Jesse Helms

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business yesterday, Monday, April 29, 1996, the Federal debt stood at $5,096,726,647,358.55. On a per capita basis, every man, woman, and child in America owes $19,251.62 as his or her share of that debt.

Mr. HELMS

Mr. HELMS. I will agree if the Senator will agree to have 10-minute votes after the first one in the series that the unanimous-consent request would follow.

Mr. HELMS. I will object unless it is made clear in the unanimous- consent request that the first vote be 15 minutes and the succeeding three be 10 minutes each.

Mr. HELMS. Very well. In that case, I have no objection, Mr. President.

Mr. HELMS. Reserving the right to object, Mr. President.

Mr. HELMS

Mr. HELMS. Mr. President, a couple of Sunday afternoons ago, several hundred of us gathered at the Baptist Church on the campus of what, until mid-20th century, was Wake Forest College, the marvelous institution that I attended and of which I shall always be proud. (Wake Forest College moved to Winston-Salem in 1954 and is now one of the Nation's prominent universities.) The multitude came on April 14 to pay our last respects to a great American, Dr. I. Beverly Lake, Sr., who had passed away a couple of days earlier. At the April 14 services for Dr. Lake, a eulogy was delivered by one of North Carolina's most prominent present-day citizens, Dr. Norman Adrian Wiggins, who, to all of us who know him, is simple Ed Wiggins, our friend. Mr. President, as Ed Wiggins spoke that afternoon, I was both touched and inspired, yes, but I was also grateful for the blessings of having known both Dr. Lake and Ed Wiggins and for having them as treasured friends. Dr. Norman Adrian Wiggins is president and professor of law at the rapidly growing Baptist institution in North Carolina, Campbell University, of which years ago, I was honored to serve as trustee. But, Mr. President, my purpose today is to enter into the Congressional Record the beautiful, caring eulogy to Dr. Lake delivered by Ed Wiggins on Sunday, April 14. I ask unanimous consent that it be printed in the Record.

Mr. HELMS

Mr. HELMS. Mr. President, the impression will not go away: The $5 trillion Federal debt stands today as an increasingly grotesque parallel to the energizer bunny that keeps moving and moving and moving on television--precisely in the same manner and to the same extent that the President is allowing the Federal debt to keep going up and up and up into the stratosphere. A lot of politicians like to talk a good game--``talk'' is the operative word here--about cutting Federal spending and thereby bringing the Federal debt under control. But watch how they vote on spending bills. Mr. President, as of the close of business Friday, April 26, the exact Federal debt stood at $5,096,090,106,286.92 or $19,250.20 per man, woman, child on a per capita basis.

Mr. HELMS

Mr. HELMS. Mr. President, I think so often of that memorable evening in 1972 when the television networks reported that I had won the Senate race in North Carolina. At first, I was stunned because I had never been confident that I would be the first Republican in history to be elected to the U.S. Senate by the people of North Carolina. When I got over that, I made a commitment to myself that I would never fail to see a young person, or a group of young people, who wanted to see me. I have kept that commitment and it has proved enormously meaningful to me because I have been inspired by the estimated 60,000 young people with whom I have visited during the 23 years I have been in the Senate. A large percentage of them are greatly concerned about the total Federal debt which recently exceeded $5 trillion. Of course, Congress is responsible for creating this monstrous debt which coming generations will have to pay. Mr. President, the young people and I almost always discuss the fact that under the U.S. Constitution, no President can spend a dime of Federal money that has not first been authorized and appropriated by both the House and Senate of the United States. That is why I began making these daily reports to the Senate on February 25, 1992. I decided that it was important that a daily record be made of the precise size of the Federal debt which, at the close of business yesterday, Wednesday, April 24, stood at $5,110,704,059,629.39. This amounts to $19,307.33 for every man, woman, and child in America on a per capita basis. The increase in the national debt since my report yesterday--which identified the total Federal debt as of close of business on Tuesday, April 23, 1996--shows an increase of more than 4 billion dollars-- $4,331,633,680.00, to be exact. That 1-day increase is enough to match the money needed by approximately 642,294 students to pay their college tuitions for 4 years.

