Charles W. Stenholm: “The Blue Dog budget that we offer at this time is designed and based entirely on the simple philosophy that when you…”

“The Blue Dog budget that we offer at this time is designed and based entirely on the simple philosophy that when you find yourself in a hole, the first rule is to quit digging. Our country has a massive problem with fiscal deficits today. Our budget is built around the simple concept of pay as you go. If we want to pass a tax cut, cut spending to make room for it or raise some other tax to keep it from going to the bottom-line deficit. In other words, we are suggesting taking the shovels away from Congress and the President. Our plan would cut the deficit in half in 2 years and put the budget on a path back towards budget surpluses in 2012 and balance in 2010. Our budget has $210 billion less debt over the next 5 years than the resolution reported by the Committee on the Budget. The Blue Dog budget includes the pay-as-you-go rules that were adopted by a bipartisan vote in the Senate, as well as enforceable limits on discretionary spending. The Blue Dog budget adopts the tough spending limits by adopting the President's overall spending levels, but reallocates funding to put more resources into veterans, education, health care, and other priorities, and keeps from reopening the farm bill and also providing assistance to small businesses, manufacturers, firemen and policemen, the first responders in the war on terrorism.”