A Quote by Steve Chabot
Even with not having a balanced budget at this time, I support tax cuts. That will help limit spending.
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I support responsible spending, and balancing the budget, but this tax cut and the budget cuts of last month accomplish neither of these goals.
Every tax cut I call for is targeted, it's responsible and it is paid for within my balanced budget plan. My tax cuts will not undermine our economy. They will speed economic growth.
Whenever people in Washington complain about spending cuts, they mean spending cuts that would affect defense contractors. They want to massively increase spending cuts everywhere else in the budget.
I do think that Republicans are flirting with their tax cut, which has always been the narcotic of Republicans, that they in fact have to at some point, with any remote pretense of candor, abandon any pretense of a balanced budget.I mean, they talk about - because they are going to finance the tax cut by tax cuts. That's how they're going to do it. And I do think that the will is there right now in the Congress to act. I think they will be as close to unity as you will see on Capitol Hill this year.
To reduce deficit spending and our enormous debt, you reign in spending. You cut the budget. You don't take more from the private sector and grow government with it. And that's exactly what Obama has in mind with this expiration of Bush tax cuts proposal of his.
What Mae West said about sex is true about taxes. All tax cuts are good tax cuts; even bad tax cuts are good tax cuts.
I would vote to increase the debt limit if there was a corresponding level of cuts. And if there was some serious talk about a balanced budget amendment, which we as governors always had to deal with.
A tax cut means higher family income and higher business profits and a balanced federal budget....As the national income grows, the federal government will ultimately end up with more revenues. Prosperity is the real way to balance our budget. By lowering tax rates, by increasing jobs and income, we can expand tax revenues and finally bring our budget into balance.
A federal bailout would spare California from having to make spending cuts needed to bring its budget into balance. The matter has become urgent since California voters rejected several tax-hiking ballot initiatives. Rather than taking the vote as a signal to dramatically curtail spending, the state turned to the feds. If they get a free pass, the politicians can avoid fixing any of their past mistakes or preparing California for the future.
You've got to either say you're going to cut taxes and find some spending cuts. I think we ought to reform long-term entitlement spending in the country, but you can't out of one side of your mouth say, 'Yes, we're for tax cuts, we're for spending discipline, and we're for bringing down the debt.'
We certainly could have voted on making the middle-class tax cuts and tax cuts for working families permanent had the Republicans not insisted that the only way they would support those tax breaks is if we also added $700 billion to the deficit to give tax breaks to the wealthiest 2 percent of Americans. That's what was really disturbing.
I believe we need a balanced, bipartisan approach to debt reduction that includes a combination of spending cuts, investments in economic growth, and simplification of the tax code that closes corporate loopholes that incentivize companies to ship jobs overseas.
It is time we passed a balanced budget amendment and return this government to limited spending.
Much fiscal policy is implemented, not through spending increases, but through tax credits and other so-called tax expenditures. The markets should respond to them as they do spending cuts, with little contraction in economic activity.
Governments need to lay out a credible path to reducing their deficits in the medium term, but without excessively enfeebling an already weak recovery. That means raising retirement ages and overhauling pensions; putting in place the budget rules and institutions that will curb future profligacy; and favouring spending cuts over tax increases.
Of course, tax revenues have ended up being substantially higher than they were at the time these dire projections were made, and we are very close now to having a balanced budget. All that has been very helpful.
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