Mr. HELMS

Mr. HELMS. Mr. President, the American Petroleum Institute reports that for the week ending April 19, the United States imported 7,300,000 barrels of oil each day--712,000 barrels fewer than the 8,012,000 barrels imported during the same period a year ago. This is one of those rare weeks when less oil was imported in 1996 than in 1995. Nevertheless, as the box scores I regularly insert into the Record indicate, the trend is steadily upward. Americans now rely on foreign oil for more than 50 percent of their needs, and there is no sign that this upward trend will abate. Before the Persian Gulf war, the United States obtained 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 interested in restoring domestic production of oil--by U.S. producers using American workers? Politicians had better ponder the calamity that will result if and when foreign producers shut off our supply, or double the already enormous cost of imported oil flowing into the United States.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business yesterday, Tuesday, April 23, 1996, the Federal debt stood at $5,106,372,425,943.99. On a per capita basis, every man, woman, and child in America owes $19,291.37 as his or her share of that debt.

Mr. HELMS

Mr. HELMS. Mr. President, 2\1/2\ years ago, 18 American soldiers were gunned down in the streets of Mogadishu, Somalia. What happened October 3, 1993, in Somalia was another one of those tragic mistakes. U.S. servicemen should not be asked to risk their lives in so-called peacekeeping missions where there is really no peace, and where no U.S. national interests are at stake. As the last of United States forces pull out of Haiti, the American people are learning that Operation Uphold Democracy was not the resounding success President Clinton led us to believe. The bottom line, it seems to me, is that America's military cannot achieve what the people and leaders of Somalia and Haiti refuse to do. This so-called nation building is fanciful rhetoric for fleecing the American taxpayers. I had hoped and prayed that President Clinton had learned his lesson from Somalia, and Haiti, but President Clinton has already landed several hundred Marines, from Camp Lejeune, NC, inside Liberia. More than 1,600 Marines and 1,900 sailors on warships are awaiting further orders. But, Liberia is in, quite literally, a state of anarchy, and I fear there is little the United States can do about it. Consider, Mr. President, that since 1990, American taxpayers have given Liberia--a country of 3 million people--at least $429 million of foreign aid, according to A.I.D.--and President Clinton proposes to forgive Liberian debt to the American taxpayers. And what has all this assistance accomplished? Since the outbreak of the civil war in 1989, intensive fighting has been the cause of the United States having to evacuate Americans and others from the country on three separate occasions. tens of thousands of Liberians are dead and thousands more fled. Tragically, the lives saved by $429 million in U.S. foreign aid are today being gunned-down at the hands of heavily armed drunken teenagers, looting the capital city of Monrovia, raping and killing for sport. The so-called leaders in Liberia, as in Somalia, are bloodthirsty warlords who are more vicious criminals than national leaders. In fact, one warlord, Charles Taylor, escaped from Plymouth County Jail in Massachusetts in 1985. Mr. President, on April 15, the Foreign Relations Committee was assured that if United States Marines went into Liberia, they would only be protecting the United States Embassy and assisting with evacuations, although all Americans who have asked to leave are already evacuated. The Sunday Washington Times, however, reported that several hundred Marines landed in Liberia over the weekend, and that they ``would be able to provide humanitarian assistance.'' This makes me very concerned about mission creep. Congress does not want United States Marines hunting down Liberian warlords, as in Somalia, or picking up trash on the streets of Monrovia, as in Port-au-Prince. Mr. President, there are no United States interests in Liberia worth the life of even one United States service man or woman. I have written President Clinton to raise a number of questions about his policy. Congress and the American people deserve answers. Of course, I pray the President does not get the United States into another Somalia or Haiti. Mr President, I ask unanimous consent that my letter to the President be printed in the Record at the conclusion of my remarks.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business Monday, April 22, 1996, the Federal debt stood at $5,101,586,172,580.18. On a per capita basis, every man, woman, and child in America owes $19,273.81 as his or her share of that debt.

Mr. HELMS

Mr. HELMS. Mr. President, the impression will not go away: The $5 trillion Federal debt stands today as an increasingly grotesque parallel to the energizer bunny that keeps moving and moving and moving on television--precisely in the same manner and to the same extent that the President is allowing the Federal debt to keep going up and up and up into the stratosphere. A lot of politicians like to talk a good game--``talk'' is the operative word here--about cutting the Federal spending and thereby bringing the Federal debt under control. But watch how they vote on spending bills. Mr. President, as of the close of business Friday, April 19, 1996, the exact Federal debt stood at $5,100,053,596,414.66 or $19,268.51 per man, woman, and child on a per capita basis.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business Thursday, April 18, 1996, the Federal debt stood at $5,099,448,998,247.15. On a per capita basis, every man, woman, and child in America owes $19,267.75 as his or her share of that debt.

Mr. HELMS

Mr. HELMS. Mr. President, one of the many reasons for my having opposed the Clinton health plan was the well founded fear that the American people would have been denied their right to choose their medical care. The enormous bureaucracy of the Clinton plan made that apprehension a certainty--which is why the American people rejected it. In the interest of time, I will not offer my amendment to guarantee patients the freedom to choose their health care provider.--This amendment was originally approved by the Senate last October by a vote of 79 to 20 when we considered Medicare reform.--I have no doubt that this provision continues to have strong bipartisan support in the Senate. However, instead of offering the original amendment I submit this amendment to require the Department of Health and Human Services to conduct a study to make certain that any changes in the health insurance market will not result in the loss of the American people's freedom to choose their health care provider. Whether Congress considers Medicare reform or health insurance reform, patients must not be deprived of the right to choose their own doctors. Even when Congress attempts to provide access to health insurance, that is only half of the equation. Equally important is that patients must not find themselves unknowingly thrown into health care coverage that limits their freedom to choose their own health care providers. The purpose of my provisions is to provide to Congress the information Congress may need to evaluate whether patients continue to have direct access to specialist and choice of health care provider, both in-network and out-of-network, as we make changes to the health insurance market place. It will also determine the cost to the insurer of providing this freedom to choose, and if the premium dollar collected is effectively going toward patient care. This study will not only go a long way to provide our Nation with useful information about health care delivery, but it will also emphasize the importance of preserving the patient's freedom of choice when it comes to their own doctor.

Mr. HELMS

Mr. HELMS. Mr. President, more than 80 percent of Americans younger than 65 are covered by health insurance, but if one of them changes jobs, or is laid off, he or she may be denied health insurance because of a preexisting problem, or because his health insurance cannot move with him or her. A genuine fear therefore exists that the security of health insurance could very well be lost. In fact, opinion polls show that as many as one-third of employees fear that if they switch jobs they will be unable to obtain new health insurance. The American people believe, and I agree, that they should be able to change jobs without losing their health insurance. Congress needs to insist that health insurance be made portable so that the fear of losing their health insurance should not plague the American people when they change or lose their jobs. This bill permits insured employees who leave one employer to be covered immediately upon taking another job that offers employees health insurance, regardless of their health status. This bill does not establish community rating. Community rating is a grave threat to the insurance market. I have heard many cite the dismal failure of guaranteed issue in States such as New York. These States coupled guaranteed issue with price controls that kept premium prices equal for everyone regardless of age, health status, etc. This combination ensures collapse of the health insurance market. However, S. 1028 narrowly defines guaranteed issue in order to avoid the devastating effects of pushing healthy people out of the health insurance market. There must be a limit to preexisting condition restrictions that now prevent many citizens from obtaining or holding onto health insurance. I am convinced, Mr. President, that small businesses should be encouraged to form groups to build joint purchasing power when buying health insurance for their employees. These provisions of the Kassebaum bill will be welcome and overdue improvements in the health insurance market, and I wholeheartedly support them. However, Mr. President, in the debate on health insurance reform, perhaps the most innovative solution has been given the shortest shrift--the medical savings account. This solution--that will provide the greatest freedom--has been successfully used by many businesses to keep their health care costs down and employee satisfaction up. In a truly American way, medical savings accounts harness the free enterprise profit motive to promote sorely needed efficiencies in the health care economy. MSA's confer upon individuals an incentive, a reason, to spend their health care dollars wisely by turning part of the savings over to the employees, in effect rewarding efficiency. Mr. President, many private businesses are already using cash incentives and medical savings accounts to reduce their health care costs while, at the same time, achieving great employee satisfaction with the health care afforded them. One company cut its health care costs significantly. In 1992, Forbes magazine was spending $2.3 million per year for health insurance from CIGNA at an average cost of about $5,000 per employee. In order to encourage employees to be more cost conscious, Malcolm Forbes, Jr., decided to reward his employees with a bonus for not filing major- medical and dental claims. Forbes explained the choice to its employees: If, during the year, an employee minimized the number of claims filed with the insurance company, Forbes agreed to pay that employee a bonus of up to $1,200. Employees enthusiastically embraced this plan; insurance claims dropped dramatically. As of 1994, while premiums for other CIGNA clients rose between 21 and 25 percent, Forbes' major-medical premiums fell 17.6 percent. The obvious lesson learned from the Forbes example is that employees will control their health spending--if they are allowed to keep the savings. Of course, in the case of employees who are really sick, they file the necessary claims and receive bonuses in lesser amounts. Employees choosing to pay out-of-pocket for routine health expenses instead of filing claims, get the bonuses at the end of the year. Consider, Mr. President, how this kind of commonsense incentive will change the public attitudes about health care costs. For example, one Forbes employee regularly needs four different prescriptions filled, but as a result of the Forbes bonus program, this employee now shops around for the best price. Before, he didn't care how much a prescription cost because insurance paid it. And when insurance pays, we all pay, in the form of higher insurance premiums and lower income. Forbes is not the only company to benefit from an incentive-based program. Dominion Resources, a public utility holding company in Richmond, VA, has likewise developed an innovative method of reducing its health care expenses, a medical savings account. An MSA works: The employer buys its employees a health insurance policy with a high deductible. This kind of policy has two attributes: First, it protects the insured against catastrophic health care expenses; and second, its premiums are less expensive. The employer then establishes a special account for each employee to pay for routine medical treatment. What the employee does not spend from the account, he keeps. This incentive encouraged 75 percent of Dominion's employees to enroll in a high-deductible plan. And guess what--since 1990, Dominion's health care costs have risen less than 1 percent per year; premiums have not increased in 3 years. Forbes and Dominion Resources are but two examples of private industry enterprise coming up with health care solutions that work. Incentive-based solutions work for the company and they work for the employee. As one economist, Gerald Musgrave, put it, ``We have thousands of years of experience with how people handle their own money.'' So, why not let Americans continue to handle their own health care dollars and help them realize their role in cost savings? Time and time again, Americans have shown that they can and will make cost-conscious health care decisions when given a sensible incentive to do so. So, Mr. President, insurance can be made more accessible by assuring Americans that their policies will not be canceled because of an illness or when they are changing jobs. These are some obvious flaws in the market and I believe further progress can be made by addressing the Tax Code. But I am convinced that we're on the right track. Mr. President, I ask unanimous consent that an April 17, 1996 Wall Street Journal article entitled ``A Way Out of Soviet-Style Health Care'' by Milton Friedman be printed in the Record.

Mr. HELMS

Mr. HELMS. Mr. President, on Friday February 23, 1996, the Federal debt broke the 5 trillion dollar sound barrier for the first time in history. The records show that on that day, at the close of business, the debt stood at $5,017,056,630,040.53. Twenty years earlier, in 1976, the Federal debt stood at $629 billion, after the first 200 years of America's history, including two world wars. The total Federal debt in 1976, I repeat, stood at $629 billion. Then the big spenders went to work and the interest on the Federal debt really began to take off--and, presto, during the past 2 decades the Federal debt has soared into the stratosphere, increasing by more than $4 trillion in 2 decades--from 1976 to 1996. So, Mr. President, as of the close of business yesterday, Wednesday, April 17, 1996, the Federal debt stood--down to the penny--at $5,146,356,518,536.99. On a per capita basis, every man, woman and child in America owes $19,445.43 as his or her share of that debt. This enormous debt is a festering, escalating burden on all citizens and especially it is jeopardizing the liberty of our children and grandchildren. As Jefferson once warned, ``to preserve [our] independence, we must not let our leaders load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude.'' Isn't it about time that Congress heeded the wise words of the author of the Declaration of Independence?

