On the recordMay 7, 2013
The Federal budget is approximately $3.6 trillion; $2.4 trillion is what we call ``mandatory spending.'' That's Medicare, Medicaid, Social Security, and interest payments on the debt. Approximately $1.2 trillion is the discretionary budget, and we sit here and moan about $85 billion in sequester. Businesses have had the sequester over the past 3 to 4 years. Not-for-profits have had the sequester for the past 3 or 4 years. It's about time that the Federal Government sequestered also. I want to thank the President for addressing the mandatory-spending program. With his chained CPI address on Social Security, he recognizes the fact that, if we want to stop sequestration from occurring, mandatory programs have to be reformed. ____________________
