Ehrlich on Washington column, October 15, 1995

NEWS FROM Robert L. Ehrlich, Jr. Second Congressional District of Maryland 1 407 York Rood, Suite 304 3 1 5 Cannon House Office Building Lutherville, Maryland 2 1 093 Washington, D.C. 205 1 5 EHRLICH ON WASHINGTON Week of October 15, 1995 By Congressman Robert L. Ehrlich, Jr. A BALANCED BUDGET: GOOD FOR BUSINESS During the Columbus Day weekend I participated in the Maryland Chamber of Commerce’s annual Legislative Conference in Ocean City. As always, I welcome the opportunity to interact with members of Maryland’s jobs-making community, and to discuss issues of concern to employers and employees alike. While we talked about a myriad of issues, most of the comments and questions I received were about the GOP’s balanced budget proposal. 1 was pleased to see that Maryland’s business leaders have taken an active interests in this vital legislative initiative. Despite some of the misinformation being spread by some in state government about the impact federal budget “cuts” will have on Maryland, our state’s business community clearly understands that balancing the budget is not only the right thing to do for our children~it is a necessity from the standpoint of short-term economic growth. Once a balanced budget has been achieved, it will mean 6.1 million new jobs. Per family income will increase by $1 ,000 a year. Interest rates will decline by as much as two percent¬ making loans for cars, education, or start up businesses easier to obtain. In short, balancing the budget would start an economic boom which would broaden opportunity for all Marylanders. Too often, however, I have seen phantom numbers and statistics compiled and circulated by those who have made an industry out of terrifying poor people, students, and seniors here in