Union Calendar No. 54

104TH CONGRESS

1ST SESSION H. CON. RES. 67

[Report No. 104–120]

CONCURRENT RESOLUTION

Setting forth the congressional budget for the

1996, 1997, 1998, 1999, 2000, 2001, and 2002.United States Government for the fiscal years

MAY 15, 1995

Committed to the Committee of the Whole House on the

State of the Union and ordered to be printed
IV

Union Calendar No. 54

104TH CONGRESS

1ST SESSION H. CON. RES. 67

[Report No. 104–120]

Setting forth the congressional budget for the United States Government

for the fiscal years 1996, 1997, 1998, 1999, 2000, 2001, and 2002.

IN THE HOUSE OF REPRESENTATIVES

MAY 15, 1995

Mr. KASICH, from the Committee on the Budget, reported the following concurrent resolution; which was committed to the Committee of the Whole

House on the State of the Union and ordered to be printed

CONCURRENT RESOLUTION

Setting forth the congressional budget for the United States

Government for the fiscal years 1996, 1997, 1998, 1999,

2000, 2001, and 2002.

1 Resolved by the House of Representatives (the Senate

2 concurring),

3 SECTION 1. CONCURRENT RESOLUTION ON THE BUDGET

4 FOR FISCAL YEAR 1996.

5 The Congress determines and declares that this reso6 lution is the concurrent resolution on the budget for fiscal

7 year 1996, including the appropriate budgetary levels for
2

•HCON 67 RH

1 fiscal years 1997, 1998, 1999, 2000, 2001, and 2002, as

2 required by section 301 of the Congressional Budget Act

3 of 1974.

4 SEC. 2. RECOMMENDED LEVELS AND AMOUNTS.

5 The following budgetary levels are appropriate for the

6 fiscal years beginning on October 1, 1995, October 1,

7 1996, October 1, 1997, October 1, 1998, October 1, 1999,

8 October 1, 2000, and October 1, 2001:

9 (1) The recommended levels of Federal revenues are

10 as follows:

11 Fiscal year 1996: $1,057,500,000,000.

12 Fiscal year 1997: $1,058,500,000,000.

13 Fiscal year 1998: $1,099,600,000,000.

14 Fiscal year 1999: $1,138,700,000,000.

15 Fiscal year 2000: $1,189,300,000,000.

16 Fiscal year 2001: $1,247,200,000,000.

17 Fiscal year 2002: $1,316,600,000,000.

18 and the amounts by which the aggregate levels of Federal

19 revenues should be changed are as follows:

20 Fiscal year 1996: $14,987,000,000.

21 Fiscal year 1997: ¥$24,393,000,000.

22 Fiscal year 1998: ¥$34,772,000,000.

23 Fiscal year 1999: ¥$48,354,000,000.

24 Fiscal year 2000: ¥$58,836,000,000.

25 Fiscal year 2001: ¥$69,275,000,000.
3

•HCON 67 RH

1 Fiscal year 2002: ¥$71,859,000,000.

2 and the amounts for Federal Insurance Contributions Act

3 revenues for hospital insurance within the recommended

4 levels of Federal revenues are as follows:

5 Fiscal year 1996: $103,815,000,000.

6 Fiscal year 1997: $108,986,000,000.

7 Fiscal year 1998: $114,877,000,000.

8 Fiscal year 1999: $120,698,000,000.

9 Fiscal year 2000: $126,893,000,000.

10 Fiscal year 2001: $133,590,000,000.

11 Fiscal year 2002: $140,425,000,000.

12 (2) The appropriate levels of total new budget author13 ity are as follows:

14 Fiscal year 1996: $1,285,900,000,000.

15 Fiscal year 1997: $1,321,900,000,000.

16 Fiscal year 1998: $1,355,800,000,000.

17 Fiscal year 1999: $1,388,800,000,000.

18 Fiscal year 2000: $1,421,800,000,000.

19 Fiscal year 2001: $1,436,000,000,000.

20 Fiscal year 2002: $1,459,800,000,000.

21 (3) The appropriate levels of total budget outlays are

22 as follows:

23 Fiscal year 1996: $1,287,000,000,000.

24 Fiscal year 1997: $1,313,900,000,000.

25 Fiscal year 1998: $1,326,800,000,000.
4

•HCON 67 RH

1 Fiscal year 1999: $1,363,500,000,000.

2 Fiscal year 2000: $1,400,800,000,000.

3 Fiscal year 2001: $1,414,200,000,000.

4 Fiscal year 2002: $1,437,300,000,000.

5 (4) The amounts of the deficits are as follows:

6 Fiscal year 1996: ¥$229,500,000,000.

7 Fiscal year 1997: ¥$255,400,000,000.

8 Fiscal year 1998: ¥$227,200,000,000.

9 Fiscal year 1999: ¥$224,800,000,000.

10 Fiscal year 2000: ¥$211,500,000,000.

11 Fiscal year 2001: ¥$167,000,000,000.

12 Fiscal year 2002: ¥$120,700,000,000.

13 (5) The appropriate levels of the public debt are as

14 follows:

15 Fiscal year 1996: $5,195,000,000,000.

16 Fiscal year 1997: $5,516,100,000,000.

17 Fiscal year 1998: $5,809,800,000,000.

18 Fiscal year 1999: $6,099,700,000,000.

19 Fiscal year 2000: $6,374,300,000,000.

20 Fiscal year 2001: $6,614,400,000,000.

21 Fiscal year 2002: $6,806,100,000,000.

22 (6) The appropriate levels of total Federal credit ac23 tivity for the fiscal years beginning on October 1, 1995,

24 October 1, 1996, October 1, 1997, October 1, 1998, Octo-
5

•HCON 67 RH

1 ber 1, 1999, October 1, 2000, and October 1, 2001 are

2 as follows:

3 Fiscal year 1996:

4 (A) New direct loan obligations,

5 $37,600,000,000.

6 (B) New primary loan guarantee commit7 ments, $193,400,000,000.

8 Fiscal year 1997:

9 (A) New direct loan obligations,

10 $40,200,000,000.

11 (B) New primary loan guarantee commit12 ments, $187,900,000,000.

13 Fiscal year 1998:

14 (A) New direct loan obligations,

15 $42,300,000,000.

16 (B) New primary loan guarantee commit17 ments, $185,300,000,000.

18 Fiscal year 1999:

19 (A) New direct loan obligations,

20 $45,700,000,000.

21 (B) New primary loan guarantee commit22 ments, $183,300,000,000.

23 Fiscal year 2000:

24 (A) New direct loan obligations,

25 $45,800,000,000.
6

•HCON 67 RH

1 (B) New primary loan guarantee commit2 ments, $184,700,000,000.

3 Fiscal year 2001:

4 (A) New direct loan obligations,

5 $45,800,000,000.

6 (B) New primary loan guarantee commit7 ments, $186,100,000,000.

8 Fiscal year 2002:

9 (A) New direct loan obligations,

10 $46,100,000,000.

11 (B) New primary loan guarantee commit12 ments, $187,600,000,000.

13 SEC. 3. MAJOR FUNCTIONAL CATEGORIES.

14 The Congress determines and declares that the ap15 propriate levels of new budget authority, budget outlays,

16 new direct loan obligations, new primary loan guarantee

17 commitments, and new secondary loan guarantee commit18 ments for fiscal years 1996 through 2002 for each major

19 functional category are:

20 (1) National Defense (050):

21 Fiscal year 1996:

22 (A) New budget authority,

23 $267,300,000,000.

24 (B) Outlays, $265,100,000,000.

25 (C) New direct loan obligations, $0.
7

•HCON 67 RH

1 (D) New primary loan guarantee commit2 ments, $1,700,000,000.

3 (E) New secondary loan guarantee com4 mitments, $0.

5 Fiscal year 1997:

6 (A) New budget authority,

7 $269,300,000,000.

8 (B) Outlays, $265,300,000,000.

9 (C) New direct loan obligations, $0.

10 (D) New primary loan guarantee commit11 ments, $1,700,000,000.

12 (E) New secondary loan guarantee com13 mitments, $0.

14 Fiscal year 1998:

15 (A) New budget authority,

16 $277,300,000,000.

17 (B) Outlays, $265,300,000,000.

18 (C) New direct loan obligations, $0.

19 (D) New primary loan guarantee commit20 ments, $1,700,000,000.

21 (E) New secondary loan guarantee com22 mitments, $0.

23 Fiscal year 1999:

24 (A) New budget authority,

25 $281,300,000,000.
8

•HCON 67 RH

1 (B) Outlays, $271,300,000,000.

2 (C) New direct loan obligations, $0.

3 (D) New primary loan guarantee commit4 ments, $1,700,000,000.

5 (E) New secondary loan guarantee com6 mitments, $0.

7 Fiscal year 2000:

8 (A) New budget authority,

9 $287,300,000,000.

10 (B) Outlays, $279,300,000,000.

11 (C) New direct loan obligations, $0.

12 (D) New primary loan guarantee commit13 ments, $1,700,000,000.

14 (E) New secondary loan guarantee com15 mitments, $0.

16 Fiscal year 2001:

17 (A) New budget authority,

18 $287,300,000,000.

19 (B) Outlays, $279,300,000,000.

20 (C) New direct loan obligations, $0.

21 (D) New primary loan guarantee commit22 ments, $1,700,000,000.

23 (E) New secondary loan guarantee com24 mitments, $0.

25 Fiscal year 2002:
9

•HCON 67 RH

1 (A) New budget authority,

2 $287,200,000,000.

3 (B) Outlays, $279,200,000,000.

4 (C) New direct loan obligations, $0.