Mr. HELMS

Mr. HELMS. Mr. President, the American Petroleum Institute reports that, for the week ending April 12, the U.S. imported 7,635,000 barrels of oil each day--1,155,000 barrels more than the 6,480,000 barrels imported during the same period a year ago. Americans now rely on foreign oil for more than 50 percent of their needs, and there are no signs that this upward trend will abate. Before the Persian Gulf war, the United States obtained about 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 better ponder the economic calamity that will occur in America if and when foreign producers shut off our supply, or double the already enormous cost of imported oil flowing into the U.S.--now 7,635,000 barrels a day. Mr. President, Joseph J. Romm and Charles B. Curtis wrote in the April 1996 Atlantic Monthly an extensive analysis of the impending crisis due to U.S. dependence on foreign oil. The article, ``Mideast Oil Forever?'' is very thorough and detailed--and I commend it to Senators and staff. At the very least, I hope Senators will read several paragraphs from this article under the subheading ``The Coming Oil Crisis.'' Mr. President, I ask unanimous consent that the text be printed in the Record.

Mr. HELMS

Mr. HELMS. Mr. President, I have mentioned many times that memorable evening in 1972 when the television networks reported that I had won the Senate race in North Carolina. At first, I was stunned because I had never been confident that I would be the first Republican in history to be elected to the U.S. Senate by the people of North Carolina. When I got over that, I made a commitment to myself that I would never fail to see a young person, or a group of young people, who wanted to see me. I have kept that commitment and it has proved enormously meaningful to me because I have been inspired by the estimated 60,000 young people with whom I have visited during the 23 years I have been in the Senate. A large percentage of them have been concerned about the total Federal debt which recently exceeded $5 trillion. Of course, Congress is responsible for creating this monstrous debt which coming generations will have to pay. Mr. President, the young people and I almost always discuss the fact that under the U.S. Constitution, no President can spend a dime of Federal money that has not first been authorized and appropriated by both the House and Senate of the United States. That is why I began making these daily reports to the Senate on February 25, 1992. I decided that it was important that a daily record be made of the precise size of the Federal debt which, at the close of business yesterday, Tuesday, April 16, stood at $5,142,250,889,027.95. This amounts to $19,430.38 for every man, woman, and child in America on a per capita basis. The increase in the national debt since my report yesterday--which identified the total Federal debt as of close of business on Monday, April 15, 1996--shows an increase of more than two billion dollars $2,239,481,250.00, to be exact. That 1-day increase is enough to match the money needed by approximately 332,070 students to pay their college tuitions for 4 years.

Mr. HELMS

Mr. HELMS. Mr. President, a lot of folks don't have the slightest idea about the enormity of the Federal debt. Occasionally, I ask friends, how many millions of dollars are there in a trillion? They think about it, voice some estimates, most of them wrong. One thing they do know is that it was the U.S. Congress that ran up the enormous Federal debt that is now over $5 trillion. To be exact, as of the close of business Monday, April 15, the total Federal debt--down to the penny--stood at $5,140,011,407,773.15. That's $5 trillion, 140 billion plus. Another sad statistic is that on a per capita basis, every man, woman and child in America owes $19,422.38. So Mr. President, how many million are there in a trillion? There are a million-million in a trillion, which means that the Federal Government owes more than $5 million-million. Sort of boggles the mind, doesn't it?

Mr. HELMS

Mr. HELMS. Mr. President, on March 14 of this year, one of the most impressive young men I have ever met came to my office, accompanied by his justifiably proud mother. Lucius Wade Edwards, 16, had just come from the White House. He had visited with First Lady Hillary Rodham Clinton who praised him for having been 1 of the 10 finalists in a contest sponsored by the National Endowment for the Humanities and the Voice of America. His father, John R. Edwards; his mother, Elizabeth Anania Edwards, and his younger sister, Kate, accompanied him to the White House living quarters for his visit with Mrs. Clinton. Wade was being honored for his having written a poignant essay entitled, What It Means To Be An American. Wade described going with his father to vote. It was, as I said at the outset, Mr. President, March 14, 1996, when Wade and his dear mother stopped by my office. Three weeks later, on April 4, Wade died in an automobile accident that involved no carelessness, no recklessness, no failure to wear his seatbelt. It was just one of those tragic things that happen, and it snuffed out the life of this remarkable young man. Mr. President, in a moment I shall ask unanimous consent that two important insertions into the Record be in order. The first will be the text of the award-winning essay written by Wade. It is entitled ``Fancy Clothes and Overalls.'' The second is an account, published in the Raleigh News and Observer on April 4, 1996, relating to the tragic death of Wade Edwards. I now ask unanimous consent, Mr. President, that the two aforementioned documents be printed in the Record at the conclusion of my remarks and in the order specified by me.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business Friday, April 12, 1996, the Federal debt stood at $5,145,722,307,691.76. On a per capita basis, every man, woman, and child in America owes $19,444.53 as his or her share of that debt.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business yesterday, March 28, 1996, the Federal debt stood at $5,071,791,748,467.89. On a per capita basis, every man, woman, and child in America owes $19,173.26 as his or her share of that debt.

