Republicans Take Credit For Projected Budget Surplus

WASHINGTON (March 4) -- House Republicans are taking credit for the Congressional Budget Office's projected $8 billion surplus for 1998.

House Budget Chairman John Kasich (R-Ohio) pointed out that "the last time this happened was when we walked on the moon," nearly 30 years ago.

House Speaker Newt Gingrich (R-Ga.) said in the summer of 1994, before Republicans took control of the House, "everyone was projecting deficits for the rest of our lives."

Republican-led reforms paved the way for the budget surplus, Gingrich said, "because we reformed welfare, because we cut discretionary spending, because we reformed the entitlements, because we were prepared to begin the process of change in health, in things like medical savings accounts."

Gingrich also gave Republicans credit for dropping interest rates, surging revenues, and for producing a healthier economy.

The surplus is announced at the same time that members from both parties are pushing plans for how to use it, cutting taxes, or boosting spending.

President Bill Clinton has proposed solving the problems of the Social Security system before touching the surplus.

Wednesday March 4, 1998

• House Approves Ballot On Puerto Rico's Status
• Rep. Coburn Can Continue To Practice Medicine
• Smear Polling Draws Criticism From Lawmakers
• Lewinsky's First Lawyer Challenges Starr Subpoena
• Kemp Gets A Wake-Up Call At Southern GOP Meeting
• Republicans Take Credit For Projected Budget Surplus
• Judge Orders New Miami Mayoral Election
• Clinton Praises FDR At TIME Gala
• White House Scandal At A Glance
• Senate Passes Drunken Driving Amendment