5 (D) New primary loan guarantee commit6 ments, $1,700,000,000.

7 (E) New secondary loan guarantee com8 mitments, $0.

9 (2) International Affairs (150):

10 Fiscal year 1996:

11 (A) New budget authority,

12 $15,800,000,000.

13 (B) Outlays, $17,000,000,000.

14 (C) New direct loan obligations,

15 $5,700,000,000.

16 (D) New primary loan guarantee commit17 ments, $16,300,000,000.

18 (E) New secondary loan guarantee com19 mitments, $0.

20 Fiscal year 1997:

21 (A) New budget authority,

22 $13,700,000,000.

23 (B) Outlays, $15,100,000,000.

24 (C) New direct loan obligations,

25 $5,700,000,000.
10

•HCON 67 RH

1 (D) New primary loan guarantee commit2 ments, $16,300,000,000.

3 (E) New secondary loan guarantee com4 mitments, $0.

5 Fiscal year 1998:

6 (A) New budget authority,

7 $11,300,000,000.

8 (B) Outlays, $13,300,000,000.

9 (C) New direct loan obligations,

10 $5,700,000,000.

11 (D) New primary loan guarantee commit12 ments, $16,300,000,000.

13 (E) New secondary loan guarantee com14 mitments, $0.

15 Fiscal year 1999:

16 (A) New budget authority,

17 $9,700,000,000.

18 (B) Outlays, $11,500,000,000.

19 (C) New direct loan obligations,

20 $5,700,000,000.

21 (D) New primary loan guarantee commit22 ments, $16,300,000,000.

23 (E) New secondary loan guarantee com24 mitments, $0.

25 Fiscal year 2000:
11

•HCON 67 RH

1 (A) New budget authority,

2 $10,500,000,000.

3 (B) Outlays, $10,000,000,000.

4 (C) New direct loan obligations,

5 $5,700,000,000.

6 (D) New primary loan guarantee commit7 ments, $16,300,000,000.

8 (E) New secondary loan guarantee com9 mitments, $0.

10 Fiscal year 2001:

11 (A) New budget authority,

12 $12,000,000,000.

13 (B) Outlays, $11,100,000,000.

14 (C) New direct loan obligations,

15 $5,700,000,000.

16 (D) New primary loan guarantee commit17 ments, $16,300,000,000.

18 (E) New secondary loan guarantee com19 mitments, $0.

20 Fiscal year 2002:

21 (A) New budget authority,

22 $12,000,000,000.

23 (B) Outlays, $10,700,000,000.

24 (C) New direct loan obligations,

25 $5,700,000,000.
12

•HCON 67 RH

1 (D) New primary loan guarantee commit2 ments, $16,300,000,000.

3 (E) New secondary loan guarantee com4 mitments, $0.

5 (3) General Science, Space, and Technology (250):

6 Fiscal year 1996:

7 (A) New budget authority,

8 $16,700,000,000.

9 (B) Outlays, $16,900,000,000.

10 (C) New direct loan obligations, $0.

11 (D) New primary loan guarantee commit12 ments, $0.

13 (E) New secondary loan guarantee com14 mitments, $0.

15 Fiscal year 1997:

16 (A) New budget authority,

17 $16,300,000,000.

18 (B) Outlays, $16,600,000,000.

19 (C) New direct loan obligations, $0.

20 (D) New primary loan guarantee commit21 ments, $0.

22 (E) New secondary loan guarantee com23 mitments, $0.

24 Fiscal year 1998:
13

•HCON 67 RH

1 (A) New budget authority,

2 $15,700,000,000.

3 (B) Outlays, $16,000,000,000.

4 (C) New direct loan obligations, $0.

5 (D) New primary loan guarantee commit6 ments, $0.

7 (E) New secondary loan guarantee com8 mitments, $0.

9 Fiscal year 1999:

10 (A) New budget authority,

11 $15,300,000,000.

12 (B) Outlays, $15,400,000,000.

13 (C) New direct loan obligations, $0.

14 (D) New primary loan guarantee commit15 ments, $0.

16 (E) New secondary loan guarantee com17 mitments, $0.

18 Fiscal year 2000:

19 (A) New budget authority,

20 $14,900,000,000.

21 (B) Outlays, $14,900,000,000.

22 (C) New direct loan obligations, $0.

23 (D) New primary loan guarantee commit24 ments, $0.
14

•HCON 67 RH

1 (E) New secondary loan guarantee com2 mitments, $0.

3 Fiscal year 2001:

4 (A) New budget authority,

5 $14,900,000,000.

6 (B) Outlays, $14,900,000,000.

7 (C) New direct loan obligations, $0.

8 (D) New primary loan guarantee commit9 ments, $0.

10 (E) New secondary loan guarantee com11 mitments, $0.

12 Fiscal year 2002:

13 (A) New budget authority,

14 $14,900,000,000.

15 (B) Outlays, $14,900,000,000.

16 (C) New direct loan obligations, $0.

17 (D) New primary loan guarantee commit18 ments, $0.

19 (E) New secondary loan guarantee com20 mitments, $0.

21 (4) Energy (270):

22 Fiscal year 1996:

23 (A) New budget authority,

24 $4,400,000,000.

25 (B) Outlays, $4,300,000,000.
15

•HCON 67 RH

1 (C) New direct loan obligations,

2 $1,200,000,000.

3 (D) New primary loan guarantee commit4 ments, $0.

5 (E) New secondary loan guarantee com6 mitments, $0.

7 Fiscal year 1997:

8 (A) New budget authority,

9 $3,900,000,000.

10 (B) Outlays, $3,200,000,000.

11 (C) New direct loan obligations,

12 $1,200,000,000.

13 (D) New primary loan guarantee commit14 ments, $0.

15 (E) New secondary loan guarantee com16 mitments, $0.

17 Fiscal year 1998:

18 (A) New budget authority,

19 $3,600,000,000.

20 (B) Outlays, $2,900,000,000.

21 (C) New direct loan obligations,

22 $1,200,000,000.

23 (D) New primary loan guarantee commit24 ments, $0.
16

•HCON 67 RH

1 (E) New secondary loan guarantee com2 mitments, $0.

3 Fiscal year 1999:

4 (A) New budget authority,

5 $3,900,000,000.

6 (B) Outlays, $3,100,000,000.

7 (C) New direct loan obligations,

8 $1,200,000,000.

9 (D) New primary loan guarantee commit10 ments, $0.

11 (E) New secondary loan guarantee com12 mitments, $0.

13 Fiscal year 2000:

14 (A) New budget authority,

15 $3,600,000,000.

16 (B) Outlays, $2,700,000,000.

17 (C) New direct loan obligations,

18 $1,200,000,000.

19 (D) New primary loan guarantee commit20 ments, $0.

21 (E) New secondary loan guarantee com22 mitments, $0.

23 Fiscal year 2001:

24 (A) New budget authority,

25 $3,600,000,000.
17

•HCON 67 RH

1 (B) Outlays, $2,500,000,000.

2 (C) New direct loan obligations,

3 $1,200,000,000.

4 (D) New primary loan guarantee commit5 ments, $0.

6 (E) New secondary loan guarantee com7 mitments, $0.

8 Fiscal year 2002:

9 (A) New budget authority,

10 $3,500,000,000.

11 (B) Outlays, $2,300,000,000.

12 (C) New direct loan obligations,

13 $1,200,000,000.

14 (D) New primary loan guarantee commit15 ments, $0.

16 (E) New secondary loan guarantee com17 mitments, $0.

18 (5) Natural Resources and Environment (300):

19 Fiscal year 1996:

20 (A) New budget authority,

21 $19,300,000,000.

22 (B) Outlays, $20,200,000,000.

23 (C) New direct loan obligations,

24 $100,000,000.
18

•HCON 67 RH

1 (D) New primary loan guarantee commit2 ments, $0.

3 (E) New secondary loan guarantee com4 mitments, $0.

5 Fiscal year 1997:

6 (A) New budget authority,

7 $19,100,000,000.

8 (B) Outlays, $19,900,000,000.

9 (C) New direct loan obligations,

10 $100,000,000.

11 (D) New primary loan guarantee commit12 ments, $0.

13 (E) New secondary loan guarantee com14 mitments, $0.

15 Fiscal year 1998:

16 (A) New budget authority,

17 $17,200,000,000.

18 (B) Outlays, $17,800,000,000.

19 (C) New direct loan obligations,

20 $100,000,000.

21 (D) New primary loan guarantee commit22 ments, $0.

23 (E) New secondary loan guarantee com24 mitments, $0.

25 Fiscal year 1999:
19

•HCON 67 RH

1 (A) New budget authority,

2 $18,600,000,000.

3 (B) Outlays, $19,100,000,000.

4 (C) New direct loan obligations,

5 $100,000,000.

6 (D) New primary loan guarantee commit7 ments, $0.

8 (E) New secondary loan guarantee com9 mitments, $0.

10 Fiscal year 2000:

11 (A) New budget authority,

12 $17,400,000,000.

13 (B) Outlays, $17,800,000,000.

14 (C) New direct loan obligations,

15 $100,000,000.

16 (D) New primary loan guarantee commit17 ments, $0.

18 (E) New secondary loan guarantee com19 mitments, $0.

20 Fiscal year 2001:

21 (A) New budget authority,

22 $17,900,000,000.

23 (B) Outlays, $18,200,000,000.

24 (C) New direct loan obligations,

25 $100,000,000.
20

•HCON 67 RH

1 (D) New primary loan guarantee commit2 ments, $0.

3 (E) New secondary loan guarantee com4 mitments, $0.

