FOR IMMEDIATE RELEASE
CONTACT: Kate Dwyer
September 14, 2000
(202) 225-3031
 
RYAN CALLS ON PRESIDENT TO WORK WITH CONGRESS TO PAY DOWN DEBT
 
Surplus Should Be Used for Debt Reduction, Not New Government Spending

WASHINGTON – First District Congressman Paul Ryan today expressed concern about the tone the Administration has taken this week in discussing plans for the budget surplus. Ryan emphasized the need to use the surplus wisely to strengthen Social Security and Medicare and pay off the public debt.

"We all need to be fully committed to paying down the debt," said Ryan. "Our children and grandchildren shouldn't be saddled with Washington's bills, and now is the time to address this. That's why I support the House budget plan that puts the government on a path to eliminate the public debt by 2013. I'm concerned about the President's reluctance to resolve to devote the lion's share of next year's surplus to debt reduction. I urge him to accept this challenge and avoid squandering the surplus on a government spending spree."

Earlier this week, Congressional Republican leaders asked President Clinton to join them in committing 90% of next year's surplus to paying off the public debt. The President said he viewed paying down the debt as a priority; however, he also said he was not sure it could be done in the 2001 fiscal budget. Clinton was quoted in The New York Times on September 13 as stating: "Whether we can do it this year or not depends upon what the various spending commitments are."

“Yesterday, House Democrats sustained the President's veto of marriage penalty tax relief," noted Ryan. "This was a terrible shame, and I regret that many married couples throughout Wisconsin will continue paying higher taxes than they should as a result. At the very least, we should all be able to find agreement on paying down the debt. If the Administration won't commit to this now, I'm afraid we'll see more taxpayer money going to Washington bureaucracy instead of debt reduction."

"We're going into the end of the fiscal year, and there's a big battle ahead in terms of the budget," Ryan said. "The question is: do we spend more of the surplus on federal agencies or pay down the public debt? This is the choice before us. I urge the President to side with fiscal responsibility and help us pay down the debt. Washington doesn't need more of the surplus – we need to pay down the public debt."

"Paying off the public debt has long been a priority for me, particularly because it helps advance other critical goals such as strengthening Social Security," said Ryan. "Earlier this year, I proposed legislation that would funnel the savings from successful amendments that reduce or cut spending into debt reduction. And I will continue working with my colleagues in the House to eliminate the public debt, for the sake of future taxpayers," pledged Ryan.