Quote – Rep. Dick Armey (R-TX), Congressional Record.

Taxes will go up. The economy will sputter along. Dreams will be put off and all this for the hollow promise of deficit reduction and magical theories of lower interest rates. Like so many of the President's past promises, deficit reduction will be another cruel hoax. Tax revenues will lag because the economy will fall. Government spending will increase at least another $300 billion a year. And the deficit will reach another record high.

Rep. Dick Armey (R-TX), speaking to the House of Representatives: Conference Report on H.R. 2264, Omnibus Budget Reconciliation Act of 1993 (Page: H6267). Congressional Record.

Thursday, August 5, 1993