5 Fiscal year 2002:

6 (A) New budget authority,

7 $17,800,000,000.

8 (B) Outlays, $18,100,000,000.

9 (C) New direct loan obligations,

10 $100,000,000.

11 (D) New primary loan guarantee commit12 ments, $0.

13 (E) New secondary loan guarantee com14 mitments, $0.

15 (6) Agriculture (350):

16 Fiscal year 1996:

17 (A) New budget authority,

18 $13,000,000,000.

19 (B) Outlays, $11,800,000,000.

20 (C) New direct loan obligations,

21 $11,500,000,000.

22 (D) New primary loan guarantee commit23 ments, $5,700,000,000.

24 (E) New secondary loan guarantee com25 mitments, $0.
21

•HCON 67 RH

1 Fiscal year 1997:

2 (A) New budget authority,

3 $12,800,000,000.

4 (B) Outlays, $11,500,000,000.

5 (C) New direct loan obligations,

6 $11,500,000,000.

7 (D) New primary loan guarantee commit8 ments, $5,700,000,000.

9 (E) New secondary loan guarantee com10 mitments, $0.

11 Fiscal year 1998:

12 (A) New budget authority,

13 $11,600,000,000.

14 (B) Outlays, $10,400,000,000.

15 (C) New direct loan obligations,

16 $10,900,000,000.

17 (D) New primary loan guarantee commit18 ments, $5,700,000,000.

19 (E) New secondary loan guarantee com20 mitments, $0.

21 Fiscal year 1999:

22 (A) New budget authority,

23 $11,400,000,000.

24 (B) Outlays, $10,100,000,000.
22

•HCON 67 RH

1 (C) New direct loan obligations,

2 $11,600,000,000.

3 (D) New primary loan guarantee commit4 ments, $5,700,000,000.

5 (E) New secondary loan guarantee com6 mitments, $0.

7 Fiscal year 2000:

8 (A) New budget authority,

9 $10,200,000,000.

10 (B) Outlays, $9,000,000,000.

11 (C) New direct loan obligations,

12 $11,400,000,000.

13 (D) New primary loan guarantee commit14 ments, $5,700,000,000.

15 (E) New secondary loan guarantee com16 mitments, $0.

17 Fiscal year 2001:

18 (A) New budget authority,

19 $8,100,000,000.

20 (B) Outlays, $7,100,000,000.

21 (C) New direct loan obligations,

22 $11,100,000,000.

23 (D) New primary loan guarantee commit24 ments, $5,700,000,000.
23

•HCON 67 RH

1 (E) New secondary loan guarantee com2 mitments, $0.

3 Fiscal year 2002:

4 (A) New budget authority,

5 $8,100,000,000.

6 (B) Outlays, $7,000,000,000.

7 (C) New direct loan obligations,

8 $10,900,000,000.

9 (D) New primary loan guarantee commit10 ments, $5,700,000,000.

11 (E) New secondary loan guarantee com12 mitments, $0.

13 (7) Commerce and Housing Credit (370):

14 Fiscal year 1996:

15 (A) New budget authority,

16 $2,300,000,000.

17 (B) Outlays, ¥$6,900,000,000.

18 (C) New direct loan obligations,

19 $1,400,000,000.

20 (D) New primary loan guarantee commit21 ments, $123,100,000,000.

22 (E) New secondary loan guarantee com23 mitments, $0.

24 Fiscal year 1997:
24

•HCON 67 RH

1 (A) New budget authority,

2 $4,100,000,000.

3 (B) Outlays, ¥$2,600,000,000.

4 (C) New direct loan obligations,

5 $1,400,000,000.

6 (D) New primary loan guarantee commit7 ments, $123,100,000,000.

8 (E) New secondary loan guarantee com9 mitments, $0.

10 Fiscal year 1998:

11 (A) New budget authority,

12 $2,800,000,000.

13 (B) Outlays, ¥$4,700,000,000.

14 (C) New direct loan obligations,

15 $1,400,000,000.

16 (D) New primary loan guarantee commit17 ments, $123,100,000,000.

18 (E) New secondary loan guarantee com19 mitments, $0.

20 Fiscal year 1999:

21 (A) New budget authority,

22 $2,200,000,000.

23 (B) Outlays, ¥$3,000,000,000.

24 (C) New direct loan obligations,

25 $1,400,000,000.
25

•HCON 67 RH

1 (D) New primary loan guarantee commit2 ments, $123,100,000,000.

3 (E) New secondary loan guarantee com4 mitments, $0.

5 Fiscal year 2000:

6 (A) New budget authority,

7 $1,900,000,000.

8 (B) Outlays, ¥$2,200,000,000.

9 (C) New direct loan obligations,

10 $1,400,000,000.

11 (D) New primary loan guarantee commit12 ments, $123,100,000,000.

13 (E) New secondary loan guarantee com14 mitments, $0.

15 Fiscal year 2001:

16 (A) New budget authority,

17 $1,300,000,000.

18 (B) Outlays, ¥$2,500,000,000.

19 (C) New direct loan obligations,

20 $1,400,000,000.

21 (D) New primary loan guarantee commit22 ments, $123,100,000,000.

23 (E) New secondary loan guarantee com24 mitments, $0.

25 Fiscal year 2002:
26

•HCON 67 RH

1 (A) New budget authority,

2 $1,000,000,000.

3 (B) Outlays, ¥$2,600,000,000.

4 (C) New direct loan obligations,

5 $1,400,000,000.

6 (D) New primary loan guarantee commit7 ments, $123,100,000,000.

8 (E) New secondary loan guarantee com9 mitments, $0.

10 (8) Transportation (400):

11 Fiscal year 1996:

12 (A) New budget authority,

13 $40,500,000,000.

14 (B) Outlays, $38,800,000,000.

15 (C) New direct loan obligations,

16 $200,000,000.

17 (D) New primary loan guarantee commit18 ments, $0.

19 (E) New secondary loan guarantee com20 mitments, $0.

21 Fiscal year 1997:

22 (A) New budget authority,

23 $42,700,000,000.

24 (B) Outlays, $37,500,000,000.
27

•HCON 67 RH

1 (C) New direct loan obligations,

2 $200,000,000.

3 (D) New primary loan guarantee commit4 ments, $0.

5 (E) New secondary loan guarantee com6 mitments, $0.

7 Fiscal year 1998:

8 (A) New budget authority,

9 $43,500,000,000.

10 (B) Outlays, $36,600,000,000.

11 (C) New direct loan obligations,

12 $200,000,000.

13 (D) New primary loan guarantee commit14 ments, $0.

15 (E) New secondary loan guarantee com16 mitments, $0.

17 Fiscal year 1999:

18 (A) New budget authority,

19 $43,700,000,000.

20 (B) Outlays, $35,600,000,000.

21 (C) New direct loan obligations,

22 $200,000,000.

23 (D) New primary loan guarantee commit24 ments, $0.
28

•HCON 67 RH

1 (E) New secondary loan guarantee com2 mitments, $0.

3 Fiscal year 2000:

4 (A) New budget authority,

5 $44,300,000,000.

6 (B) Outlays, $34,900,000,000.

7 (C) New direct loan obligations,

8 $200,000,000.

9 (D) New primary loan guarantee commit10 ments, $0.

11 (E) New secondary loan guarantee com12 mitments, $0.

13 Fiscal year 2001:

14 (A) New budget authority,

15 $43,800,000,000.

16 (B) Outlays, $34,200,000,000.

17 (C) New direct loan obligations,

18 $200,000,000.

19 (D) New primary loan guarantee commit20 ments, $0.

21 (E) New secondary loan guarantee com22 mitments, $0.

23 Fiscal year 2002:

24 (A) New budget authority,

25 $43,300,000,000.
29

•HCON 67 RH

1 (B) Outlays, $33,700,000,000.

2 (C) New direct loan obligations,

3 $200,000,000.

4 (D) New primary loan guarantee commit5 ments, $0.

6 (E) New secondary loan guarantee com7 mitments, $0.

8 (9) Community and Regional Development (450):

9 Fiscal year 1996:

10 (A) New budget authority,

11 $6,700,000,000.

12 (B) Outlays, $9,900,000,000.

13 (C) New direct loan obligations,

14 $2,700,000,000.

15 (D) New primary loan guarantee commit16 ments, $1,200,000,000.

17 (E) New secondary loan guarantee com18 mitments, $0.

19 Fiscal year 1997:

20 (A) New budget authority,

21 $6,700,000,000.

22 (B) Outlays, $7,800,000,000.

23 (C) New direct loan obligations,

24 $2,700,000,000.
30

•HCON 67 RH

1 (D) New primary loan guarantee commit2 ments, $1,200,000,000.

3 (E) New secondary loan guarantee com4 mitments, $0.

5 Fiscal year 1998:

6 (A) New budget authority,

7 $6,700,000,000.

8 (B) Outlays, $6,700,000,000.

9 (C) New direct loan obligations,

10 $2,700,000,000.

11 (D) New primary loan guarantee commit12 ments, $1,200,000,000.

13 (E) New secondary loan guarantee com14 mitments, $0.

15 Fiscal year 1999:

16 (A) New budget authority,

17 $6,700,000,000.

18 (B) Outlays, $6,500,000,000.

19 (C) New direct loan obligations,

20 $2,700,000,000.

21 (D) New primary loan guarantee commit22 ments, $1,200,000,000.

23 (E) New secondary loan guarantee com24 mitments, $0.

25 Fiscal year 2000:
31

•HCON 67 RH

1 (A) New budget authority,

2 $6,700,000,000.

3 (B) Outlays, $6,600,000,000.

