James P. Greenwood: “A very important point has to be made here. If we recall in the first 100 days of this Congress, the first three…”

“A very important point has to be made here. If we recall in the first 100 days of this Congress, the first three months-plus, we paid for those tax reductions. The way we did it is we reduced by $180 billion over the next seven years the discretionary spending for all of the Federal bureaucracies. That was hard. We made the tough choices, and that is how we funded the tax reduction for the families and so forth. Then, on top of that, we reduced the cost to the Federal Government of the welfare program in our welfare reform bill. Putting people back to work and making them less dependent, we saved another $80 billion. We saved every penny which we planned to offer back to the American people in tax reductions.”