Transportation now generates 11 percent of U.S. economic activity, and growing. And this Administration's commitment is growing as well. President Clinton's budget this year asks for 42 percent more for highways and transit than annual average spending during the prior Administration. The President's leadership on the economy, which has given us the lowest unemployment and inflation rates in a generation, and the first balanced budget since Lyndon Johnson occupied the Oval Office. We are seeking a balanced surface transportation program.
Balance is important.
The time of thinking the construction of a road is the answer to everybody's problem is over. You have to have strong transit systems, airports, and seaports. President Clinton's proposal will do all these things. Lawmakers included almost all the President's principles in their proposals, and did it with bipartisan support. But, as the President said last week, the legislation now in conference is far in excess of anything we can afford.