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Public Statements

A Balanced Deficit-Reducing Budget

Floor Speech

Location: Washington, DC

Mr. CARNEY. Mr. Speaker, I rise today in support of a 10-year, $4 trillion deficit-reduction plan that is both balanced and comprehensive. In the Congress today, there is now broad support in both parties from both Chambers to reduce the deficit by $4 trillion over 10 years. That's the goal set by the President's deficit reduction commission.

Today, we will consider a number of budget proposals for fiscal year 2013. None of them is perfect, but it is critical that we come together behind a reasonable 10-year, $4 trillion framework and start working on the details. Time is running out to fix this critical problem.

I believe the Van Hollen and the Cooper-LaTourette proposals are both frameworks that deserve support and consideration. