Jesse Helms

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business Friday, October 31, 1997, the Federal debt stood at $5,427,225,185,059.66 (Five trillion, four hundred twenty-seven billion, two hundred twenty-five million, one hundred eighty-five thousand, fifty-nine dollars and sixty-six cents). One year ago, October 31, 1996, the Federal debt stood at $5,247,320,000,000 (Five trillion, two hundred forty-seven billion, three hundred twenty million). Twenty-five years ago, October 31, 1972, the Federal debt stood at $439,947,000,000 (Four hundred thirty-nine billion, nine hundred forty- seven million) which reflects a debt increase of nearly $5 trillion-- $4,987,278,185,059.66 (Four trillion, nine hundred eighty-seven billion, two hundred seventy-eight million, one hundred eighty-five thousand, fifty-nine dollars and sixty-six cents) during the past 25 years.

Mr. HELMS

Mr. HELMS. Mr. President, the American Petroleum Institute reports that for the week ending October 24, the United States imported 7,482,000 barrels of oil each day, 1,104,000 barrels more than the 8,586,000 imported each day during the same week a year ago. Americans relied on foreign oil for 54 percent of their needs last week, and there are no signs that the upward spiral will abate. Before the Persian Gulf war, the United States obtained approximately 45 percent of its oil supply from foreign countries. During the Arab oil embargo in the 1970's, foreign oil accounted for only 35 percent of America's oil supply. Anybody else interested in restoring domestic production of oil? By U.S. producers using American workers? Politicians had better ponder the economic calamity sure to occur in America if and when foreign producers shut off our supply--or double the already enormous cost of imported oil flowing into the United States--now 7,482,000 barrels a day.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business yesterday, Thursday, October 30, 1997, the Federal debt stood at $5,430,869,894,529.83 (Five trillion, four hundred thirty billion, eight hundred sixty-nine million, eight hundred ninety-four thousand, five hundred twenty-nine dollars and eighty-three cents). One year ago, October 30, 1996, the Federal debt stood at $5,237,762,000,000 (Five trillion, two hundred thirty-seven billion, seven hundred sixty-two million). Five years ago, October 30, 1992, the Federal debt stood at $4,067,329,000,000 (Four trillion, sixty-seven billion, three hundred twenty-nine million). Ten years ago, October 30, 1987, the Federal debt stood at $2,384,800,000,000 (Two trillion, three hundred eighty-four billion, eight hundred million). Twenty-five years ago, October 30, 1972, the Federal debt stood at $439,230,000,000 (Four hundred thirty-nine billion, two hundred thirty million) which reflects a debt increase of nearly $5 trillion-- $4,991,639,894,529.83 (Four trillion, nine hundred ninety-one billion, six hundred thirty-nine million, eight hundred ninety-four thousand, five hundred twenty-nine dollars and eighty-three cents) during the past 25 years.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business yesterday, Wednesday, October 29, 1997, the Federal debt stood at $5,429,377,880,990.06 (Five trillion, four hundred twenty-nine billion, three hundred seventy-seven million, eight hundred eighty thousand, nine hundred ninety dollars and six cents). One year ago, October 29, 1996, the Federal debt stood at $5,236,574,000,000 (Five trillion, two hundred thirty-six billion, five hundred seventy-four million). Five years ago, October 29, 1992, the Federal debt stood at $4,067,523,000,000 (Four trillion, sixty-seven billion, five hundred twenty-three million). Ten years ago, October 29, 1987, the Federal debt stood at $2,385,077,000,000 (Two trillion, three hundred eighty-five billion, seventy-seven million). Fifteen years ago, October 29, 1982, the Federal debt stood at $1,142,825,000,000 (One trillion, one hundred forty-two billion, eight hundred twenty-five million) which reflects a debt increase of more than $4 trillion--$4,286,552,880,990.06 (Four trillion, two hundred eighty-six billion, five hundred fifty-two million, eight hundred eighty thousand, nine hundred ninety dollars and six cents) during the past 15 years.

