I know this Nation is in a fiscal crisis. Anybody who is paying attention to the details understands that. We have to get serious about deficit reduction. I believe that in order to do so, we have to look at the full picture. We can't just look at discretionary spending. I thank the President for saying he wants to freeze discretionary spending. It is going to be an unpopular decision, but we need to start taking steps like that. I also thank Senators Sessions and McCaskill because they have offered an amendment that is going to be voted on in a few minutes that freezes discretionary spending and puts a cap on it. It is for fiscal years 2011, 2012, and 2013. I voted for that on a couple occasions and still support the concept. But in order for us to get serious about getting our fiscal house in order, we have to put everything on the table. That is the bottom line. When we do the fiscally responsible thing, it is going to be hard. It is going to be difficult politically. It will take determination and political will. But we have to put everything on the table. The multiyear discretionary spending caps were a key part of the 1990, 1993, and 1997 deficit-reduction packages. However, one of the differences in those packages and what Senators Sessions and McCaskill are offering today is those deficit-reduction packages looked at all spending, mandatory and discretionary, as well as revenues.
Editor's note · Context
The speaker addresses the need for serious deficit reduction and the importance of comprehensive fiscal measures.
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