the budget document is a very important document. It speaks to the priorities of our Nation, and it gives instructions to our committees to report out legislation consistent with that of the budget resolution. It gives instructions to the Appropriations Committee to pass appropriations bills and to other committees as it may affect revenues or mandatory spending. We have that budget document for the fiscal year that begins October 1 of this year. That was included in the Budget Control Act which passed this body by 74 votes. It has the force and effect of law. So our appropriations committees know the numbers for the appropriations bills for the year that begins October 1, and the other committees know what the requirements will be. The question is whether we should have a longer term commitment on dealing with our budget problems. We do need a bipartisan, credible program that involves not only the Democrats and Republicans in the Senate, but also the Democrats and Republicans in the House, and the President of the United States. We need to avoid sequestration, and we need the predictability for our economy and for those who act upon our actions to know what the rules will be. We need to have a responsible plan to deal with the long-term deficit that is balanced and fair, that involves more revenue and spending cuts, that allows our recovery to continue, and is bipartisan.…
On the recordMay 16, 2012
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