Mr. HELMS

Mr. HELMS. I thank the Chair and I thank the managers of the bill. Mr. President, we have been working with Senator McCain and Senator Hollings and their staffs and, of course, William Kennard. I met with him for some time in my office. Mr. Kennard is the nominee to be Chairman of the Federal Communications Commission, as you know. Now, all of us--and I think it is fair to include Mr. Kennard--want to rectify an awkward and unjustifiable situation that has developed in the Federal Communications Commission process of awarding broadcast licenses. Specifically, in this case, a well-known and highly respected and popular broadcasting executive in Asheville, NC, was curiously disqualified in his application for an FM frequency in the Asheville area. There was a lot of resentment in the public about that. What happened, Mr. President, was that this gentleman, Zeb Lee, of Asheville, and 12 other groups, had applied for the FM frequency when it became available in 1987. The Commission's comparative hearing process, in effect at that time, was used to determine which group would be the most qualified for the frequency. Zeb Lee had run station WSKY-AM in Asheville for 46 years, during which time he did the play-by-play for about 4,000 high school football games, and by sponsoring such public interest things as an Elvis Presley concert in 1955, which I would not have listened to, but most people did want to hear it. But he made so many innovations in broadcasting that he became just a household word, in terms of his name. He is enormously popular to this day. Well, Mr. President, in 1989, a 20-day hearing was held during which an FCC administrative law judge disqualified most of the other applicants because the judge ruled that they either lacked experience, didn't have transmitter facilities ready to go, or were basing their application purely on provisions favoring minorities--women and others. The judge found for the Lees, ruling in their favor on May 4, 1990. The judge found that the Lees were the most qualified, citing their stewardship of the AM station and Mr. Lee's commitment of involvement in the day-to-day management of the station. The FCC then favored active involvement by owners in the day-to-day operations of a radio station, as opposed to passive investors who would not be active managers. I think that is the way to go, as a former broadcaster. In any case, Mr. President, in addition to the first ruling in favor of Zeb Lee and his people, on April 8, 1991, the FCC Review Board affirmed the administrative law judge's ruling. And then on February 28, 1992, the FCC released its first decision favoring the Lees and a second decision also favoring the Zeb Lee application was released, I believe, on November 23, 1992. So on June 14, 1993, the FCC released a third ruling favoring the Lees. Well, Mr. President, you might say, ``Why is Helms going to speak today talking about this nominee and this situation in Asheville, NC.?'' The FCC granted a construction permit to the Lees on April 30, 1993, following which they began the construction process. So it went through a series of regulatory twist and turns in which the Lees complied with every order and requirement issued by the FCC and the administrative law judge, who stipulated that Mr. Lee must dispose of his AM station as a condition for acquiring that FM license--which Mr. Lee did. Amazingly, on June 18 of this year, the FCC which had reversed itself on June 2, forced the Lees off the air. Zeb Lee has asked the U.S. Court of Appeals to examine the manner in which the FCC handled his application, which led to his being taken off the air. The court will shortly issue a decision in the near future. Mr. President since April 30, 1993, the U.S. Court of Appeals in the Bechtel case of December 17, 1993, struck down the ``comparative process'' that had been used to determine allocations of radio and television frequencies. The court directed the FCC to come up with new comparative standards. The Lees and about 25 to 30 other people were affected by this decision. But their cases have been frozen ever since. Additionally, a provision in the Balanced Budget Act of 1997, which went into effect July 1, required that all radio and television frequencies be subject to auction. This provision concerned me because Zeb Lee's case and another 25 to 30 cases were in the pipeline and could be subject to auction which nobody anticipated. I find no fault with the provision in the balanced budget legislation, but it crept in the back door on Mr. Lee and the others. So, to get to the meat of the coconut, Mr. President, I submitted questions to Mr. Kennard through Senator Burns' Commerce Communications Subcommittee about all of this. I ask unanimous consent that the nominee's responses be printed in the Record at the conclusion of my remarks.

Mr. HELMS. I thank the Chair. I thank the manager. I yield the floor. Mr. McCAIN addressed the Chair.

Mr. HELMS. Mr. President, if it is in order and agreeable to the manager of this nomination, I ask for the yeas and nays.

Mr. HELMS. I thank the Chair. Senators should note that Mr. Kennard clearly feels the FCC can conduct hearings on this small group and class of applicants using new comparative criteria. In any event, Mr. President, I then consulted and wrote to the able chairman of the Senate Commerce, Science, and Transportation Committee, Mr. McCain, seeking assurance that Senator McCain now agrees that the provisions in the Balanced Budget Act of 1997 do not prohibit the FCC from using the comparative process in these 25 or 30 cases. I ask unanimous consent that copies of my letter and Senator McCain's response be printed in the Record at the conclusion of my remarks.

Mr. HELMS. I thank the Chair. Mr. President, I have been given assurances satisfactory to me by Mr. Kennard that he will, within statute and regulation, work in good faith with me and others to resolve the problems the Bechtel decision caused. I was very impressed when Mr. Kennard came to my office and met with me about 3 weeks ago. I appreciate his voluntary assurance that he will work with us on the Zeb Lee case. Therefore, Mr. President, I support the nomination, and I am going to ask for the yeas and nays. I hope that he will be confirmed unanimously by the Senate. Exhibit 1 Responses of William E. Kennard to Post-Hearing Questions Submitted by Senator Conrad Burns on behalf of Senator Jesse Helms 1. As you know, the recent budget legislation included a provision that appear[s] to require the FCC to apply auction procedures to pending applications for radio stations. These provisions were reportedly aimed at resolving the applications that have been in limbo since the Bechtel case struck down a part of the FCC's rules governing comparative license application proceedings. Please clearly state your views in response to the following questions: a. In your opinion, is the FCC now required to apply these auction provisions to all pending application cases, or does the FCC have discretionary authority not to handle pending cases through this auction approach? In the Balanced Budget Act of 1997, Congress required the FCC to use auctions to resolve all future comparative broadcast proceedings involving commercial stations. For pending applications, the statute states that the Commission ``shall have the authority'' to use auctions. The Conference Report states that this provision ``requires'' the Commission to use auctions for pending cases. The Commission will be determining in a rulemaking proceeding implementing the Balanced Budget Act of 1997 how it should proceed with these pending cases. The statutory language suggests that the Commission has discretion to use comparative proceedings for pending cases. b. While most of the pending comparative cases had not gone through a hearing before an administrative law judge, and had at least an initial decision issued, a relatively small number of these cases had in fact been decided under the old rules by an ALJ and in some cases decisions made by the full Commission, although these decisions may have been on appeal. In those cases, the parties often had spent many years and hundreds of thousands of dollars to advance their applications under the old rules. Do you believe that it would be more equitable not to apply auction procedures to the cases which were far along in the process, where the applicants had played in good faith under the old rules, and to instead have those cases decided using any existing hearing record pursuant to such special rules as the Commission might adopt for deciding them? I do believe that the Bechtel decision has caused unfairness to many applicants who have had further processing of their applications delayed and, as a result of that court decision, will necessarily have their applications processed under new procedures. I am quite sympathetic to their predicament. That is why the Commission argued to the court in Bechtel that the court's decision should only apply to new cases. Unfortunately the Commission was not successful and the court rejected this argument. As noted above, the issue of what those procedures will be, that is, whether some or all pending applications should be auctioned or decided pursuant to some new, yet-bo-be developed criteria, will be a subject of the Commission's rulemaking proceeding implementing the Balanced Budget Act of 1997. The Commission certainly may consider as part of that rulemaking proceeding any arguments that particular classes of pending applicants should be treated differently. c. The U.S. Court of Appeals in the Bechtel case ordered the Commission to issue new comparative rules. Although the Commission never formally adopted such new rules, its staff, including your office, prepared draft rules to respond to the Court's order. Please summarize how those draft rules would have dealt with pending cases, and comment on whether those drafts might be suitable and readily adaptable for use in resolving at least those pending cases that had reached the point where an initial decision had been issued based on a hearing record. The FCC staff presented a draft order to the Commission earlier this year. In that draft, the staff recommended that pending hearing cases be resolved by a lottery pursuant to section 309(i) of the Communications Act. The Balanced Budget Act of 1997 eliminated the Commission's authority to use lotteries for these cases, so the staff proposal is no longer an option. Exhibit 2 U.S. Senate, Washington, DC, October 21, 1997. Hon. John McCain, Chairman, Senate Committee on Commerce, Science, and Transportation, Washington, DC. Dear John: My folks have conducted numerous discussions with your good people about the FCC treatment of Zeb Lee, a long-time Asheville broadcaster, in response to Lee's attempt to secure an FM radio station. (Zeb and approximately 25 to 30 other applicants were left stranded in the regulatory process by the Bechtel court decision.) Additionally, I understand these 25 to 30 applicants are not affected by the provision requiring the auctioning of all radio and television licenses that was included in the Balanced Budget Act of 1997, which went into effect July 1 of this year. The FCC contends that it interprets this provision as giving the Commission the authority to decide whether these 25 to 30 applicants be judged on the basis of the comparative hearing process. John, I do hope that you agree that this is a proper interpretation. Furthermore, in the future if the courts question this interpretation for these applicants, I do hope that you will reaffirm this interpretation and move related legislation swiftly through the Senate. Many thanks, John. Sincerely, Jesse.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business yesterday, Tuesday, October 28, 1997, the Federal debt stood at $5,429,321,910,123.66 (Five trillion, four hundred twenty-nine billion, three hundred twenty-one million, nine hundred ten thousand, one hundred twenty-three dollars and sixty-six cents). One year ago, October 28, 1996, the Federal debt stood at $5,233,941,000,000 (Five trillion, two hundred thirty-three billion, nine hundred forty-one million). Five years ago, October 28, 1992, the Federal debt stood at $4,065,988,000,000 (Four trillion, sixty-five billion, nine hundred eighty-eight million). Ten years ago, October 28, 1987, the Federal debt stood at $2,385,891,000,000 (Two trillion, three hundred eighty-five billion, eight hundred ninety-one million). Fifteen years ago, October 28, 1982, the Federal debt stood at $1,142,243,000,000 (One trillion, one hundred forty-two billion, two hundred forty-three million) which reflects a debt increase of more than $4 trillion--$4,287,078,910,123.66 (Four trillion, two hundred eighty-seven billion, seventy-eight million, nine hundred ten thousand, one hundred twenty-three dollars and sixty-six cents) during the past 15 years.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business yesterday, Monday, October 27, 1997, the Federal debt stood at $5,427,907,147,573.22 (Five trillion, four hundred twenty-seven billion, nine hundred seven million, one hundred forty-seven thousand, five hundred seventy-three dollars and twenty-two cents). Five years ago, October 27, 1992, the Federal debt stood at $4,064,077,000,000 (Four trillion, sixty-four billion, seventy-seven million). Ten years ago, October 27, 1987, the Federal debt stood at $2,385,921,000,000 (Two trillion, three hundred eighty-five billion, nine hundred twenty-one million). Fifteen years ago, October 27, 1982, the Federal debt stood at $1,141,248,000,000 (One trillion, one hundred forty-one billion, two hundred forty-eight million). Twenty-five years ago, October 27, 1972, the Federal debt stood at $439,190,000,000 (Four hundred thirty-nine billion, one hundred ninety million) which reflects a debt increase of nearly $5 trillion-- $4,988,717,147,573.22 (Four trillion, nine hundred eighty-eight billion, seven hundred seventeen million, one hundred forty-seven thousand, five hundred seventy-three dollars and twenty-two cents) during the past 25 years.

Mr. HELMS

Mr. HELMS. Mr. President, I move to reconsider the vote by which the nomination was confirmed.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business Friday, October 24, 1997, the Federal debt stood at $5,425,466,348,255.95. (Five trillion, four hundred twenty-five billion, four hundred sixty-six million, three hundred forty-eight thousand, two hundred fifty-five dollars and ninety-five cents). One year ago, October 24, 1996, the Federal debt stood at $5,232,047,000,000 (Five trillion, two hundred thirty-two billion, forty-seven million). Twenty-five years ago, October 24, 1972, the Federal debt stood at $438,275,000,000 (Four hundred thirty-eight billion, two hundred seventy-five million) which reflects a debt increase of nearly $5 trillion--$4,987,191,348,255.95 (Four trillion, nine hundred eighty- seven billion, one hundred ninety-one million, three hundred forty- eight thousand, two hundred fifty-five dollars and ninety-five cents) during the past 25 years.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business yesterday, Thursday, October 23, 1997, the Federal debt stood at $5,424,897,442,383.46. (Five trillion, four hundred twenty-four billion, eight hundred ninety-seven million, four hundred forty-two thousand, three hundred eighty-three dollars and forty-six cents) One year ago, October 23, 1996, the Federal debt stood at $5,229,624,000,000. (Five trillion, two hundred twenty-nine billion, six hundred twenty-four million) Five years ago, October 23, 1992, the Federal debt stood at $4,061,912,000,000. (Four trillion, sixty-one billion, nine hundred twelve million) Ten years ago, October 23, 1987, the Federal debt stood at $2,384,077,000,000 (Two trillion, three hundred eighty-four billion, seventy-seven million) which reflects a debt increase of more than $3 trillion--$3,040,820,442,383.46 (Three trillion, forty billion, eight hundred twenty million, four hundred forty-two thousand, three hundred eighty-three dollars and forty-six cents) during the past 10 years.

