Mr. Speaker, I yield 2 minutes to the gentlewoman from California (Ms. Pelosi), Speaker Emerita of the House.

I think the CBO actually released a memo very recently documenting the severity of the cuts that would be necessary to achieve a balanced budget ten years from now under the restrictions that you articulated, and pretty clearly it is not…

There is short immediate consequences and longer-term consequences. The immediate consequence, I think under any scenario would be we would go into recession.

And Moody's projected two and a half million job losses as well as a recession in 2024, if that sort of policy were to come about.

I want to pick up on the idea of balancing the budget in ten years because some of my colleagues on the other side of the aisle have committed to that.

Today, American workers have benefited from a record 12.4 million jobs created since President Biden took office.

What a difference 2 years and 2 months make. Under President Biden and Congressional Democrats' leadership, we have rolled out vaccines and testing, seen a record 12 million new jobs, unemployment at 50-year-plus lows, and have had the…

It is damn unfair that a teacher or firefighter in my neighborhood in Northeast Philadelphia pays a higher percentage of their paycheck in taxes than a billionaire.

It restores the full child tax credit that we passed as part of the American Rescue Plan--and when it was in place, that full child tax credit cut child poverty by more than half.

the Biden budget accomplishes all of this and more while making sure no one who makes less than $400,000 a year pays a penny more in new taxes.

President Biden's 2024 budget is exactly the plan we need to build on this progress, and how proud I was to be with the President in my district in Philadelphia 2 weeks ago today when he unveiled this budget.