On the recordMay 16, 2012
No, we cannot. Last year, for the first time ever, all of the money that came in was less than the money that went out automatically to these programs, where, if you meet the definition for the program, you get the money. It is at 60 percent now. It has not been that many years ago that it was at 50 percent. It was not that many years before that it was at 40 percent. So we have to deal with these issues because they lead us to an inevitable place. Do we want to be Europe today a few years from now? Surely not. Surely the answer is no. We cannot avoid that unless we have a plan. It is easy to talk about how bad the other plan is. But what we all ought to be doing is coming up with a plan that gets us to where we all know we need to be.
Source
govinfo.gov
