Lloyd Bentsen: “I rise in defense of fiscal responsibility and in support of the Democratic budget resolution and in opposition to the…”

“I rise in defense of fiscal responsibility and in support of the Democratic budget resolution and in opposition to the Republican budget resolution. When I was elected to Congress, my highest priority was to balance the unified budget. We have apparently accomplished that goal. Now my highest priority is to pay down the publicly held debt and extend Social Security and Medicare solvency. Mr. Chairman, a week ago the majority on the Committee on the Budget submitted two pages of numbers and called it a budget resolution. It is as much a budget resolution as a blank piece of paper is a Pulitzer Prize winning novel. The budget resolution is two pages, no explanation. Draconian spending cuts of $181 billion over 10 years are hidden in blue smoke and mirrors. This budget says we are going to increase defense spending and education and cut other programs by $27 billion. It is not going to happen. The budget builds on the hope that the CBO can re-estimate the base line just so we can put off until September either any cuts we have to make and either have a showdown or disaster like last year. What this budget will do is bust the caps and the pay-go rules. The majority's budget resolution gives more priority to enacting an $800 billion tax break than paying down the debt. It does not stop Social Security and Medicare from going insolvent.”