Mr. HELMS

Mr. HELMS. Mr. President, in 1981 President Reagan proposed that individual retirement accounts be expanded to allow all workers to supplement their employer pensions with individual, tax-deferred savings. You see, Mr. President, Ronald Reagan understood the importance of increased national savings; he correctly perceived that the expanded use of IRA's would result in additional savings by families and individual citizens. The year President Reagan proposed the IRA expansion, citizens across America invested $4.8 billion in tax-deferred IRA accounts. Three years later, in 1984, the amount of contributions to IRA's had increased to more than $35 billion. And this past year, Mr. President, IRA contributions dwindled to about $7 billion--due in large part to the ramifications of the Tax Reform Act of 1986, which limited tax-deferred IRA contributions only to workers having no employer-sponsored retirement plans in which to invest and save--and to those citizens meeting an income test. Not surprisingly, these unwise restrictions diminished IRAs as an effective way to save for broad segments of society. It's high time that the Federal Government's tax policy again encourage the American people to save through tax-deferred IRA's. So, Mr. President, I'm introducing a resolution expressing the sense of the Senate that, if a budget agreement is reached this year, it should include expanded access to IRAs. The distinguished chairman of the Finance Committee, Senator Roth, along with the Senator from Louisiana. Mr. Breaux, have introduced an effective bill (S.12) to encourage savings and investment through IRAs. This legislation gradually restores the universal availability of the tax-deductible IRA. It also establishes the back-end IRA, a new investment instrument in which contributions are not tax deductible, but earnings are not taxed at withdrawal. The Congress should make certain that all Americans, including those who choose to work at home, have the opportunity to participate fully in IRA savings. Moreover, the tax system should allow investors to withdraw savings for a limited number of contingencies For example, families should be allowed to make penalty-free withdrawals for certain education expenses, first-time home purchases, catastrophic illness and long-term unemployment. These commonsense proposals must be included in any budget agreement struck this year, or any appropriate tax measure considered by the Senate. Mr. President, the saving rate in America has declined significantly in the past two decades. In the 1970's, Americans saved 8 percent of average disposable income. By 1994, that figure had dropped to 4 percent. The saving rate in Japan, for example, is three times that in America; Canadians save twice as much as Americans. According to the Federal Reserve Board Chairman, Alan Greenspan, reversing the low saving rate is one of the most important long-term economic challenges in America. If the availability of IRAs is expanded, savings will increase, and that will benefit the entire economy. A boost in savings will fuel added investment spending, which in turn drives the engine of economic growth and job creation. Likewise, it will reduce our reliance on foreign investment. The importance of individual savings has never been greater, Mr. President, as the current demographic situation makes clear. The population as a whole is aging and the ratio of retirees to workers is increasing in the 1940's, for example, approximately 40 workers contributed to Social Security for every beneficiary of Social Security. Today, there are fewer than four workers per beneficiary, and by 2025 the ration will have dropped to only 2.2 American workers per retiree. This is certain to place enormous stress on the public pension system in America. Younger workers, especially, should be encouraged to save for their retirement needs. Personal responsibility and personal savings are the wave of the future, Mr. President. The Senate should, therefore, include expanded savings opportunities in any future budget agreement, or in any appropriate tax measure to come before the Senate.

Mr. HELMS

Mr. HELMS. Mr. President, at the close of business yesterday, March 27, 1996, the Federal debt stood at $5,069,500,044,702.95. On a per capita basis, every man, woman and child in America owes $19,165.10 as his or her share of that debt. It is no wonder that babies come into this world crying.