John Ensign: “the significant budget challenges faced by our Federal Government demand that Congress develop proposals for sound…”

“the significant budget challenges faced by our Federal Government demand that Congress develop proposals for sound economic growth, while also working to cut wasteful government spending. The Budget resolution before the Senate today goes a long way towards accomplishing that goal. Even before 9/11, we know now that our current recession began in late 2000. The attack on America on September 11, the necessary cost of the war on terrorism, and now the threat of a war with Iraq have led to a dramatic deterioration of tax revenues, huge spending increases, and the return to budget deficits. Over the last 2 years, revenues to the Federal Government have fallen by nearly 9 percent. And spending grew by 12 percent over that same period. Unfortunately, revenues continue to underperform in 2003. Congress cannot ignore our struggling economy, and I believe that the resolution before the Senate today addresses many of our economic problems. The committee-reported budget resolution increases deficits in the near-term in order to invest in the economy and fight the war on terrorism. The resolution provides over $725 billion during the 10-year period from 2003 to 2013 to the Senate Finance Committee for economic growth and job creation. This tax relief is designed to let American families keep more of the money they earn. Economic growth is more easily achieved in an atmosphere where more Americans are able to save and invest their money.”