We're going to have to rein in these deficits in the long run.

This represents the biggest deficit reduction plan since the 1990s.

The Commission is charged with identifying policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run.

These amendments will increase by $155 million the overall discretionary budget authority in my FY 2011 Budget.

Mandatory spending increases and tax cuts must be paid for; they're not free, and borrowing to finance them is not a sustainable long-term policy.

Statutory PAYGO would hold us to a simple but bedrock principle: Congress can only spend a dollar if it saves a dollar elsewhere.

The passage of statutory PAYGO today will help usher out an era of irresponsibility and begin putting the country back on a fiscally sustainable path.

We simply cannot continue to spend as if deficits don't have consequences.

The CBO has said that this is a deficit reduction, not a deficit increase.

The single most important thing we could do right now for deficit reduction is to spark strong economic growth.

It is fiscally irresponsible to provide extra benefits in States with low unemployment rates.

This bill spends too much.

This puts a balanced budget in jeopardy and risks future tax increases.

Shifting liabilities for catastrophe exposure from the private sector and State insurance programs to the Federal government would be fiscally irresponsible.

We have turned the record deficits into record surpluses.

We've now run the first back-to-back surpluses in over 40 years.

We ought to continue to pay this debt down, to keep the economy going.

The surplus in the first 4 months of this fiscal year was $25 billion larger than the surplus last year.