John Sarbanes: “There are sharp policy differences over the components of a 7-year balanced budget. One approach would make a cut of…”

“There are sharp policy differences over the components of a 7-year balanced budget. One approach would make a cut of $270 billion in Medicare and give tax breaks of $250 billion. There are many of us who think that is a wrong set of priorities, that we ought not to be giving the tax breaks and, by not doing so we would not be making deep cuts in Medicare. That is an issue that needs to be argued out among the Members of the Congress and between the Congress and the President. The President has stated he wants to move to a balanced budget, but he does not want to do it at the sacrifice of important priorities involving Medicare, Medicaid, health care for our citizens, involving educational programs, the opportunity for young people to go to college, involving environmental matters, in terms of safeguarding our air and water and protecting and enhancing our environment.”