4 (C) New direct loan obligations,

5 $2,700,000,000.

6 (D) New primary loan guarantee commit7 ments, $1,200,000,000.

8 (E) New secondary loan guarantee com9 mitments, $0.

10 Fiscal year 2001:

11 (A) New budget authority,

12 $6,200,000,000.

13 (B) Outlays, $6,400,000,000.

14 (C) New direct loan obligations,

15 $2,700,000,000.

16 (D) New primary loan guarantee commit17 ments, $1,200,000,000.

18 (E) New secondary loan guarantee com19 mitments, $0.

20 Fiscal year 2002:

21 (A) New budget authority,

22 $6,100,000,000.

23 (B) Outlays, $6,400,000,000.

24 (C) New direct loan obligations,

25 $2,700,000,000.
32

•HCON 67 RH

1 (D) New primary loan guarantee commit2 ments, $1,200,000,000.

3 (E) New secondary loan guarantee com4 mitments, $0.

5 (10) Education, Training, Employment, and Social

6 Services (500):

7 Fiscal year 1996:

8 (A) New budget authority,

9 $45,700,000,000.

10 (B) Outlays, $52,300,000,000.

11 (C) New direct loan obligations,

12 $13,600,000,000.

13 (D) New primary loan guarantee commit14 ments, $16,300,000,000.

15 (E) New secondary loan guarantee com16 mitments, $0.

17 Fiscal year 1997:

18 (A) New budget authority,

19 $45,000,000,000.

20 (B) Outlays, $46,400,000,000.

21 (C) New direct loan obligations,

22 $16,300,000,000.

23 (D) New primary loan guarantee commit24 ments, $15,900,000,000.
33

•HCON 67 RH

1 (E) New secondary loan guarantee com2 mitments, $0.

3 Fiscal year 1998:

4 (A) New budget authority,

5 $44,900,000,000.

6 (B) Outlays, $44,600,000,000.

7 (C) New direct loan obligations,

8 $19,100,000,000.

9 (D) New primary loan guarantee commit10 ments, $15,200,000,000.

11 (E) New secondary loan guarantee com12 mitments, $0.

13 Fiscal year 1999:

14 (A) New budget authority,

15 $45,400,000,000.

16 (B) Outlays, $44,700,000,000.

17 (C) New direct loan obligations,

18 $21,800,000,000.

19 (D) New primary loan guarantee commit20 ments, $14,300,000,000.

21 (E) New secondary loan guarantee com22 mitments, $0.

23 Fiscal year 2000:

24 (A) New budget authority,

25 $45,900,000,000.
34

•HCON 67 RH

1 (B) Outlays, $45,200,000,000.

2 (C) New direct loan obligations,

3 $21,900,000,000.

4 (D) New primary loan guarantee commit5 ments, $15,000,000,000.

6 (E) New secondary loan guarantee com7 mitments, $0.

8 Fiscal year 2001:

9 (A) New budget authority,

10 $45,000,000,000.

11 (B) Outlays, $44,200,000,000.

12 (C) New direct loan obligations,

13 $22,000,000,000.

14 (D) New primary loan guarantee commit15 ments, $15,800,000,000.

16 (E) New secondary loan guarantee com17 mitments, $0.

18 Fiscal year 2002:

19 (A) New budget authority,

20 $44,600,000,000.

21 (B) Outlays, $43,700,000,000.

22 (C) New direct loan obligations,

23 $22,200,000,000.

24 (D) New primary loan guarantee commit25 ments, $16,600,000,000.
35

•HCON 67 RH

1 (E) New secondary loan guarantee com2 mitments, $0.

3 (11) Health (550):

4 Fiscal year 1996:

5 (A) New budget authority,

6 $121,900,000,000.

7 (B) Outlays, $122,300,000,000.

8 (C) New direct loan obligations, $0.

9 (D) New primary loan guarantee commit10 ments, $300,000,000.

11 (E) New secondary loan guarantee com12 mitments, $0.

13 Fiscal year 1997:

14 (A) New budget authority,

15 $127,700,000,000.

16 (B) Outlays, $127,800,000,000.

17 (C) New direct loan obligations, $0.

18 (D) New primary loan guarantee commit19 ments, $300,000,000.

20 (E) New secondary loan guarantee com21 mitments, $0.

22 Fiscal year 1998:

23 (A) New budget authority,

24 $132,100,000,000.

25 (B) Outlays, $132,200,000,000.
36

•HCON 67 RH

1 (C) New direct loan obligations, $0.

2 (D) New primary loan guarantee commit3 ments, $300,000,000.

4 (E) New secondary loan guarantee com5 mitments, $0.

6 Fiscal year 1999:

7 (A) New budget authority,

8 $136,700,000,000.

9 (B) Outlays, $136,700,000,000.

10 (C) New direct loan obligations, $0.

11 (D) New primary loan guarantee commit12 ments, $300,000,000.

13 (E) New secondary loan guarantee com14 mitments, $0.

15 Fiscal year 2000:

16 (A) New budget authority,

17 $141,500,000,000.

18 (B) Outlays, $141,400,000,000.

19 (C) New direct loan obligations, $0.

20 (D) New primary loan guarantee commit21 ments, $300,000,000.

22 (E) New secondary loan guarantee com23 mitments, $0.

24 Fiscal year 2001:
37

•HCON 67 RH

1 (A) New budget authority,

2 $146,300,000,000.

3 (B) Outlays, $146,200,000,000.

4 (C) New direct loan obligations, $0.

5 (D) New primary loan guarantee commit6 ments, $300,000,000.

7 (E) New secondary loan guarantee com8 mitments, $0.

9 Fiscal year 2002:

10 (A) New budget authority,

11 $149,100,000,000.

12 (B) Outlays, $148,900,000,000.

13 (C) New direct loan obligations, $0.

14 (D) New primary loan guarantee commit15 ments, $300,000,000.

16 (E) New secondary loan guarantee com17 mitments, $0.

18 (12) Medicare (570):

19 Fiscal year 1996:

20 (A) New budget authority,

21 $177,600,000,000.

22 (B) Outlays, $175,200,000,000.

23 (C) New direct loan obligations, $0.

24 (D) New primary loan guarantee commit25 ments, $0.
38

•HCON 67 RH

1 (E) New secondary loan guarantee com2 mitments, $0.

3 Fiscal year 1997:

4 (A) New budget authority,

5 $186,600,000,000.

6 (B) Outlays, $185,000,000,000.

7 (C) New direct loan obligations, $0.

8 (D) New primary loan guarantee commit9 ments, $0.

10 (E) New secondary loan guarantee com11 mitments, $0.

12 Fiscal year 1998:

13 (A) New budget authority,

14 $195,900,000,000.

15 (B) Outlays, $194,200,000,000.

16 (C) New direct loan obligations, $0.

17 (D) New primary loan guarantee commit18 ments, $0.

19 (E) New secondary loan guarantee com20 mitments, $0.

21 Fiscal year 1999:

22 (A) New budget authority,

23 $206,300,000,000.

24 (B) Outlays, $203,700,000,000.

25 (C) New direct loan obligations, $0.
39

•HCON 67 RH

1 (D) New primary loan guarantee commit2 ments, $0.

3 (E) New secondary loan guarantee com4 mitments, $0.

5 Fiscal year 2000:

6 (A) New budget authority,

7 $214,800,000,000.

8 (B) Outlays, $212,900,000,000.

9 (C) New direct loan obligations, $0.

10 (D) New primary loan guarantee commit11 ments, $0.

12 (E) New secondary loan guarantee com13 mitments, $0.

14 Fiscal year 2001:

15 (A) New budget authority,

16 $224,400,000,000.

17 (B) Outlays, $222,400,000,000.

18 (C) New direct loan obligations, $0.

19 (D) New primary loan guarantee commit20 ments, $0.

21 (E) New secondary loan guarantee com22 mitments, $0.

23 Fiscal year 2002:

24 (A) New budget authority,

25 $234,600,000,000.
40

•HCON 67 RH

1 (B) Outlays, $232,400,000,000.

2 (C) New direct loan obligations, $0.

3 (D) New primary loan guarantee commit4 ments, $0.

5 (E) New secondary loan guarantee com6 mitments, $0.

7 (13) Income Security (600):

8 Fiscal year 1996:

9 (A) New budget authority,

10 $222,700,000,000.

11 (B) Outlays, $225,000,000,000.

12 (C) New direct loan obligations, $0.

13 (D) New primary loan guarantee commit14 ments, $100,000,000.

15 (E) New secondary loan guarantee com16 mitments, $0.

17 Fiscal year 1997:

18 (A) New budget authority,

19 $231,800,000,000.

20 (B) Outlays, $235,300,000,000.

21 (C) New direct loan obligations, $0.

22 (D) New primary loan guarantee commit23 ments, $100,000,000.

24 (E) New secondary loan guarantee com25 mitments, $0.
41

•HCON 67 RH

1 Fiscal year 1998:

2 (A) New budget authority,

3 $248,400,000,000.

4 (B) Outlays, $243,900,000,000.

5 (C) New direct loan obligations, $0.

6 (D) New primary loan guarantee commit7 ments, $100,000,000.

8 (E) New secondary loan guarantee com9 mitments, $0.

10 Fiscal year 1999:

11 (A) New budget authority,

12 $255,400,000,000.

13 (B) Outlays, $254,300,000,000.

14 (C) New direct loan obligations, $0.

15 (D) New primary loan guarantee commit16 ments, $100,000,000.

17 (E) New secondary loan guarantee com18 mitments, $0.

19 Fiscal year 2000:

20 (A) New budget authority,

21 $265,900,000,000.