Mr. HELMS

Mr. HELMS. Mr. President, I, Senator Faircloth, Senator Lott, Senator Breaux, Senator Hollins, Senator Bingaman, Senator Brownback, and Senator Inouye are submitting today a sense-of-the-Senate resolution which commends the administration for its actions in attempting to end the Japanese blockade of American ships who wish to use Japanese port facilities. We are also urging the administration to remain firm and stand behind the Federal Maritime Commission in these negotiations with the Government of Japan. This issue is a no brainer. The Japanese are simply throwing up a blockade against American ships, who seek to dock at Japanese ports. Mr. President, this protectionist stand has increased cost of shipping for the American consumer and all American ocean carriers and their customers. We simply will not tolerate that kind of treatment from Japan or any other trading partner. The Federal Maritime Commission is to be commended for taking a tough line toward the Japanese port authorities. We encourage the administration to stand squarely behind the Commission's efforts to achieve fairness for American ships, especially because we allow the Japanese open access to our ports. There is the Biblical saying of ``Do unto others as you would have them do unto you.'' The Japanese version is the complete reverse of that. We accommodate Japanese shipping and we should expect no less of them. Mr. President, I urge the Senate to swiftly adopt this resolution.

Mr. HELMS

Mr. HELMS. Mr. President, I too am pleased to be an original cosponsor of Senator Ford's bill, titled the Long-term Economic Assistance for Farmers Act (S. 1310). The able senior Senator from Kentucky is to be commended for offering this legislation. Mr. President, as farmers and rural communities in tobacco-growing States come to terms with the national tobacco settlement, this bill will address some of the needs sure to arise during this critical economic adjustment period. I believe this legislation is a good starting point for helping these farmers, their families, and their communities. Obviously, it is too much to hope that everybody affected by the settlement will be satisfied with every provision in this bill, but it is important that we begin to take steps to ensure farmers the same stability and predictability that the tobacco companies sought when they negotiated the national tobacco settlement. Mr. President, let me make it clear that--and I believe Senator Ford and all other supporters of this legislation agree--that this is only a starting point. It may be--after consultation with growers, companies and other affected parties--that only minor changes in this legislation need to be made. Or, it may be--that a significant overhaul in our approach to this issue is needed. Whatever the future holds, of this tobacco growers may be assured: I will do everything proper in my power to protect their interests. I have often been criticized for standing up for the livelihoods of tobacco farmers--and I suppose I will be criticized many times more in the future. Let the critics proceed, but I shall never retreat from my convictions that the hard-working families deserve to be recognized for the good citizens and splendid families that they are. So, Mr. President, again I commend my friend from Kentucky, Mr. Ford, for his tireless effort to protect tobacco farmers, and I am honored to stand with him once again.

