Political Quotes

“In 1974, 100 Senators agreed on reconciliation as a fast track, filibuster-free, but only for one purpose: reducing the deficit. It had three pillars: first, reduce the deficit over a 10-year period; second, reduce the deficit in each and every year after that 10-year period in each title of the bill; and, third, use honest numbers. In 1996, the Republican team was in the majority and decided on a nuclear option to allow that reconciliation process to be used to increase deficits in the 10-year window. That was unfortunate because it destroyed the agreement all 100 Senators had agreed to in 1974. But now, today, if we proceed with this current policy baseline, there are two other pillars that you are destroying of the architecture to create fiscal discipline. The second pillar was no deficits after the 10-year period. That has been destroyed. The third was to use honest numbers from the Congressional Budget Office on a current law basis comparing each provision in the bill as compared to the provision not being in the bill. So here we are, taking a step that is as significant as it was in 1996. All three pillars will be brought down not by Democrats but by Republicans.”