On the recordMarch 21, 2013
We all know a budget is critical because it is not just a bunch of numbers, it is a statement as to who we are as a people--what are our values, what we think is worth investing in, what we think we should cut, and so on. It is interesting because we have been attacked--Senator Murray and the Democrats--for backing a budget the Republicans say is not in balance. Well, I want to argue the point. I think it is, in fact, the only budget, between this budget and the Republican budget in the House--which is the one embraced by the Republicans--that is balanced in many ways. The first way this budget is balanced is between investments--the things we need to invest in for our Nation; in innovation, education, investing in our kids, investing in their health--and commitments we have made over the years to our senior citizens. I am going to talk more about that in a minute, about what the Republicans do to Medicare in their budget--by the way, they kill it. I will explain how and why. Our budget also moves us toward numerical balance in a way that economists of all sizes and stripes believe is wise, which is to get the deficit down below 3 percent of GDP. My colleagues don't think that is good enough, although I never heard one word from them--not one word--when George W. Bush came in and shredded the budget.…