22 (B) Outlays, $267,600,000,000.

23 (C) New direct loan obligations, $0.

24 (D) New primary loan guarantee commit25 ments, $100,000,000.
42

•HCON 67 RH

1 (E) New secondary loan guarantee com2 mitments, $0.

3 Fiscal year 2001:

4 (A) New budget authority,

5 $267,600,000,000.

6 (B) Outlays, $269,000,000,000.

7 (C) New direct loan obligations, $0.

8 (D) New primary loan guarantee commit9 ments, $100,000,000.

10 (E) New secondary loan guarantee com11 mitments, $0.

12 Fiscal year 2002:

13 (A) New budget authority,

14 $277,600,000,000.

15 (B) Outlays, $279,100,000,000.

16 (C) New direct loan obligations, $0.

17 (D) New primary loan guarantee commit18 ments, $100,000,000.

19 (E) New secondary loan guarantee com20 mitments, $0.

21 (14) Social Security (650):

22 Fiscal year 1996:

23 (A) New budget authority,

24 $5,900,000,000.

25 (B) Outlays, $8,500,000,000.
43

•HCON 67 RH

1 (C) New direct loan obligations, $0.

2 (D) New primary loan guarantee commit3 ments, $0.

4 (E) New secondary loan guarantee com5 mitments, $0.

6 Fiscal year 1997:

7 (A) New budget authority,

8 $8,100,000,000.

9 (B) Outlays, $10,500,000,000.

10 (C) New direct loan obligations, $0.

11 (D) New primary loan guarantee commit12 ments, $0.

13 (E) New secondary loan guarantee com14 mitments, $0.

15 Fiscal year 1998:

16 (A) New budget authority,

17 $8,800,000,000.

18 (B) Outlays, $11,300,000,000.

19 (C) New direct loan obligations, $0.

20 (D) New primary loan guarantee commit21 ments, $0.

22 (E) New secondary loan guarantee com23 mitments, $0.

24 Fiscal year 1999:
44

•HCON 67 RH

1 (A) New budget authority,

2 $9,600,000,000.

3 (B) Outlays, $12,100,000,000.

4 (C) New direct loan obligations, $0.

5 (D) New primary loan guarantee commit6 ments, $0.

7 (E) New secondary loan guarantee com8 mitments, $0.

9 Fiscal year 2000:

10 (A) New budget authority,

11 $10,500,000,000.

12 (B) Outlays, $12,900,000,000.

13 (C) New direct loan obligations, $0.

14 (D) New primary loan guarantee commit15 ments, $0.

16 (E) New secondary loan guarantee com17 mitments, $0.

18 Fiscal year 2001:

19 (A) New budget authority,

20 $11,100,000,000.

21 (B) Outlays, $13,500,000,000.

22 (C) New direct loan obligations, $0.

23 (D) New primary loan guarantee commit24 ments, $0.
45

•HCON 67 RH

1 (E) New secondary loan guarantee com2 mitments, $0.

3 Fiscal year 2002:

4 (A) New budget authority,

5 $11,700,000,000.

6 (B) Outlays, $14,100,000,000.

7 (C) New direct loan obligations, $0.

8 (D) New primary loan guarantee commit9 ments, $0.

10 (E) New secondary loan guarantee com11 mitments, $0.

12 (15) Veterans Benefits and Services (700):

13 Fiscal year 1996:

14 (A) New budget authority,

15 $37,600,000,000.

16 (B) Outlays, $36,900,000,000.

17 (C) New direct loan obligations,

18 $1,200,000,000.

19 (D) New primary loan guarantee commit20 ments, $26,700,000,000.

21 (E) New secondary loan guarantee com22 mitments, $0.

23 Fiscal year 1997:

24 (A) New budget authority,

25 $38,100,000,000.
46

•HCON 67 RH

1 (B) Outlays, $38,100,000,000.

2 (C) New direct loan obligations,

3 $1,100,000,000.

4 (D) New primary loan guarantee commit5 ments, $21,600,000,000.

6 (E) New secondary loan guarantee com7 mitments, $0.

8 Fiscal year 1998:

9 (A) New budget authority,

10 $38,500,000,000.

11 (B) Outlays, $38,500,000,000.

12 (C) New direct loan obligations,

13 $1,000,000,000.

14 (D) New primary loan guarantee commit15 ments, $19,700,000,000.

16 (E) New secondary loan guarantee com17 mitments, $0.

18 Fiscal year 1999:

19 (A) New budget authority,

20 $39,100,000,000.

21 (B) Outlays, $39,000,000,000.

22 (C) New direct loan obligations,

23 $1,000,000,000.

24 (D) New primary loan guarantee commit25 ments, $18,600,000,000.
47

•HCON 67 RH

1 (E) New secondary loan guarantee com2 mitments, $0.

3 Fiscal year 2000:

4 (A) New budget authority,

5 $39,200,000,000.

6 (B) Outlays, $40,600,000,000.

7 (C) New direct loan obligations,

8 $1,200,000,000.

9 (D) New primary loan guarantee commit10 ments, $19,300,000,000.

11 (E) New secondary loan guarantee com12 mitments, $0.

13 Fiscal year 2001:

14 (A) New budget authority,

15 $39,700,000,000.

16 (B) Outlays, $41,200,000,000.

17 (C) New direct loan obligations,

18 $1,400,000,000.

19 (D) New primary loan guarantee commit20 ments, $19,900,000,000.

21 (E) New secondary loan guarantee com22 mitments, $0.

23 Fiscal year 2002:

24 (A) New budget authority,

25 $40,100,000,000.
48

•HCON 67 RH

1 (B) Outlays, $41,600,000,000.

2 (C) New direct loan obligations,

3 $1,700,000,000.

4 (D) New primary loan guarantee commit5 ments, $20,600,000,000.

6 (E) New secondary loan guarantee com7 mitments, $0.

8 (16) Administration of Justice (750):

9 Fiscal year 1996:

10 (A) New budget authority,

11 $17,800,000,000.

12 (B) Outlays, $17,800,000,000.

13 (C) New direct loan obligations, $0.

14 (D) New primary loan guarantee commit15 ments, $0.

16 (E) New secondary loan guarantee com17 mitments, $0.

18 Fiscal year 1997:

19 (A) New budget authority,

20 $16,900,000,000.

21 (B) Outlays, $17,100,000,000.

22 (C) New direct loan obligations, $0.

23 (D) New primary loan guarantee commit24 ments, $0.
49

•HCON 67 RH

1 (E) New secondary loan guarantee com2 mitments, $0.

3 Fiscal year 1998:

4 (A) New budget authority,

5 $16,600,000,000.

6 (B) Outlays, $16,900,000,000.

7 (C) New direct loan obligations, $0.

8 (D) New primary loan guarantee commit9 ments, $0.

10 (E) New secondary loan guarantee com11 mitments, $0.

12 Fiscal year 1999:

13 (A) New budget authority,

14 $16,400,000,000.

15 (B) Outlays, $16,700,000,000.

16 (C) New direct loan obligations, $0.

17 (D) New primary loan guarantee commit18 ments, $0.

19 (E) New secondary loan guarantee com20 mitments, $0.

21 Fiscal year 2000:

22 (A) New budget authority,

23 $16,400,000,000.

24 (B) Outlays, $16,600,000,000.

25 (C) New direct loan obligations, $0.
50

•HCON 67 RH

1 (D) New primary loan guarantee commit2 ments, $0.

3 (E) New secondary loan guarantee com4 mitments, $0.

5 Fiscal year 2001:

6 (A) New budget authority,

7 $16,000,000,000.

8 (B) Outlays, $16,200,000,000.

9 (C) New direct loan obligations, $0.

10 (D) New primary loan guarantee commit11 ments, $0.

12 (E) New secondary loan guarantee com13 mitments, $0.

14 Fiscal year 2002:

15 (A) New budget authority,

16 $15,900,000,000.

17 (B) Outlays, $16,100,000,000.

18 (C) New direct loan obligations, $0.

19 (D) New primary loan guarantee commit20 ments, $0.

21 (E) New secondary loan guarantee com22 mitments, $0.

23 (17) General Government (800):

24 Fiscal year 1996:
51

•HCON 67 RH

1 (A) New budget authority,

2 $11,600,000,000.

3 (B) Outlays, $12,400,000,000.

4 (C) New direct loan obligations, $0.

5 (D) New primary loan guarantee commit6 ments, $0.

7 (E) New secondary loan guarantee com8 mitments, $0.

9 Fiscal year 1997:

10 (A) New budget authority,

11 $11,600,000,000.

12 (B) Outlays, $11,800,000,000.

13 (C) New direct loan obligations, $0.

14 (D) New primary loan guarantee commit15 ments, $0.

16 (E) New secondary loan guarantee com17 mitments, $0.

18 Fiscal year 1998:

19 (A) New budget authority,

20 $12,500,000,000.

21 (B) Outlays, $12,600,000,000.

22 (C) New direct loan obligations, $0.

23 (D) New primary loan guarantee commit24 ments, $0.
52

•HCON 67 RH

1 (E) New secondary loan guarantee com2 mitments, $0.

3 Fiscal year 1999:

4 (A) New budget authority,

5 $11,700,000,000.

6 (B) Outlays, $11,500,000,000.

7 (C) New direct loan obligations, $0.

8 (D) New primary loan guarantee commit9 ments, $0.

10 (E) New secondary loan guarantee com11 mitments, $0.

12 Fiscal year 2000:

13 (A) New budget authority,

14 $12,100,000,000.

15 (B) Outlays, $12,000,000,000.

