working after age 65 without facing a reduction in their Social Security benefits. In America today there are roughly 800,000 Social Security recipients between the ages of 65 and 70. Under current law if you are one of those 800,000 Americans and you earn more than $17,000 this year you will begin to see a reduction, $1 in loss for every $3 earned over $17,000 in Social Security benefits. I think it is important to recognize that those being penalized are those who have been paying into Social Security their entire working lives. I have long disapproved of this punitive system that places restrictions on a person's right to work, and an employer's ability to hire the right person for the job. Too often Social Security is viewed as a handout, but for the vast majority of Americans this is an earned benefit that should not be subject to Depression-era work restrictions. The Members of this body are familiar with the numerous obstacles facing employers, particularly small business owners, in these times of near full employment. In my home State of Colorado, our small businesses, hospitality and tourism employers are struggling to find experienced, qualified individuals even in these times of prosperity. Here in the Senate we have looked at increasing the number of guest workers visas and streamlining the visa process in an effort to provide employers with an opportunity to reach employees. While we will still consider these efforts, the passage of the Social Security earnings test elimination bill will allow employers to tap an eager and rich population of employees already living in every community in our State. Importantly, this legislation will put an end to a depressing practice that has forced working seniors to leave their jobs mid-year once their earnings threshold has been reached. Not only will America's working seniors be spared unnecessary grief, but these seniors and their employers will be free to develop stable, life-long working relationships. The Congressional Budget Office has estimated that this legislation will cost $22.7 billion over the next 10 years. I understand that actuaries from the Social Security Administration have reported that this cost will be negligible over the long term. I mention this solely in the context that as we pass this legislation we recognize that this measure is associated with a cost. Congress must budget appropriately in response to this cost. Repealing the earnings limit is an idea whose time has come, whose time came years ago. Part of constructing good public policy is making hard choices. I hope that my colleagues will recognize that if we are not willing to assume the responsibilities of these costs in other areas of the budget we run the risk of continued fiscal irresponsibility that threatens Social Security and a balanced Federal budget. Like many of my colleagues in the Senate today I had the good fortune to work on a precursor to this legislation when I served in the House of Representatives. During the 104th Congress I voted in favor of H.R. 2491, the budget reconciliation bill that carried a number of provisions outlined in the Contract with America. One of these provisions was the gradual increase of the Social Security earnings limit. In December 1995, President Clinton vetoed this legislation. I am thankful that today the Senate will pass this legislation overwhelmingly, insuring relief and increased economic freedom for America's seniors.

Mr. ALLARD

Mr. ALLARD. Mr. President, yesterday in Colorado, at the chapel of the United States Air Force Academy, our country buried a hero. William J. Crawford, a recipient of the Congressional Medal of Honor, passed away March 15th at the home he built himself in Palmer Lake, Colorado. And while Mr. Crawford won the Congressional Medal of Honor-- our nation's highest award--specifically for his actions during World War Two on a hill in Italy, he showed that the medal was well deserved by the actions of each and every day of his life. On September 13th, 1943, Private Crawford and his 3rd Platoon, 1st Company, 36th Infantry Division were attacking Hill 424 near Altavilla, Italy. The platoon was pinned down by intense machine gun fire. Private Crawford, without orders and on his own initiative, singlehandedly destroyed the machine gun and allowed the rest of his platoon to advance. Later, the platoon was again blocked, this time from two enemy machine gun positions and small arms fire. Private Crawford once more went into action, destroyed both gun positions, and turned a captured German weapon on the withdrawing enemy, facilitating the company's advance. As his Medal of Honor citation says, this was an act of ``conspicuous gallantry . . . . above and beyond the call of duty.'' But Mr. Crawford's sacrifice for his country went further. He was captured during the same battle later that day, and eventually served 19 months in a German POW camp. The Army thought he had been killed, and actually awarded his Medal posthumously to his father. It was not until 1984 that a ceremony was held presenting the Medal to William himself. President Ronald Reagan had that honor, at the annual commencement ceremony held at the Air Force Academy. Every year, Mr. Crawford attended that graduation to present the Outstanding Cadet award. Because Private Crawford, even after his bravery, even after 19 months in a POW camp, and even after an additional 22 years of post-war service to his country, continued to serve his nation. After his retirement in 1967, Mr. Crawford took a job as a janitor at the Air Force Academy. It let him supplement his retirement pay, and--more importantly--kept him around the armed forces life, and in contact with the future leaders of our military, young officers who can always use a outstanding role model of sacrifice, service, and modesty. In his last years he was very active with children, speaking to and teaching them about WWII, and serving as a shining example of dedication and patriotism. Mr. Crawford's life was one of service: from the gallantry in combat to the less intense but also important roles as mentor, community volunteer, scoutmaster, and role model. As that life ends, as we honor a departed hero, we also recognize the continuance of the memory and legacy of a life well lived. Thank you, Mr. Crawford.

