Statement Urging Senate Approval of the Balanced Budget and Emergency Deficit Control Bill

October 6, 1985

This is a momentous day for the United States Senate. Zero hour is approaching. By tomorrow, the Federal Government's cash balances will be virtually exhausted and we will be facing a financial emergency. The choice before the Senate is clear: to meet its responsibilities by approving the Gramm-Rudman-Hollings amendment to bring deficits down, thereby permitting the debt ceiling increase to pass, or to resort to a temporary quick fix that will only postpone the day of reckoning and raise the price all of us must pay. This latter course would be imprudent, unwise, and unsatisfactory. The American people have grown very weary of delays, excuses, and inaction. They cannot accept that this government is incapable of living within a reasonable budget, when their families can and do live within their budgets.

I'm confident that the people are united with me, the Republican leadership, and many other Republicans and Democrats in urging the Senate: Seize this moment of opportunity, move now to pass the historic Gramm-Rudman-Hollings amendment that will deal decisively with deficits and give our nation a balanced budget by 1990. There is no problem that we Americans cannot fix if only we have the faith, unity, and courage to act. The days of delays have run out.