Budget cuts

“ The problem is that most of what the critics have told you about the plan, that there are no budget cuts, there's no deficit reduction, it's all a big tax increase on the middle class, all those things are absolutely untrue. ”

“ And yet, less than one week from now, Congress is poised to allow a series of arbitrary, automatic budget cuts that will do the exact opposite. They will slow our economy. They will eliminate good jobs. They will leave many families who are already stretched to the limit scrambling to figure out what to do. ”

“ The balance of deficit reductions we need to make to get down to $144 billion will come from $22 billion in program cuts. Now, 22 billion is a lot of money, but it's only about 2 percent of our total budget. Take out items we won't touch, such as Social Security and interest on the debt, and the cuts we're proposing come to about 5 percent of the remaining budget-5 cents on the dollar. That's what we're asking Congress to cut. If Congress can't cut 5 cents on a dollar, they should never again utter a word about budget deficits. ”

“ We won't bust the budget to pay for tax cuts. We'll cut spending and close corporate loopholes. That way we'll keep interest rates coming down as we balance the budget, so the economy can grow even faster and stronger. ”

“ I want to ask the hon. minister if he saw any further area of substantial cuts that this budget could have imposed on the Canadian people, forgetting that there is a fallout; that innocent, hardworking, perhaps unemployed Canadian people will bear the negative effect of any further cuts we would have imposed on the Canadian people. That would have to be realized.
I wonder where the Reform Party and the Bloc will be a year from today when we come in with a new budget. They will say further cuts, further cuts. ”

“ Well, I think my first advice would be to read the budget. I think if you look at the plan that the President rolled out and the plan that the President got through Congress for economic recovery, you'll see tax cuts for 95 percent of working families. You'll see a plan that cuts a deficit that was completely out of control in half over four years, provides tax cuts, again, for 95 percent of working families, institutes some fairness, gets our economy going again.
It is always interesting to see the religion some groups get when someone new comes to town. ”

“ There are no spending reductions required to make it work. The only thing that's required is to have spending increase at a reasonable rate of growth, as opposed to an extravagant rate of growth. And the manner in which the Congress, or at least the Senate has proceeded so far, if they actually increase spending by the amount the Senate passed, which is closer to 10 percent, if you take out -- there's a little asterisk in the Senate budget resolution of unnamed future budget cuts -- without that, spending is actually 10 percent. ”

“ This week, the Republicans in Congress put forward a very different budget. And it does just the opposite: it shrinks opportunity and makes it harder for Americans who work hard to get ahead.
The Republican budget begins by handing out massive tax cuts to households making more than $1 million a year. Then, to keep from blowing a hole in the deficit, they’d have to raise taxes on middle-class families with kids. Next, their budget forces deep cuts to investments that help our economy create jobs, like education and scientific research. ”

“ So, after a decade of rising deficits, this budget asks Washington to live within its means, while at the same time investing in our future. It cuts what we can’t afford to pay for what we cannot do without. That’s what families do in hard times. ”

“ As you know, all around town there are activists and congressional offices pouring over the budget, finding cuts that they are convinced are wrong and are made only so that the tax cut can be afforded, within the framework. ”

“ And now we've got to finish the job.
Earlier this year I proposed a plan to balance the budget, and Congress' own economists have certified that plan will balance the budget in 7 years. Republicans in Congress have their own balanced budget plan. If you laid my plan and their plan side by side, you would find enough cuts in common to both plans to balance the budget and provide a tax cut for working families. So the ingredients for a balanced budget are clearly at hand. All we have to do is sit down together and assemble a final agreement based on the things we already agree on. ”

“ In fact, our deficit is now smaller, as a fraction of our national income, than all but one of our major trading partners.
We've made our cuts fairly. We've sought cuts in more than 300 programs in each of the first 2 years of the budget. We've sought to eliminate over a hundred Government programs. Only the wealthiest 1.2 percent of our people were asked to pay higher income taxes. Working families didn't pay a cent more in income taxes because of higher rates. In fact, for every person who had taxes increase, at least 10 working families had their taxes cut. ”

“ To begin with, the American people understand that it's hard enough to support a family and make ends meet without the Government constantly raising taxes. So, this budget contains no tax increase whatsoever-none. Regarding the Federal deficit, our budget calls for prudent cuts in programs that have proven wasteful or are no longer needed-cuts that can be made without harming the poor or elderly. ”

“ If Congress engages in too much spending, they will bust the budget. The President's budget has reasonable levels of spending increases, while still leaving surpluses in Social Security and the non-Social Security accounts. Q Ari, on that same topic, some Republicans on Capitol Hill are talking about further tax cuts -- capital gains, increase the R&D tax credit, perhaps tied to an increase in the minimum wage. How does the President feel about additional tax cuts, either tied or not tied to an increase in the -- the economy? ”

“ Every Congressman wants the Government to save money—but not by separating any of his own constituents from the payroll. Every community is willing that the Government shall spend less money, on the whole, for public buildings, army posts, navy yards and the like—but it flies to arms if the curtailment reaches into its own midst.
What has lately been happening in connection with the President's effort to pare down the budget for the next fiscal year is illustrative of the difficulties in the way of effective economy in Government. ”

“ But what you’ve never seen is the notion that has been presented, so far at least, by the Republicans that deficit reduction -- we’ll only count spending cuts; that we will raise the deficit -- or the debt ceiling dollar for dollar on spending cuts. There are a whole set of rules that have been established that are impossible to meet without doing severe damage to the economy. ”

