Synopses & Reviews
Synopsis
Excerpt from Budget Enforcement for Reconciliation: Hearing Before the Legislation and National Security Subcommittee of the Committee on Government Operations, House of Representatives, One Hundred Third Congress, First Session, May 13, 1993
The President of the United States has proposed extending both the pay-as-you-go requirements and the discretionary spending cap of the Budget Enforcement Act. Yesterday, the President proposed the creation of a deficit reduction account to hold funds from cuts in mandatory spending programs or revenue increases.
The proposal follows through on an important commitment to the public. However, deficit reduction requires making tough choices, whether the savin s are dedicated to special funds or not. The past 12 years of Repub ican administrations have run up three-quarters of the Nation's more than $4 trillion Federal debt, and now it is our job, the Congress' and the administration's, to deal with this problem.
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