Mr. HELMS

Mr. HELMS. Mr. President, I too am pleased to be an original cosponsor of Senator Ford's bill, titled the Long-term Economic Assistance for Farmers Act (S. 1310). The able senior Senator from Kentucky is to be commended for offering this legislation. Mr. President, as farmers and rural communities in tobacco-growing States come to terms with the national tobacco settlement, this bill will address some of the needs sure to arise during this critical economic adjustment period. I believe this legislation is a good starting point for helping these farmers, their families, and their communities. Obviously, it is too much to hope that everybody affected by the settlement will be satisfied with every provision in this bill, but it is important that we begin to take steps to ensure farmers the same stability and predictability that the tobacco companies sought when they negotiated the national tobacco settlement. Mr. President, let me make it clear that--and I believe Senator Ford and all other supporters of this legislation agree--that this is only a starting point. It may be--after consultation with growers, companies and other affected parties--that only minor changes in this legislation need to be made. Or, it may be--that a significant overhaul in our approach to this issue is needed. Whatever the future holds, of this tobacco growers may be assured: I will do everything proper in my power to protect their interests. I have often been criticized for standing up for the livelihoods of tobacco farmers--and I suppose I will be criticized many times more in the future. Let the critics proceed, but I shall never retreat from my convictions that the hard-working families deserve to be recognized for the good citizens and splendid families that they are. So, Mr. President, again I commend my friend from Kentucky, Mr. Ford, for his tireless effort to protect tobacco farmers, and I am honored to stand with him once again.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business yesterday, Wednesday, October 22, 1997, the Federal debt stood at $5,421,844,508,272.92. (Five trillion, four hundred twenty-one billion, eight hundred forty-four million, five hundred eight thousand, two hundred seventy-two dollars and ninety-two cents) One year ago, October 22, 1996, the Federal debt stood at $5,228,756,000,000. (Five trillion, two hundred twenty- eight billion, seven hundred fifty-six million) Five years ago, October 22, 1992, the Federal debt stood at $4,062,097,000,000. (Four trillion, sixty-two billion, ninety-seven million) Ten years ago, October 22, 1987, the Federal debt stood at $2,384,316,000,000. (Two trillion, three hundred eighty-four billion, three hundred sixteen million) Fifteen years ago, October 22, 1982, the Federal debt stood at $1,140,017,000,000 (One trillion, one hundred forty billion, seventeen million) which reflects a debt increase of more than $4 trillion-- $4,281,827,508,272.92 (Four trillion, two hundred eighty-one billion, eight hundred twenty-seven million, five hundred eight thousand, two hundred seventy-two dollars and ninety-two cents) during the past 15 years.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business yesterday, Tuesday, October 21, 1997, the Federal debt stood at $5,420,383,941,176.62. (Five trillion, four hundred twenty billion, three hundred eighty-three million, nine hundred forty-one thousand, one hundred seventy-six dollars and sixty-two cents) One year ago, October 21, 1996, the Federal debt stood at $5,227,288,000,000. (Five trillion, two hundred twenty-seven billion, two hundred eighty-eight million) Five years ago, October 21, 1992, the Federal debt stood at $4,060,086,000,000. (Four trillion, sixty billion, eighty six million) Ten years ago, October 21, 1987, the Federal debt stood at $2,384,932,000,000. (Two trillion, three hundred eighty-four billion, nine hundred thirty-two million) Fifteen years ago, October 21, 1982, the Federal debt stood at $1,140,014,000,000 (One trillion, one hundred forty billion, fourteen million) which reflects a debt increase of more than $4 trillion-- $4,280,369,941,176.62 (Four trillion, two hundred eighty billion, one hundred sixty-nine million, nine hundred forty-one thousand, one hundred seventy-six dollars and sixty-two cents) during the past 15 years.

