in my few minutes, I will make three points. The first point is to agree with my colleague, the Senator from Nebraska, by the analysis of the Congressional Budget Office, the President's budget does indeed balance in the year 2002. It does, according to the Congressional Budget Office, because of an automatic set of tax increases and spending cuts in the years 2001 and 2002, if the Congressional Budget Office's projections of spending and of the economy are correct. In fact, Mr. President, the President's budget would balance if the Congressional Budget Office showed half a trillion dollars' difference between now and the year 2000 with automatic huge tax increases and spending cuts in the years thereafter. If you put in such a trigger, the balance is automatic. The real point is that in the real world, using the same set of figures, it will not reach balance unless that trigger is pulled. We have just voted against the trigger. The second point I would like to make is with respect to the debate right now on two amendments in front of us. Those two amendments each say that we should not reduce veterans benefits in the way that the President's budget indicates they will be reduced, a little increase in the first couple of years, then a huge reduction thereafter. The difference is the classical difference between the parties. Republicans restore those veterans benefits by welfare reform.…
Editor's note · Context
Discussing the President's budget and its impact on veterans' benefits.
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