16 (C) New direct loan obligations, $0.

17 (D) New primary loan guarantee commit18 ments, $0.

19 (E) New secondary loan guarantee com20 mitments, $0.

21 Fiscal year 2001:

22 (A) New budget authority,

23 $11,300,000,000.

24 (B) Outlays, $11,100,000,000.

25 (C) New direct loan obligations, $0.
53

•HCON 67 RH

1 (D) New primary loan guarantee commit2 ments, $0.

3 (E) New secondary loan guarantee com4 mitments, $0.

5 Fiscal year 2002:

6 (A) New budget authority,

7 $11,300,000,000.

8 (B) Outlays, $11,000,000,000.

9 (C) New direct loan obligations, $0.

10 (D) New primary loan guarantee commit11 ments, $0.

12 (E) New secondary loan guarantee com13 mitments, $0.

14 (18) Net Interest (900):

15 Fiscal year 1996:

16 (A) New budget authority,

17 $295,800,000,000.

18 (B) Outlays, $295,800,000,000.

19 (C) New direct loan obligations, $0.

20 (D) New primary loan guarantee commit21 ments, $0.

22 (E) New secondary loan guarantee com23 mitments, $0.

24 Fiscal year 1997:
54

•HCON 67 RH

1 (A) New budget authority,

2 $304,100,000,000.

3 (B) Outlays, $304,100,000,000.

4 (C) New direct loan obligations, $0.

5 (D) New primary loan guarantee commit6 ments, $0.

7 (E) New secondary loan guarantee com8 mitments, $0.

9 Fiscal year 1998:

10 (A) New budget authority,

11 $308,400,000,000.

12 (B) Outlays, $308,400,000,000.

13 (C) New direct loan obligations, $0.

14 (D) New primary loan guarantee commit15 ments, $0.

16 (E) New secondary loan guarantee com17 mitments, $0.

18 Fiscal year 1999:

19 (A) New budget authority,

20 $314,300,000,000.

21 (B) Outlays, $314,300,000,000.

22 (C) New direct loan obligations, $0.

23 (D) New primary loan guarantee commit24 ments, $0.
55

•HCON 67 RH

1 (E) New secondary loan guarantee com2 mitments, $0.

3 Fiscal year 2000:

4 (A) New budget authority,

5 $319,400,000,000.

6 (B) Outlays, $319,400,000,000.

7 (C) New direct loan obligations, $0.

8 (D) New primary loan guarantee commit9 ments, $0.

10 (E) New secondary loan guarantee com11 mitments, $0.

12 Fiscal year 2001:

13 (A) New budget authority, $320,000,000.

14 (B) Outlays, $320,000,000.

15 (C) New direct loan obligations, $0.

16 (D) New primary loan guarantee commit17 ments, $0.

18 (E) New secondary loan guarantee com19 mitments, $0.

20 Fiscal year 2002:

21 (A) New budget authority,

22 $322,600,000,000.

23 (B) Outlays, $322,600,000,000.

24 (C) New direct loan obligations, $0.
56

•HCON 67 RH

1 (D) New primary loan guarantee commit2 ments, $0.

3 (E) New secondary loan guarantee com4 mitments, $0.

5 (19) Allowances (920):

6 Fiscal year 1996:

7 (A) New budget authority,

8 ¥$2,300,000,000.

9 (B) Outlays, ¥$1,900,000,000.

10 (C) New direct loan obligations, $0.

11 (D) New primary loan guarantee commit12 ments, $0.

13 (E) New secondary loan guarantee com14 mitments, $0.

15 Fiscal year 1997:

16 (A) New budget authority,

17 ¥$2,400,000,000.

18 (B) Outlays, ¥$2,300,000,000.

19 (C) New direct loan obligations, $0.

20 (D) New primary loan guarantee commit21 ments, $0.

22 (E) New secondary loan guarantee com23 mitments, $0.

24 Fiscal year 1998:
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1 (A) New budget authority,

2 ¥$2,400,000,000.

3 (B) Outlays, ¥$2,500,000,000.

4 (C) New direct loan obligations, $0.

5 (D) New primary loan guarantee commit6 ments, $0.

7 (E) New secondary loan guarantee com8 mitments, $0.

9 Fiscal year 1999:

10 (A) New budget authority,

11 ¥$2,500,000,000.

12 (B) Outlays, ¥$2,700,000,000.

13 (C) New direct loan obligations, $0.

14 (D) New primary loan guarantee commit15 ments, $0.

16 (E) New secondary loan guarantee com17 mitments, $0.

18 Fiscal year 2000:

19 (A) New budget authority,

20 ¥$2,600,000,000.

21 (B) Outlays, ¥$2,800,000,000.

22 (C) New direct loan obligations, $0.

23 (D) New primary loan guarantee commit24 ments, $0.
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1 (E) New secondary loan guarantee com2 mitments, $0.

3 Fiscal year 2001:

4 (A) New budget authority,

5 ¥$2,600,000,000.

6 (B) Outlays, ¥$2,900,000,000.

7 (C) New direct loan obligations, $0.

8 (D) New primary loan guarantee commit9 ments, $0.

10 (E) New secondary loan guarantee com11 mitments, $0.

12 Fiscal year 2002:

13 (A) New budget authority,

14 ¥$2,600,000,000.

15 (B) Outlays, ¥$2,900,000,000.

16 (C) New direct loan obligations, $0.

17 (D) New primary loan guarantee commit18 ments, $0.

19 (E) New secondary loan guarantee com20 mitments, $0.

21 (20) Undistributed Offsetting Receipts (950):

22 Fiscal year 1996:

23 (A) New budget authority,

24 ¥$34,400,000,000.

25 (B) Outlays, ¥$34,400,000,000.
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1 (C) New direct loan obligations, $0.

2 (D) New primary loan guarantee commit3 ments, $0.

4 (E) New secondary loan guarantee com5 mitments, $0.

6 Fiscal year 1997:

7 (A) New budget authority,

8 ¥$34,200,000,000.

9 (B) Outlays, ¥$34,200,000,000.

10 (C) New direct loan obligations, $0.

11 (D) New primary loan guarantee commit12 ments, $0.

13 (E) New secondary loan guarantee com14 mitments, $0.

15 Fiscal year 1998:

16 (A) New budget authority,

17 ¥$37,600,000,000.

18 (B) Outlays, ¥$37,600,000,000.

19 (C) New direct loan obligations, $0.

20 (D) New primary loan guarantee commit21 ments, $0.

22 (E) New secondary loan guarantee com23 mitments, $0.

24 Fiscal year 1999:
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1 (A) New budget authority,

2 $36,400,000,000.

3 (B) Outlays, $36,400,000,000.

4 (C) New direct loan obligations, $0.

5 (D) New primary loan guarantee commit6 ments, $0.

7 (E) New secondary loan guarantee com8 mitments, $0.

9 Fiscal year 2000:

10 (A) New budget authority,

11 ¥$38,100,000,000.

12 (B) Outlays, ¥$38,100,000,000.

13 (C) New direct loan obligations, $0.

14 (D) New primary loan guarantee commit15 ments, $0.

16 (E) New secondary loan guarantee com17 mitments, $0.

18 Fiscal year 2001:

19 (A) New budget authority,

20 ¥$37,900,000,000.

21 (B) Outlays, ¥$37,900,000,000.

22 (C) New direct loan obligations, $0.

23 (D) New primary loan guarantee commit24 ments, $0.
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1 (E) New secondary loan guarantee com2 mitments, $0.

3 Fiscal year 2002:

4 (A) New budget authority,

5 ¥$39,000,000,000.

6 (B) Outlays, ¥$39,000,000,000.

7 (C) New direct loan obligations, $0.

8 (D) New primary loan guarantee commit9 ments, $0.

10 (E) New secondary loan guarantee com11 mitments, $0.

12 SEC. 4. RECONCILIATION.

13 (a)(1) Not later than July 14, 1995, the House com14 mittees named in paragraphs (1) through (12) of sub15 section (b) of this section shall submit their recommenda16 tions to the House Committee on the Budget. After receiv17 ing those recommendations, the House Committee on the

18 Budget shall report to the House a reconciliation bill car19 rying out all such recommendations without any sub20 stantive revision.

21 (2) Each committee named in paragraphs (1)

22 through (11) of subsection (b) shall report changes in laws

23 within its jurisdiction that provide direct spending such

24 that the total level of direct spending for that committee

25 for—
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1 (A) fiscal year 1996,

2 (B) the 5-year period beginning with fiscal year

3 1996 and ending with fiscal year 2000, and

4 (C) the 7-year period beginning with fiscal year

5 1996 and ending with fiscal year 2002,

6 does not exceed the total level of direct spending in that

7 period in the paragraph applicable to that committee.

8 (3) Each committee named in paragraphs (2)(B),

9 (4)(B), (5)(B), and (6)(B) of subsection (b) shall report

10 changes in laws within its jurisdiction as set forth in the

11 paragraph applicable to that committee.

12 (4) The Committee on Ways and Means shall carry

13 out subsection (b)(12).

14 (b)(1) The House Committee on Agriculture:

15 $35,824,000,000 in outlays in fiscal year 1996,

16 $171,886,000,000 in outlays in fiscal years 1996 through

17 2000, and $263,102,000,000 in outlays in fiscal years

18 1996 through 2002.

19 (2)(A) The House Committee on Banking and Finan20 cial Services: ¥$12,897,000,000 in outlays in fiscal year

21 1996, ¥$43,065,000,000 in outlays in fiscal years 1996

22 through 2000, and ¥$57,184,000,000 in outlays in fiscal

23 years 1996 through 2002.