Mr. HELMS

Mr. HELMS. Mr. President, the American Petroleum Institute reports that for the week ending October 17, the United States imported 7,927,000 barrels of oil each day, 204,000 barrels less than the 8,131,000 imported each day during the same week a year ago. While this is one of the few weeks that Americans imported less oil than the same week a year ago, Americans still relied on foreign oil for 55.4 percent of their needs last week, and there are no signs that the upward spiral will abate. Before the Persian Gulf War, the United States obtained approximately 45 percent of its oil supply from foreign countries. During the Arab oil embargo in the 1970's, foreign oil accounted for only 35 percent of America's oil supply. Anybody else interested in restoring domestic production of oil? By U.S. producers using American workers? Politicians had better ponder the economic calamity sure to occur in America if and when foreign producers shut off our supply--or double the already enormous cost of imported oil flowing into the United States--now 7,927,000 barrels a day.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business yesterday, Monday, October 20, 1997, the Federal debt stood at $5,418,457,770,302.08. (Five trillion, four hundred eighteen billion, four hundred fifty-seven million, seven hundred seventy thousand, three hundred two dollars and eight cents) Five years ago, October 20, 1992, the Federal debt stood at $4,059,070,000,000. (Four trillion, fifty-nine billion, seventy million) Ten years ago, October 20, 1987, the Federal debt stood at $2,384,494,000,000. (Two trillion, three hundred eighty-four billion, four hundred ninety-four million) Fifteen years ago, October 20, 1982, the Federal debt stood at $1,137,638,000,000. (One trillion, one hundred thirty-seven billion, six hundred thirty-eight million) Twenty-five years ago, October 20, 1972, the Federal debt stood at $438,262,000,000 (Four hundred thirty-eight billion, two hundred sixty- two million) which reflects a debt increase of more than $5 trillion-- $4,980,195,770,302.08 (Four trillion, nine hundred eighty billion, one hundred ninety-five million, seven hundred seventy thousand, three hundred two dollars and eight cents) during the past 25 years.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business Friday, October 17, 1997, the Federal debt stood at $5,418,064,201,028.31. (Five trillion, four hundred eighteen billion, sixty-four million, two hundred one thousand, twenty-eight dollars and thirty-one cents) One year ago, October 17, 1996, the Federal debt stood at $5,226,593,000,000 (Five trillion, two hundred twenty-six billion, five hundred ninety-three million) Twenty-five years ago, October 17, 1972, the Federal debt stood at $436,027,000,000 (Four hundred thirty-six billion, twenty-seven million) which reflects a debt increase of nearly $5 trillion-- $4,982,037,201,028.31 (Four trillion, nine hundred eighty-two billion, thirty-seven million, two hundred one thousand, twenty-eight dollars and thirty-one cents) during the past 25 years.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business yesterday, Wednesday, October 8, 1997, the Federal debt stood at $5,412,240,204,620.07. (Five trillion, four hundred twelve billion, two hundred forty million, two hundred four thousand, six hundred twenty dollars and seven cents) One year ago, October 8, 1996, the Federal debt stood at $5,221,529,000,000. (Five trillion, two hundred twenty-one billion, five hundred twenty-nine million) Five years ago, October 8, 1992, the Federal debt stood at $4,052,485,000,000. (Four trillion, fifty-two billion, four hundred eighty-five million) Ten years ago, October 8, 1987, the Federal debt stood at $2,372,340,000,000. (Two trillion, three hundred seventy-two billion, three hundred forty million) Fifteen years ago, October 8, 1982, the Federal debt stood at $1,132,671,000,000 (One trillion, one hundred thirty-two billion, six hundred seventy-one million) which reflects a debt increase of more than $4 trillion--$4,279,569,204,620.07 (Four trillion, two hundred seventy-nine billion, five hundred sixty-nine million, two hundred four thousand, six hundred twenty dollars and seven cents) during the past 15 years.

Mr. HELMS

Mr. HELMS. Mr. President, the American Petroleum Institute reports that for the week ending October 3, the United States imported 9,492,000 barrels of oil each day, 1,607,000 barrels more than the 7,885,000 imported each day during the same week a year ago. Americans relied on foreign oil for 59.9 percent of their needs last week, and there are no signs that the upward spiral will abate. Before the Persian Gulf war, the United States obtained approximately 45 percent of its oil supply from foreign countries. During the Arab oil embargo in the 1970's, foreign oil accounted for only 35 percent of America's oil supply. Anybody else interested in restoring domestic production of oil by U.S. producers using American workers? Politicians had better ponder the economic calamity sure to occur in America if and when foreign producers shut off our supply--or double the already enormous cost of imported oil flowing into the United States--now 9,492,000 barrels a day.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business yesterday, Tuesday, October 7, 1997, the Federal debt stood at $5,415,085,048,979.17. (Five trillion, four hundred fifteen billion, eighty-five million, forty-eight thousand, nine hundred seventy-nine dollars and seventeen cents) One year ago, October 7, 1996, the Federal debt stood at $5,221,842,000,000. (Five trillion, two hundred twenty-one billion, eight hundred forty-two million) Five years ago, October 7, 1992, the Federal debt stood at $4,061,155,000,000. (Four trillion, sixty-one billion, one hundred fifty-five million) Ten years ago, October 7, 1987, the Federal debt stood at $2,377,991,000,000. (Two trillion, three hundred seventy-seven billion, nine hundred ninety-one million) Fifteen years ago, October 7, 1982, the Federal debt stood at $1,131,630,000,000 (One trillion, one hundred thirty-one billion, six hundred thirty million) which reflects a debt increase of more than $4 trillion--$4,283,455,048,979.17 (Four trillion, two hundred eighty- three billion, four hundred fifty-five million, forty-eight thousand, nine hundred seventy-nine dollars and seventeen cents) during the past 15 years.