Budget Resolution — Final Version. The final version (conference report) of the budget resolution (House Concurrent Resolution 95) would authorize federal spending for fiscal 2004 of $1,861 billion dollars with a deficit of $558 billion and an increase in the public debt ceiling of $984 billion. This planned deficit of $558 billion dwarfs the previous record federal deficit of $290 billion in 1992. The $984 billion increase in the public debt ceiling authorized in this bill constituted, under Rule XXVII of the House, approval of the debt limit increase bill (House Joint Resolution 51) without having to cast a separate vote just on increasing the debt ceiling. Subsequently the Senate passed H. J. Res. 51 and President Bush signed it into law, increasing the public debt ceiling by $984 billion (for a new total of $7.4 trillion) and giving Congress a green light to continue its fiscally irresponsible ways. This resolution also includes $400 billion for a Medicare prescription drug benefit for 2004-2013.
The Senate adopted the conference is similar to H.R. 2185. It would extend the Temporary Extended Unemployment Compensation Act of 2002 through November; however, it would provide 26 weeks of federal aid, compared to 13 weeks in H.R. 2185, to workers in all states who have exhausted their 26 weeks of state unemployment benefits. There would be an additional seven weeks of federal aid for workers in the states with the highest unemployment.
A point of order was raised against Kennedy’s amendment on the basis of Budget Act restrictions. The Senate failed to waive the Budget Act with respect to Kennedy’s amendment on May 15, 2003 by a vote of 50 to 49 (Roll Call 152). A three-fifths majority vote (60) of the total Senate is needed to waive the Budget Act. We have assigned pluses to the nays because federal aid to unemployed workers is unconstitutional.
