We can never take the deficit down to zero.

For the first time in a long time, we'll be making a meaningful downpayment on the massive Federal deficit.

We are seizing control of our economic destiny.

If we don't do it, this deficit will move up toward $500 billion and $600 million a year.

There will be many more budget cuts.

I think we need a balanced package.

This money will be spent to reduce the deficit and to provide economic incentives.

Tonight I will address the Nation about my plans to put our economic house in order.

This fuel tax increase is quite modest and, for example, will be a much lower burden on fuel than the Btu tax.

We want to reduce the deficit by $500 billion.

Every small business in your State has a chance to lower its tax burden by investing more in its business.

Now we are taking steps to implement that plan and get timber to the mills.

Over 90 percent of the small businesses are eligible for an actual tax reduction.

We need to bring this deficit down to zero.

I think that's a modest and fair price to pay for the change we seek and the progress we're making.

This plan will contain the largest reduction in our deficit in the Nation's history.

The plan will reduce the deficit by very close to $500 billion, equally divided between spending cuts and revenue increases.

Let me just give you some examples of how they'll be created.