The Zero Deficit Plan is a plan for our economic future. The goal is to assure a more secure, prosperous future for us and our children. We are not seeking to balance the budget for its own sake. Reducing government spending and increasing taxes means short-term sacrifice. This can only be justified by the long-term economic benefits that will flow from putting our fiscal house in order. Eliminating the deficit will help put the nation back on the path to lasting prosperity and a rising standard of living in the next century. That larger goal cannot be achieved as long as the nation continues to run large, chronic budget deficit. Balancing the budget and the nation's economic future are directly linked. There is a tie between budget deficits today and what we can enjoy tomorrow: Because there are only so many hours in each day, the principal way Americans can increase their standard of living is if each worker becomes more productive: produces more and better goods and services for each hour worked.
Editor's note · Context
The speaker discusses the importance of balancing the federal budget for long-term economic prosperity.
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