Lloyd Bentsen: “the Republican majority's fiscal year 2001 budget resolution before us today tests the bounds of fiscal reality while…”

“the Republican majority's fiscal year 2001 budget resolution before us today tests the bounds of fiscal reality while failing the tests of fiscal responsibility. The Republican budget resolution is premised upon an unsustainable tax cut of $250 billion over 5 years and $1 trillion over 10 years, which absorbs the entire on-budget surplus and then some, while requiring untenable, unreasonable cuts in nondefense discretionary programs. These cuts amount to 11 percent in real terms in the funding of such things as community and regional development, health care, and the environment. Further, the Republican budget does nothing to address the need for a prescription drug benefit and Medicare, does nothing to extend the solvency of Social Security and Medicare. If fully implemented, it fails to adequately reduce the debt. In short, Mr. Chairman, the Republican budget is designed solely to provide huge tax cuts at the expense of proper investment and human resources and prudent debt reduction. The Republican budget assumes that nondefense discretionary spending will be cut by $363 billion over 10 years, cuts such as 1,000 FBI agents, 800 Drug Enforcement Agents, and hundreds of Border Patrol Agents. It means a retreat from our bipartisan efforts to double the funding for the National Institutes of Health. It means cutting Pell Grants for kids to go to college and Head Start for kids to begin to learn.”