24 (B) The House Committee on Banking and Financial

25 Services shall report changes in laws within its jurisdiction
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1 that would reduce the deficit by: $0 in fiscal year 1996,

2 ¥$100,000,000 in fiscal years 1996 through 2000, and

3 ¥$260,000,000 in fiscal years 1996 through 2002.

4 (3) The House Committee on Commerce:

5 $293,665,000,000 in outlays in fiscal year 1996,

6 $1,726,600,000,000 in outlays in fiscal years 1996

7 through 2000, and $2,625,094,000,000 in outlays in fiscal

8 years 1996 through 2002.

9 (4)(A) The House Committee on Economic and Edu10 cational Opportunities: $13,727,000,000 in outlays in fis11 cal year 1996, $61,570,000,000 in outlays in fiscal years

12 1996 through 2000, and $95,520,000,000 in outlays in

13 fiscal years 1996 through 2002.

14 (B) In addition to changes in law reported pursuant

15 to subparagraph (A), the House Committee on Economic

16 and Educational Opportunities shall report program

17 changes in laws within its jurisdiction that would result

18 in a reduction in outlays as follows: ¥$720,000,000 in

19 fiscal year 1996, ¥$5,908,000,000 in fiscal years 1996

20 through 2000, and ¥$9,018,000,000 in fiscal years 1996

21 through 2002.

22 (5)(A) The House Committee on Government Reform

23 and Oversight: $57,725,000,000 in outlays in fiscal year

24 1996, $313,647,000,000 in outlays in fiscal years 1996
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1 through 2000, and $455,328,000,000 in outlays in fiscal

2 years 1996 through 2002.

3 (B) In addition to changes in law reported pursuant

4 to subparagraph (A), the House Committee on Govern5 ment Reform and Oversight shall report changes in laws

6 within its jurisdiction that would reduce the deficit by:

7 ¥$988,000,000 in fiscal year 1996, ¥$9,618,000,000 in

8 fiscal years 1996 through 2000, and ¥$14,740,000,000

9 in fiscal years 1996 through 2002.

10 (6)(A) The House Committee on International Rela11 tions: $14,246,000,000 in outlays in fiscal year 1996,

12 $62,076,000,000 in outlays in fiscal years 1996 through

13 2000, and $83,206,000,000 in outlays in fiscal years 1996

14 through 2002.

15 (B) In addition to changes in law reported pursuant

16 to subparagraph (A), the House Committee on Inter17 national Relations shall shall report changes in laws within

18 its jurisdiction that would reduce the deficit by:

19 ¥$19,000,000,000 in fiscal year 1996,

20 ¥$95,000,000,000 in fiscal years 1996 through 2000,

21 and ¥$123,000,000 in fiscal years 1996 through 2002.

22 (7) The House Committee on the Judiciary:

23 $2,580,000,000 in outlays in fiscal year 1996,

24 $14,043,000,000 in outlays in fiscal years 1996 through
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1 2000, and $20,029,000,000 in outlays in fiscal years 1996

2 through 2002.

3 (8) The House Committee on National Security:

4 $38,769,000,000 in outlays in fiscal year 1996,

5 $224,682,000,000 in outlays in fiscal years 1996 through

6 2000, and $328,334,000,000 in outlays in fiscal years

7 1996 through 2002.

8 (9) The House Committee on Resources:

9 $1,558,000,000 in outlays in fiscal year 1996,

10 $6,532,000,000 in outlays in fiscal years 1996 through

11 2000, and $12,512,000,000 in outlays in fiscal years 1996

12 through 2002.

13 (10) The House Committee on Transportation and

14 Infrastructure: $16,636,000,000 in outlays in fiscal year

15 1996, $83,227,000,000 in outlays in fiscal years 1996

16 through 2000, and $117,079,000,000 in outlays in fiscal

17 years 1996 through 2002.

18 (11) The House Committee on Veterans’ Affairs:

19 $19,041,000,000 in outlays in fiscal year 1996,

20 $105,965,000,000 in outlays in fiscal years 1996 through

21 2000, and $154,054,000,000 in outlays in fiscal years

22 1996 through 2002.

23 (12)(A) The House Committee on Ways and Means

24 shall report changes in laws within its jurisdiction that
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1 provide direct spending such that the total level of direct

2 spending for that committee for—

3 (i) fiscal year 1996,

4 (ii) the 5-year period beginning with fiscal year

5 1996 and ending with fiscal year 2000, and

6 (iii) the 7-year period beginning with fiscal year

7 1996 and ending with fiscal year 2002,

8 does not exceed the following level in that period:

9 $356,336,000,000 in outlays in fiscal year 1996,

10 $2,152,905,000,000 in outlays in fiscal years 1996

11 through 2000, and $3,297,787,000,000 in outlays in fiscal

12 years 1996 through 2002.

13 (B) In addition to changes in law reported pursuant

14 to subparagraph (A), the House Committee on Ways and

15 Means shall report changes in laws within its jurisdiction

16 such that the total level of revenues for that committee

17 for—

18 (i) fiscal year 1996,

19 (ii) the 5-year period beginning with fiscal year

20 1996 and ending with fiscal year 2000, and

21 (iii) the 7-year period beginning with fiscal year

22 1996 and ending with fiscal year 2002,

23 is not less than the following amount in that period:

24 $1,027,612,000,000 in fiscal year 1996,

25 $5,371,087,000,000 in fiscal years 1996 through 2000,
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1 and $7,836,405,000,000 in fiscal years 1996 through

2 2002.

3 (c)(1) Not later than September 14, 1995, the House

4 committees named in paragraphs (2) and (3) shall submit

5 their recommendations to the House Committee on the

6 Budget. After receiving those recommendations, the

7 House Budget Committee shall report to the House a rec8 onciliation bill carrying out all such recommendations

9 without any substantive revisions.

10 (2) In addition to changes in laws reported pursuant

11 to subsection (b)(3), the House Committee on Commerce

12 shall report changes in laws within its jurisdiction that

13 provide direct spending such that the total level of direct

14 spending for that committee for—

15 (A) fiscal year 1996,

16 (B) the 5-year period beginning with fiscal year

17 1996 and ending with fiscal year 2000, and

18 (C) the 7-year period beginning with fiscal year

19 1996 and ending with fiscal year 2002,

20 does not exceed the following level in that period:

21 $287,165,000,000 in outlays in fiscal year 1996,

22 $1,592,200,000,000 in outlays in fiscal years 1996

23 through 2000, and $2,338,694,000,000 in outlays in fiscal

24 years 1996 through 2002.
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1 (3) In addition to changes in laws reported pursuant

2 to subsection (b)(12), the House Committee on Ways and

3 Means shall report changes in laws within its jurisdiction

4 that provide direct spending such that the total level of

5 direct spending for that committee for—

6 (A) fiscal year 1996,

7 (B) the 5-year period beginning with fiscal year

8 1996 and ending with fiscal year 2000, and

9 (C) the 7-year period beginning with fiscal year

10 1996 and ending with fiscal year 2002,

11 does not exceed the following level in that period:

12 $349,836,000,000 in outlays in fiscal year 1996,

13 $2,018,505,000,000 in outlays in fiscal years 1996

14 through 2000, and $3,009,387,000,000 in outlays in fiscal

15 years 1996 through 2002.

16 (d) For purposes of this section, the term ‘‘direct

17 spending’’ has the meaning given to such term in section

18 250(c)(8) of the Balanced Budget and Emergency Deficit

19 Control Act of 1985.

20 SEC. 5. SALE OF GOVERNMENT ASSETS.

21 (a) SENSE OF CONGRESS.—It is the sense of the Con22 gress that—

23 (1) the prohibition on scoring asset sales has

24 discouraged the sale of assets that can be better
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1 managed by the private sector and generate receipts

2 to reduce the Federal budget deficit;

3 (2) the President’s fiscal year 1996 budget in4 cluded $8,000,000,000 in receipts from asset sales

5 and proposed a change in the asset sale scoring rule

6 to allow the proceeds from these sales to be scored;

7 (3) assets should not be sold if such sale would

8 increase the budget deficit over the long run; and

9 (4) the asset sale scoring prohibition should be

10 repealed and consideration should be given to replac11 ing it with a methodology that takes into account

12 the long-term budgetary impact of asset sale.

13 (b) BUDGETARY TREATMENT.—For purposes of the

14 Congressional Budget Act of 1974, the amounts realized

15 from sales of assets shall be scored with respect to the

16 level of budget authority, outlays, or revenues.

17 (c) DEFINITION.—For purposes of this section, the

18 term ‘‘sale of an asset’’ shall have the same meaning as

19 under section 250(c)(21) of the Balanced Budget and

20 Emergency Deficit Control Act of 1985.

21 (d) TREATMENT OF LOAN ASSETS.—For purposes of

22 this section, the sale of loan assets or the prepayment of

23 a loan shall be governed by the terms of the Federal Credit

24 Reform Act of 1990.
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1 SEC. 6. INTERNAL REVENUE SERVICE COMPLIANCE INITIA2 TIVE.

3 (a) ADJUSTMENTS.—(1) For purposes of points of

4 order under the Congressional Budget Act of 1974 and

5 concurrent resolutions on the budget—

6 (A) the discretionary spending limits under sec7 tion 601(a)(2) of that Act (and those limits as cu8 mulatively adjusted) for the current fiscal year and

9 each outyear;

10 (B) the allocations to the Committee on Appro11 priations under sections 302(a) and 602(a) of that

12 Act; and

13 (C) the appropriate budgetary aggregates in the

14 most recently agreed to concurrent resolution on the

15 budget,

16 shall be adjusted to reflect the amounts of additional new

17 budget authority or additional outlays (as defined in para18 graph (2)) reported by the Committee on Appropriations

19 in appropriation Acts (or by the committee of conference

20 on such legislation) for the Internal Revenue Service com21 pliance initiative activities in any fiscal year, but not to

22 exceed in any fiscal year $405,000,000 in new budget au23 thority and $405,000,000 in outlays.

