Mr. President, as I pointed out yesterday in this daily report--which I began 3 years ago--Federal debt has risen to astronomical proportions. As of the close of business yesterday, Monday, February 27, the Federal debt stood at $4,839,489,402,270.31--or $18,370.79 on a per capita basis.<p>
Mr. President, anyone even remotely familiar with the U.S. Constitution knows that no President can spend a dime of Federal tax money that has not first been authorized and appropriated by Congress--both the House of Representatives and the U.S. Senate.<p>
Mr. President, I am convinced today, as I was back in 1973, that it is the absolute responsibility and duty of Congress to control Federal spending. The U.S. Senate has a momentous challenge later today in lowering this enormous debt by approving a balanced budget amendment to the U.S. Constitution and sending it to the 50 States for ratification.</BODY>