Mr. ALLARD

Mr. ALLARD. Mr. President, today I am introducing legislation to authorize the Bureau of Reclamation to provide cost sharing for the endangered fish recovery implementation programs for the Upper Colorado River and San Juan River basins. This legislation is the product of years of meetings between water districts, power users, state and federal government and environmental groups. It authorizes federal and non-federal funding of an Upper Basin Recovery Program for endangered species in the Colorado River Basin and the San Juan River Basin. The goal of the program is to recover the Colorado pikeminnow, humpback chub, razorback sucker and bonytail chub while continuing to meet future water supply needs in the Upper Basin states of Colorado, Utah, Wyoming and New Mexico. To date, more than $20 million has been spent for capital projects to recover the endangered fish. Failure to recover the endangered species could result in limitations on current and future water diversions and use in the Upper Basin states. The legislation provides Congress and the Upper Basin stakeholders a finite Recovery Program under an authorized spending cap. The legislation authorizes $100 million for capital construction, operations and maintenance to implement other aspects of the program that include fish ladders, hatchery facilities, removal of non-native species and habitat restoration. The cost sharing program authorizes $46 million of federal funds to the Bureau of Reclamation and the remaining $54 million will be generated from state contributions not to exceed $17 million; contributions from power revenues up to $17 million and the remaining $20 million from replacement power credit and capital cost of water. The States of Colorado, New Mexico, Utah and Wyoming all support the program. Other supporters include: the Colorado River Energy Distributors Association, the Upper Colorado River Endangered Fish Recovery Implementation Program, the Environmental Defense Fund, The Nature Conservancy, Northern Colorado Water Conservancy District, Colorado River Water Conservation District, Southern Ute Indian Tribe and Colorado Water Congress. It is critical to affirm the federal government's commitment to the implementation of the Recovery Programs. The bill reflects compromise on all sides of the issue and recognizes that protection of endangered species can coincide with water development and water use. The participants want to move ahead with this program and are willing to help share in the costs. I urge my Senate colleagues to support this important legislation.

