Herb Kohl: “I thank Senator Breaux. The balanced budget we are presenting today is balanced not only on the bottom line, but it is…”

“I thank Senator Breaux. The balanced budget we are presenting today is balanced not only on the bottom line, but it is balanced in its political support, balanced in the sacrifices it asks from all of us, and balanced in the benefits it bestows. Balance and fairness has not been the hallmark of previous budget plans presented to this Senate. Let me put this on a more personal level. I could not ask the people of Wisconsin to support a budget that cut their benefits while it was giving me a big tax break, and I could not ask them to support a budget designed to improve my party's chances in the 1996 Presidential election rather than their children's chances in the world economy of the 21st century. But I can ask them to support the plan we are releasing today because it is fair, it is smart, and it is bipartisan. The budget we present today contains almost $600 billion in proposed savings over 5 years, and that is without calculating the savings in interest costs from reduced debt. Those savings are spread across almost every group in society and almost every Government program. Medicare, Medicaid, welfare, Federal retirement programs, and even Social Security are slated for spending reductions. Corporate welfare is cut. Payments to chronic individual welfare recipients are eliminated. Defense and domestic spending are brought below a freeze.”