Budget Resolution — Democrat Substitute. The Democrat substitute amendment for the budget resolution (House Concurrent Resolution 95) would authorize federal spending for fiscal 2004 of $1,868 billion dollars with a deficit of $376 billion and an increase in the public debt ceiling of $839 billion. Although the proposed deficit of $376 billion would be smaller than the $558 billion deficit finally authorized in the conference report, it would still be much larger than the previous record deficit of $290 billion in 1992. Similarly, although the proposed $839 billion increase in the public debt ceiling would be smaller than the $984 billion increase finally authorized in the conference report, it would still be a record-breaking debt limit increase approaching $1 trillion in size. This amendment would also include a $528 billion prescription drug benefit for 2004-2013.
The House rejected the Democrat substitute amendment on March 20, 2003 by a vote of 192 to 236 (Roll Call 81). We have assigned pluses to the nays because this substitute amendment was fiscally irresponsible.