Mr. ALLARD

Mr. ALLARD. Mr. President, I rise today to join my colleagues in this important discussion about the federal budget, the budget surplus, and the American government's economic future. When I first came to Congress in 1992 the discussion was radically different. The concept of a budget surplus, let alone long term projections for a surplus, was foreign. The notion that a national debt measured in trillions could ever be paid off was practically science fiction. While 1992 was only eight years ago, we stand on the floor of the Senate today a million miles away from the bleak fiscal outlook of those times. But we must be careful. While our present fiscal condition may be rose colored, fiscal irresponsibility and a refusal to wisely use the budget surplus can not only lead us back to our deficit spending ways of the past, but it will threaten the fiscal health of our nation for yet another generation of Americans. I am here today to urge my colleagues to address the responsibility that comes with a five-point-seven trillion dollar debt. During the 105th Congress I introduced the American Debt Repayment Act. This legislation provided an amortization schedule for the repayment of the national debt. The largest purchase an average American family will ever make is the purchase of a home. This expenditure is made possible through the use of a mortgage, a set schedule of payment. When I was crafting the American Debt Repayment Act I studied this traditional form of payment and applied it to the enormous federal debt. Two short years later the outlook has somewhat changed as the federal government has run, and is estimated to continue to run, an on-budget surplus. During the previous two budget cycles we have witnessed an eagerness to spend more and more money. On-budget surplus dollars have become lumped in to the appropriations process to allow for increased spending. We have seen the results yielded by our time of prosperity as surplus money has been used to raise the discretionary spending level, allowing Congress to shy away from making some hard choices. The willingness to spend surplus dollars is so strong, in fact, that when Congress adjourned last fall there was no real certainty as to whether we spent all of the on-budget surplus and then dipped into Social Security Trust Fund dollars. This, quite simply, is no way to run any enterprise. Flowing surplus money back into discretionary spending to the extent that Social Security money would be jeopardized is bad policy. Today I rise to offer legislation that offers not only an opportunity to control the impulse to spend surplus dollars, but would eliminate the entire three-point-six trillion dollar debt owed to the public, save over three trillion dollars in interest, and protect the Social Security program from annual discretionary appropriations raids. It is simple legislation in the model of the American Debt Repayment act, providing dedicated debt repayment over a twenty year period. Beginning with the fiscal year 2001 and for every year thereafter my legislation requires that the federal government maintain a balanced budget. As most families and business owners know, you must live within your means. It is fair and equitable that the federal government live under the same parameters. I believe that this is the first and most essential step in federal budget accountability and debt repayment. My legislation further provides that Congress must budget for a surplus that will be dedicated to the repayment of the publicly held portion of the debt. Specifically, in fiscal year 2001 Congress must use fifteen billion dollars of on-budget surplus receipts to pay down the debt. Every succeeding year the amount of debt payment must increase by fifteen billion dollars, so the amount Congress must budget for and pay toward the debt in fiscal year 2002 will be thirty billion dollars, forty-five billion in fiscal year 2004, and so on. If Congress can remain within the framework of a spending freeze at fiscal year 2000 levels the entire amount of annual payment will fit within the projected amount of federal on-budget surplus. If this system is adopted, by the year 2021 the entire debt owed to the public will be zero. We must have a plan to repay the debt. When we have a plan and a repayment schedule, just like you have on your home mortgage, we will have the ability to cut taxes. A plan provides certainty and structure. I believe that anyone concerned with the national debt or tax cuts will understand the need for a responsible repayment schedule. In addition to the on-budget surplus payment required by this legislation, I have added language to require that until such time as serious Social Security reform is implemented Social Security surplus dollars must also be dedicated to the repayment of debt owed to the public. Every Member of this body is aware of the enormous obligation this country has made to present and future Social Security recipients. Policy makers must address the future solvency of Social Security. I am not here today, and my legislation is not drafted, to address this vital issue. What my legislation will do, however, is dedicate surplus Social Security dollars to debt repayment until the Congress can generate an appropriate, long term fix to the obstacles that stand in the way of this program. In recent weeks the distinguished Speaker of the House and the President have talked a great deal publicly about seizing the unprecedented opportunity that lies before us--to pay down this nation's debt. Testifying before the Senate Banking Committee in January, Federal Reserve Chairman Alan Greenspan strongly urged Congress to use surplus dollars to pay down the debt. Chairman Greenspan stated that his, quote, first priority would be to allow as much of the surplus to flow through into a reduction in debt to the public, unquote. This dialogue has been tremendously helpful in further drawing the attention of the public and elected officials to the importance of debt repayment. As many of my colleagues can attest, and as I have experienced in my numerous town meetings around my home state of Colorado, this is an issue the public understands. It is an issue basis common sense, equity and responsibility. This legislation is a call to action and accountability. It demands that this country and this Congress recognize the debt it has created. It structures a disciplined, fiscally responsible schedule for the repayment of our debt. In the process it is my hope that this legislation will serve to generate greater fiscal responsibility with every appropriations cycle, prevent future deficit spending, and save the taxpayer more than three trillion dollars in interest payments. That is three trillion dollars that would be far better spent on necessary expenditures, the strengthening of Social Security, and tax cuts. Mr. President, I ask unanimous consent that the text of the bill, the American Social Security Protection and Debt Repayment Act, be printed in the Record.

