A Quote by David Plouffe
But the debt limit obviously is something that needs to and will be passed. That is not inconsistent with a process and a belief that we have to get significant deficit reduction.
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My point is cutting spending shouldn't be reliant on the debt limit though. It's something we have to do. The good news for America is, leaders in both parties, the president, believe that we have to have significant deficit reduction. So the intent is there. And I think what America is going to demand is that our leaders come together.
The Farm Bill is one of the only bills that provides substantial deficit reduction that passed the Senate this year. It only makes sense that this deficit reduction bill would be included in a larger deficit reduction agreement.
When Republicans say, 'The first thing you do when you do deficit reduction is reduce rates,' it would be like Democrats saying, 'The first thing you do when you do deficit reduction is provide free Medicare at age 55.' We'd like to do that! But it won't bring the deficit down. That's for sure.
I voted for the Deficit Reduction Package with significant heartburn over the student aid provisions.
It's not class warfare to suggest that we shouldn't look to seniors and the less fortunate to bear the brunt of deficit reduction. I believe America needs to understand there needs to be a sense of fairness.
So when folks talk about the deficit and leaving the deficit for our children, we will never get out of debt had this country until people get back to work, until they have good-paying jobs, and in between times, we will not move this economy forward until we are helping people be able to keep going in this recession.
The U.S. has a law on the books called the debt limit, but the name is misleading. The debt limit started in 1917 for the purpose of facilitating more national debt, not reducing it. It still serves that purpose. It's unconnected to spending, hurts our credit rating and has been an abject failure at limiting debt.
When you're talking about long-term deficit reduction, $4 trillion worth, entitlement reform needs to be part of it.
Reconciliation cannot be used to pass comprehensive health care reform. It won't work because it was never designed for that kind of significant legislation; it was designed for deficit reduction.
Reconciliation is a special budget procedure to change entitlement and tax laws. It cannot be filibustered and requires only a simple majority in the Senate to be passed. It is primarily intended for deficit and mandatory spending reduction.
Reconciliation is a special budget procedure to change entitlement and tax laws. It cannot be filibustered and requires only a simple majority in the Senate to be passed. It is primarily intended for deficit and mandatory spending reduction
Well, as I said, you know the issue of Greek debt, they've grasped the principle of debt reduction. I think most people would argue that probably more needs to be done on that front, and they've just begun to take the first steps to accepting that there's going to have to be much closer economic integration in Europe.
In point of fact, 'Simpson-Bowles' has become a symbol, or SimBowl, rather than an actual plan, political shorthand for the process of long-term deficit reduction.
Faster economic growth helps raise the economy which raises revenues. And that helps us tackle the deficit. There's two things we've got to do to get rid of this debt. Deal with entitlements, that's why we're frustrated health care reform hasn't passed the senate yet.
Well obviously the economy is critical to everything we do and we need to get the economy back in shape, the deficit down, the debt paid off, so that the economy can grow again and grow properly.
A drastic reduction in the deficit...will take place in the fiscal year '82.
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