You cannot cut your way to deficit reduction.— Nancy Pelosi
Most Powerful Deficit Reduction quotations
I voted for the Deficit Reduction Package with significant heartburn over the student aid provisions.
Reconciliation cannot be used to pass comprehensive health care reform.
It won't work because it was never designed for that kind of significant legislation; it was designed for deficit reduction.
I believe that we should allow younger workers to contribute toward a personal account that they own, as long as it is coupled with deficit reduction measures that enhance the long-term condition of Social Security.
Although economists have studied the sensitivity of import and export volumes to changes in the exchange rate, there is still much uncertainty about just how much the dollar must change to bring about any given reduction in our trade deficit.
Deficit reduction is not an end in itself.
It is the means to an end. Canadians must now decide what kind of country they want to build with the hard-won dividend.
History is replete with examples of moments in time when we talk about deficit reduction and try to advance on it around the world, that is, where it leads to job losses, not job creation.
Our platform calls for a balanced deficit reduction plan where the wealthy pay their fair share. And when your country is in a costly war, with our soldiers sacrificing abroad and our nation facing a debt crisis at home, being asked to pay your fair share isn't class warfare - it's patriotism.
The poor have been sent to the front lines of a federal budget deficit reduction war that few other groups were drafted to fight.
But the debt limit obviously is something that needs to and will be passed.
That is not inconsistent with a process and a belief that we have to get significant deficit reduction.
My point is cutting spending shouldn't be reliant on the debt limit though.
It's something we have to do. The good news for America is, leaders in both parties, the president, believe that we have to have significant deficit reduction. So the intent is there. And I think what America is going to demand is that our leaders come together.
We're going to need to absorb some pain.
The Republicans want to pile all the pain on people who can least afford it and the middle class and Democrats under his leadership want to make sure that we can address deficit reduction and continue to make investments and shared sacrifice is going to be imperative in order to be able to do that.
In fact, I think - our view of this is that while the agreement, the compromise did not achieve the kind of super-sized deficit reduction that we sought, it did end the uncertainty around the perception, the possibility that the United States might default on its obligations for its first time. That was a good thing.
Reconciliation is a special budget procedure to change entitlement and tax laws.
It cannot be filibustered and requires only a simple majority in the Senate to be passed. It is primarily intended for deficit and mandatory spending reduction.
We need to have the growth. If we simply look at this as being deficit-neutral, you're never going to get the type of tax reform and tax reductions that you need to get to sustain 3 percent economic growth. We really do believe that the tax code is what's holding back the American economy.
Our true choice is not between tax reduction on the one hand and the avoidance of large federal deficits on the other. It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget, just as it will never produce enough jobs or enough profits.
I want people to understand that, look, we're in a period of democratic deficit, democratic recession. There are fewer democracies in the world today than in 2005, and in many of the countries that are still technically democracies, we're seeing a reduction in the rule of law. And that's especially true in Central Europe, but it's also true of places like South Africa, the Philippines.
Only dramatic cuts in the federal deficit, a rollback of regulations that cripple small and community banks, a cancellation of future tax increase plans, a big reduction in federal spending, repeal of Obamacare, freeing manufacturing from the prospect of carbon taxation and unleashing out domestic energy potential can solve our problems. But Obama is not about to undo his legacy of disaster for the American people.
D energy - Domestic jobs; Domestic energy; Deficit reduction.
The federal budget deficit isn't the nation's major economic problem and deficit reduction shouldn't be our major goal. Our problem is lack of good jobs and sufficient growth, and our goal must be to revive both.
He [Barack Obama] talked about deficit reduction.
This got me he was talking about how the deficit's being reduced faster in the last 60 years. That's because he's collected more taxes. That's like bragging that you paid your rent after you robbed a bank. It makes no sense.
When Republicans used reconciliation in 2001 for the Bush tax cuts, they used it to increase the deficit. The whole purpose of reconciliation is for deficit reduction!
The challenge for any government is how do you do two things at the same time.
How do you put money forward for things like the payroll tax holiday, for things like getting a jump-start on infrastructure, for building schools, and make the decisions for long-term deficit reduction.
Until the President produces a responsible deficit reduction plan, I'm not going to the White House to negotiate with myself.
Honest talk about the deficit is risky.
Voters are more enthusiastic about the abstract notion of deficit reduction than about the painful details of accomplishing it.
Cold-turkey deficit reduction would cause a significant recession.
A recent analysis by the Congressional Budget Office estimated that going headlong over the cliff would cause our gross domestic product, which has been growing at an annual rate of around 2 percent, to fall at a rate of 2.9 percent in the first half of 2013.
A drastic reduction in the deficit...will take place in the fiscal year '82.
Tax rates for the wealthy should revert to Clinton-era levels, both because it is necessary for long-term deficit reduction and because fairness dictates it. Moreover, there is no proof that higher marginal rates dissuade investment, all the rhetoric from the Right notwithstanding.