Mr. ALLARD

Mr. ALLARD. Mr. President, I rise today to join my colleagues in this important discussion about the federal budget, the budget surplus, and the American government's economic future. When I first came to Congress in 1992 the discussion was radically different. The concept of a budget surplus, let alone long term projections for a surplus, was foreign. The notion that a national debt measured in trillions could ever be paid off was practically science fiction. While 1992 was only eight years ago, we stand on the floor of the Senate today a million miles away from the bleak fiscal outlook of those times. But we must be careful. While our present fiscal condition may be rose colored, fiscal irresponsibility and a refusal to wisely use the budget surplus can not only lead us back to our deficit spending ways of the past, but it will threaten the fiscal health of our nation for yet another generation of Americans. I am here today to urge my colleagues to address the responsibility that comes with a five-point-seven trillion dollar debt. During the 105th Congress I introduced the American Debt Repayment Act. This legislation provided an amortization schedule for the repayment of the national debt. The largest purchase an average American family will ever make is the purchase of a home. This expenditure is made possible through the use of a mortgage, a set schedule of payment. When I was crafting the American Debt Repayment Act I studied this traditional form of payment and applied it to the enormous federal debt. Two short years later the outlook has somewhat changed as the federal government has run, and is estimated to continue to run, an on-budget surplus. During the previous two budget cycles we have witnessed an eagerness to spend more and more money. On-budget surplus dollars have become lumped in to the appropriations process to allow for increased spending. We have seen the results yielded by our time of prosperity as surplus money has been used to raise the discretionary spending level, allowing Congress to shy away from making some hard choices. The willingness to spend surplus dollars is so strong, in fact, that when Congress adjourned last fall there was no real certainty as to whether we spent all of the on-budget surplus and then dipped into Social Security Trust Fund dollars. This, quite simply, is no way to run any enterprise. Flowing surplus money back into discretionary spending to the extent that Social Security money would be jeopardized is bad policy. Today I rise to offer legislation that offers not only an opportunity to control the impulse to spend surplus dollars, but would eliminate the entire three-point-six trillion dollar debt owed to the public, save over three trillion dollars in interest, and protect the Social Security program from annual discretionary appropriations raids. It is simple legislation in the model of the American Debt Repayment act, providing dedicated debt repayment over a twenty year period. Beginning with the fiscal year 2001 and for every year thereafter my legislation requires that the federal government maintain a balanced budget. As most families and business owners know, you must live within your means. It is fair and equitable that the federal government live under the same parameters. I believe that this is the first and most essential step in federal budget accountability and debt repayment. My legislation further provides that Congress must budget for a surplus that will be dedicated to the repayment of the publicly held portion of the debt. Specifically, in fiscal year 2001 Congress must use fifteen billion dollars of on-budget surplus receipts to pay down the debt. Every succeeding year the amount of debt payment must increase by fifteen billion dollars, so the amount Congress must budget for and pay toward the debt in fiscal year 2002 will be thirty billion dollars, forty-five billion in fiscal year 2004, and so on. If Congress can remain within the framework of a spending freeze at fiscal year 2000 levels the entire amount of annual payment will fit within the projected amount of federal on-budget surplus. If this system is adopted, by the year 2021 the entire debt owed to the public will be zero. We must have a plan to repay the debt. When we have a plan and a repayment schedule, just like you have on your home mortgage, we will have the ability to cut taxes. A plan provides certainty and structure. I believe that anyone concerned with the national debt or tax cuts will understand the need for a responsible repayment schedule. In addition to the on-budget surplus payment required by this legislation, I have added language to require that until such time as serious Social Security reform is implemented Social Security surplus dollars must also be dedicated to the repayment of debt owed to the public. Every Member of this body is aware of the enormous obligation this country has made to present and future Social Security recipients. Policy makers must address the future solvency of Social Security. I am not here today, and my legislation is not drafted, to address this vital issue. What my legislation will do, however, is dedicate surplus Social Security dollars to debt repayment until the Congress can generate an appropriate, long term fix to the obstacles that stand in the way of this program. In recent weeks the distinguished Speaker of the House and the President have talked a great deal publicly about seizing the unprecedented opportunity that lies before us--to pay down this nation's debt. Testifying before the Senate Banking Committee in January, Federal Reserve Chairman Alan Greenspan strongly urged Congress to use surplus dollars to pay down the debt. Chairman Greenspan stated that his, quote, first priority would be to allow as much of the surplus to flow through into a reduction in debt to the public, unquote. This dialogue has been tremendously helpful in further drawing the attention of the public and elected officials to the importance of debt repayment. As many of my colleagues can attest, and as I have experienced in my numerous town meetings around my home state of Colorado, this is an issue the public understands. It is an issue basis common sense, equity and responsibility. This legislation is a call to action and accountability. It demands that this country and this Congress recognize the debt it has created. It structures a disciplined, fiscally responsible schedule for the repayment of our debt. In the process it is my hope that this legislation will serve to generate greater fiscal responsibility with every appropriations cycle, prevent future deficit spending, and save the taxpayer more than three trillion dollars in interest payments. That is three trillion dollars that would be far better spent on necessary expenditures, the strengthening of Social Security, and tax cuts. Mr. President, I ask unanimous consent that the text of the bill, the American Social Security Protection and Debt Repayment Act, be printed in the Record.