Steven Holt: “The right question to ask is not, ``How can Congress create the political will necessary to balance our budget?'' The…”

“The right question to ask is not, ``How can Congress create the political will necessary to balance our budget?'' The right questions to ask are, ``What is the right budget to enable a vigorous economy?'' And that is not necessarily a budget in exact numerical equality between income and outgo. And, second, ``How has America balanced its budget in the past?'' Madam Speaker, I took great personal satisfaction during my first term as a member of this body in voting for and helping to achieve America's first balanced budget in a generation. It was not easy to attain. Those members of Congress, myself included, who believe in fiscal responsibility and budgetary discipline, had to make tough choices and cast difficult votes in order to put the federal government's fiscal house in order. The White House and Congress can balance the federal budget without a constitutional amendment. We needed two things: sufficient income and no unnecessary spending. A revenue base made balancing the budget possible. We also had a recognition that a vibrant economy produces more revenue than an economy in a recession. That, Madam Speaker, is what is lacking today--not the political will, but the economic fundamentals. America's revenue base was decimated by the Bush tax cuts, which gave away hundreds of billions of dollars to the most fortunate Americans while doing little to help middle-class families.…”