Bill Clinton: “Kasich Deficit Reduction Proposal November 19, 1993 Dear Mr. Speaker: I write to express my strong opposition to the…”

“Kasich Deficit Reduction Proposal November 19, 1993 Dear Mr. Speaker: I write to express my strong opposition to the Penny-Kasich amendment to H.R. 3400. Over the past year, we have taken bold and serious steps to bring down the federal budget deficit and regain control of our economic destiny. We can be proud of the $500 billion in deficit reduction-- including $255 billion in spending cuts--that we accomplished for fiscal years 1994 through 1998. The hard freeze on discretionary budget authority and outlays is the most significant step that has ever been taken to control discretionary spending. Likewise, my executive order establishing targets for mandatory spending (along with the specific mandatory savings contained in the reconciliation bill) is the first real step that has been taken to control unforeseen increases in entitlement programs. Furthermore, we have introduced the most detailed plan ever to provide universal health coverage and control the rise in health care spending--which is the main culprit in driving up the budget deficit. With specific regard to fiscal year 1994, we have already achieved, in the budget and appropriations process, savings of some $12 billion from the 1994 cap on budget authority. That is a major accomplishment. I have also sent to the Congress a 6-year $9 billion package of additional spending reductions and a $2 billion fiscal year 1994 rescission bill. I am also supporting efforts to increase these savings as contained in H.R. 3400.…”