On the recordApril 5, 2001
First, no one is talking about raising taxes. No one on either side is talking about raising taxes. We are talking about a budget for next year and conceivably for 10 years. What are the values and the priorities of the American people? That is what we are talking about in this discussion. I suggest when we look at the President's proposal, if we lock up Social Security and Medicare, we have $2.5 trillion to make decisions about values and priorities of the American people. The President's tax cut, when added up, takes every penny. There is zero for education increases, zero for prescription drug coverage, and we all have heard why we need to be doing this. Unfortunately, in the President's budget, in order to pay for spending, Medicare is used because there is nothing left after his tax cut. He takes Medicare out of the lockbox and spends it. We are suggesting and addressing the need for long-term stimulus. It addresses the need to protect Social Security and Medicare, provide a tax cut, short-term stimulus. We all support a long-term tax cut. Pay down the debt to the maximum amount and make sure we have critical investments to allow the economy to proceed. That is the debate. Yes, we have a fundamental difference. We are not willing to touch Medicare and Social Security. We say hands off Medicare, hands off Social Security completely. Let's make sure we are paying down the debt. Let's make sure we give tax cuts.
Source
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