This is the first serious effort by any recent administration to attack this deficit.

It is important that the debt, as a percentage of our annual income, go down.

The Congressional Budget Office has estimated that H.R. 3400, as amended by the Sabo amendment, would yield savings of $37.1 billion over 5 years.

Our economic strategy is simple, direct, and I think correct: Put our own economic house in order.

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.

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

We're going to cut spending more and more and more, but we need the revenues, too.

This plan has 200 specific spending cuts, and it reduces Government spending by more than $250 billion.

We are cutting spending.

This is the largest program for deficit reduction in the history of the country, $500 billion.

Of every $10 of deficit reduction, half of it is in spending cuts.

Half of this deficit reduction is coming from spending cuts.

Nobody wants to reduce the deficit because—the reason it got so bad as it did is that there were tough decisions required to turn it around.

The most important thing we could do would be to urgently pass this plan for deficit reduction.

We cannot spend our way out of this crisis.

I'd like to see a balanced budget amendment for America, to protect the American taxpayers.

Governor Clinton has to operate under a balanced budget amendment. He has to do it. That is the law.