“ It is a budget that carries an enormous investment of human time and effort; indeed, I believe, the most exhaustive effort ever made to rein in government's chronic overspending. Every proposal is based on a careful review of what government should and should not do, what's worked and what hasn't, what we can and can no longer afford. Collectively, the more than 50 proposals we are making can stop the excessive growth of Federal spending in its tracks and put budget deficits on a permanent downward path. ”

“ But it is not a standstill budget, for America cannot afford to stand still. Our population is growing. Our economy is more complex. Our people's needs are expanding.
But by closing down obsolete installations, by curtailing less urgent programs, by cutting back where cutting back seems to be wise, by insisting on a dollar's worth for a dollar spent, I am able to recommend in this reduced budget the most Federal support in history for education, for health, for retraining the unemployed, and for helping the economically and the physically handicapped. ”

“ I’ve also proposed a spending freeze, so that as we increase investments in things we need, like job creation and middle class tax cuts – we cut spending on those we don’t, like tax cuts for oil companies and investment fund managers, and programs that are redundant, obsolete, or simply ineffective. ”

“ And that is we change the desired funding level that we do so through paying for it, just as each and every family does in this country. They had "pay as you go" for quite some time and the economy grew, jobs were created and the budget deficit shrank. ”

“ Now, if Republicans think that I will finish the job of deficit reduction through spending cuts alone -- and you hear that sometimes coming from them, that sort of after today we're just going to try to shove only spending cuts down -- well -- [laughter] -- shove spending cuts at us that will hurt seniors, or hurt students, or hurt middle-class families, without asking also equivalent sacrifice from millionaires or companies with a lot of lobbyists, et cetera -- if they think that's going to be the formula for how we solve this thing, then they’ve got another thing coming. ”

“ Now, the truth is, our deficits are already shrinking. That’s a fact. I’ve already signed more than $2.5 trillion in deficit reduction into law, and my budget will reduce our deficits by nearly $2 trillion more, without harming the recovery. That surpasses the goal of $4 trillion in deficit reduction that many economists believe will stabilize our finances. ”

“ America's prosperity requires restraining the spending appetite of the federal government. I welcome the bipartisan enthusiasm for spending discipline. I will send you a budget that holds the growth of discretionary spending below inflation, makes tax relief permanent, and stays on track to cut the deficit in half by 2009. (Applause.) My budget substantially reduces or eliminates more than 150 government programs that are not getting results, or duplicate current efforts, or do not fulfill essential priorities. The principle here is clear: Taxpayer dollars must be spent wisely, or not at all. ”

“ In short, we have delivered a 21st century budget that prepares for the future and lives up to our values. It also continues to pay down our national debt, because we walked away from that big $792 billion tax cut that the Congress passed and I vetoed. ”

“ A few years ago, both parties agreed to put in place harmful, automatic cuts that make no distinction between spending we don’t need and spending we do. Those cuts have actually kept our economy from growing faster. Even worse, they’re actually undermining the middle class. ”

“ Given the deficits that have mounted up over the past decade, we can’t afford to make these investments unless we’re also willing to cut what we don’t need. That’s why I’ve submitted to Congress a plan for a three-year budget freeze, and I’m prepared to offer additional savings. But as we work to reform our budget, Congress should also put some skin in the game. I agree with those Republican and Democratic members of Congress who’ve recently said that in these challenging days, we can’t afford what are called earmarks. ”

“ To ensure long-term economic growth, we must get Federal spending under control.
I've called for big changes in many areas, reforms in how this Nation's gridlocked capital does business. Right now, we're coming out of tough times. The American people know that budget deficits threaten the long-term economic health of our country. Over the years, we've accumulated Federal debt totalling $65,000 for every family of four. This doesn't create more wealth. It merely helps pay for our current consumption. ”

“ The budget that the President sent up to the Congress today funds America's vital priorities, such as Social Security, Medicare, child care, fighting crime, health care, while paying off a historic amount of debt, and providing tax relief. What opponents of this budget want to do is spend more government money. The only reason they want to reduce the size of the tax cut is not to pay down more debt, but to spend more money. ”

“ But I think the American people can be assured that the President has put forward a plan that will cut in half the budget deficit in four years and, as I said, make those necessary and needed investments. ”

“ We have to be responsible with our tax dollars. If we don't have a responsible budget, nothing else can get done. That's why with each budget I've submitted to Congress, we've cut Government, cut the deficit, and still invested more in the American people so that they can make the most of their own lives.
Two years ago when I submitted my first budget, some argued that it was impossible to dramatically reduce the deficit, increase investment in education and training and jobs, and create economic opportunities. ”

“ His perception is that the six-year variants could be anything from a deficit to a trillion-dollar surplus. And he is saying that, with that uncertainty, we need to be a heck of a lot more cautious than doing a $1.6 trillion tax cut. MR. FLEISCHER: And I think no matter what business you're in, whether you're in the government or you're in the private sector or you're in the nonprofit sector, that when you prepare a budget, you prepare your budget based on the most reliable, most accurate, most recent information and you proceed accordingly. There is always room for variance in budgets. ”

“ We must keep our promises to the American people. There's no going back on either Gramm-Rudman-Hollings or tax reform. I have submitted a budget that meets the Gramm-Rudman-Hollings deficit limit for fiscal year 1988. It's a good budget, a sound budget. It will keep us on track toward eliminating deficit spending and help build the foundation for a continued economic expansion with low inflation, high job creation, and a reduced trade deficit. ”