24 (2) As used in this section, the terms ‘‘additional new

25 budget authority’’ or ‘‘additional outlays’’ shall mean, for

26 any fiscal year, budget authority or outlays (as the case
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1 may be) in excess of the amounts requested for that fiscal

2 year for the Internal Revenue Service in the President’s

3 Budget for fiscal year 1996.

4 (b) REVISED LIMITS, ALLOCATIONS, AND AGGRE5 GATES.—Upon the reporting of legislation pursuant to

6 subsection (a), and again upon the submission of a con7 ference report on such legislation (if a conference report

8 is submitted), the chairman of the Committee on the

9 Budget of the Senate or the House of Representatives (as

10 the case may be) shall submit to that chairman’s respec11 tive House appropriately revised—

12 (1) discretionary spending limits under section

13 601(a)(2) of the Congressional Budget Act of 1974

14 (and those limits as cumulatively adjusted) for the

15 current fiscal year and each outyear;

16 (2) allocations to the Committee on Appropria17 tions under sections 302(a) and 602(a) of that Act;

18 and

19 (3) appropriate budgetary aggregates in the

20 most recently agreed to concurrent resolution on the

21 budget,

22 to carry out this subsection. These revised discretionary

23 spending limits, allocations, and aggregates shall be con24 sidered for purposes of congressional enforcement under
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1 that Act as the discretionary spending limits, allocations,

2 and aggregates.

3 (c) REPORTING REVISED SUBALLOCATIONS.—The

4 Committees on Appropriations of the Senate and the

5 House of Representatives may report appropriately revised

6 suballocations pursuant to sections 302(b)(1) and

7 602(b)(1) of the Congressional Budget Act of 1974 to

8 carry out this section.

9 (d) CONTINGENCIES.—

10 (1) The Internal Revenue Service and the De11 partment of the Treasury have certified that they

12 are firmly committed to the principles of privacy,

13 confidentiality, courtesy, and protection of taxpayer

14 rights. To this end, the Internal Revenue Service

15 and the Department of the Treasury have explicitly

16 committed to initiate and implement educational

17 programs for any new employees hired as a result of

18 the compliance initiative made possible by this sec19 tion.

20 (2) This section shall not apply to any addi21 tional new budget authority or additional outlays un22 less—

23 (A) the chairmen of the Budget Commit24 tees certify, based upon information from the

25 Congressional Budget Office, the General Ac-
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1 counting Office, and the Internal Revenue Serv2 ice (as well as from any other sources they

3 deem relevant), that such budget authority or

4 outlays will not increase the total of the Federal

5 budget deficits over the next five years; and

6 (B) any funds made available pursuant to

7 such budget authority or outlays are available

8 only for the purpose of carrying out Internal

9 Revenue Service compliance initiative activities.

10 SEC. 7. SENSE OF THE CONGRESS ON BASELINES.

11 (a) FINDINGS.—The Congress finds that:

12 (1) Baselines are projections of future spending

13 if existing policies remain unchanged.

14 (2) Under baseline assumptions, spending auto15 matically rises with inflation even if such increases

16 are not provided under current law.

17 (3) Baseline budgeting is inherently biased

18 against policies that would reduce the projected

19 growth in spending because such policies are scored

20 as a reduction from a rising baseline.

21 (4) The baseline concept has encouraged Con22 gress to abdicate its constitutional responsibility to

23 control the public purse for programs which are

24 automatically funded under existing law.
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1 (b) SENSE OF CONGRESS.—It is the sense of the

2 Congress that baseline budgeting should be replaced with

3 a form of budgeting that requires full justification and

4 analysis of budget proposals and maximizes congressional

5 accountability for public spending.

6 SEC. 8. SENSE OF CONGRESS ON EMERGENCIES.

7 (a) FINDINGS.—The Congress finds that:

8 (1) The Budget Enforcement Act of 1990 ex9 empted from the discretionary spending limits and

10 the Pay-As-You-Go requirements for entitlement and

11 tax legislation funding requirements that are des12 ignated by Congress and the President as an emer13 gency.

14 (2) Congress and the President have increas15 ingly misused the emergency designation by—

16 (A) designating funding as an emergency

17 that is neither unforeseen nor a genuine emer18 gency, and

19 (B) circumventing spending limits or pass20 ing controversial items that would not pass

21 scrutiny in a free-standing bill.

22 (b) SENSE OF CONGRESS.—It is the sense of Con23 gress that Congress should study alternative approaches

24 to budgeting for emergencies, including codifying the defi-
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1 nition of an emergency and establishing contingency funds

2 to pay for emergencies.

3 SEC. 9. SENSE OF CONGRESS REGARDING PRIVATIZATION

4 OF THE STUDENT LOAN MARKETING ASSO5 CIATION (SALLIE MAE).

6 (a) FINDINGS.—The Congress finds that:

7 (1) The Student Loan Marketing Association

8 was established in 1972 as a government-sponsored

9 corporation dedicated to ensuring adequate private

10 sector funding for federally guaranteed education

11 loans.

12 (2) Since 1972, student loan volume has grown

13 from $1,000,000,000 a year to $25,000,000,000 a

14 year. The Student Loan Marketing Association was

15 instrumental in fostering this expansion of the stu16 dent loan program.

17 (3) With securitization and 42 secondary mar18 kets, there currently exist numerous alternatives for

19 lenders wishing to sell or liquidate their portfolios of

20 student loans.

21 (4) Maintaining Student Loan Marketing Asso22 ciation as a Government-sponsored enterprise ex23 poses taxpayers to an unnecessary liability.
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1 (b) SENSE OF CONGRESS.—It is the sense Congress

2 that the Student Loan Marketing Association should be

3 restructured as a private corporation.

4 SEC. 10. SENSE OF HOUSE OF REPRESENTATIVES REGARD5 ING DEBT REPAYMENT.

6 It is the sense of the House of Representatives that—

7 (1) the Congress has a basic moral and ethical

8 responsibility to future generations to repay the

9 Federal debt;

10 (2) the Congress should enact a plan that bal11 ances the budget, and then also develops a regimen

12 for paying off the Federal debt;

13 (3) after the budget is balanced, a surplus

14 should be created, which can be used to begin paying

15 off the debt; and

16 (4) such a plan should be formulated and im17 plemented so that this generation can save future

18 generations from the crushing burdens of the Fed19 eral debt.

20 SEC. 11. SENSE OF CONGRESS REGARDING REPEAL OF

21 HOUSE RULE XLIX AND THE LEGAL LIMIT ON

22 THE PUBLIC DEBT.

23 It is the sense of Congress that—
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1 (1) rule XLIX of the Rules of House of Rep2 resentatives (popularly known as the Gephardt rule)

3 should be repealed;

4 (2) the fiscal year 1996 reconciliation bill

5 should be enacted into law before passage of the

6 debt limit extension; and

7 (3) the debt limit should only be set at levels,

8 and for durations, that help assure a balanced budg9 et by fiscal year 2002 or sooner.

10 SEC. 12. SENSE OF CONGRESS REGARDING THE BUDG11 ETARY TREATMENT OF THE ADMINISTRA12 TIVE COSTS FOR DIRECT LOANS.

13 (a) FINDINGS.—The Congress finds that the Federal

14 Credit Reform Act of 1990 understates the cost to the

15 Government of direct loans because administrative costs

16 are not included in the net present value calculation of

17 Federal direct loan subsidy costs.

18 (b) SENSE OF CONGRESS.—It is the sense of the

19 Congress that the cost of a direct loan should be the net

20 present value, at the time the direct loan is disbursed, of

21 the following cash flows for the estimated life of the loan:

22 (1) Loan disbursement.

23 (2) Repayments of principal.

24 (3) Interest costs and other payments by or to

25 the Government over the life of the loan after ad-
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1 justing for estimated defaults, prepayments, fees,

2 penalties, and other recoveries.

3 (4) In the case of a direct loan made pursuant

4 to a program for which the Congressional Budget

5 Office estimates that for the coming fiscal year (or

6 any prior fiscal year) loan commitments will equal or

7 exceed $5,000,000,000, direct expenses, including

8 expenses arising from—

9 (A) activities related to credit extension,

10 loan origination, and loan servicing;

11 (B) payments to contractors, other Govern12 ment entities, and program participants;

13 (C) management of contractors;

14 (D) collection of delinquents loans; and

15 (E) write-off and close-out of loans.

16 SEC. 13. SENSE OF THE CONGRESS REGARDING COMMIS17 SION ON THE SOLVENCY OF THE FEDERAL

18 MILITARY AND CIVIL SERVICE RETIREMENT

19 FUNDS.

20 (a) FINDINGS.—The Congress finds that the Federal

21 retirement system, for both military and civil service retir22 ees, currently has liabilities of $1.1 trillion, while holding

23 assets worth $340 billion and anticipating employee con24 tributions of $220 billion, which leaves an unfunded liabil25 ity of $540 billion.
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1 (b) SENSE OF CONGRESS.—It is the sense of the

2 Congress that a high-level commission should be convened

3 to study the problems associated with the Federal retire4 ment system and make recommendations that will ensure

5 the long-term solvency of the military and civil service re6 tirement funds.

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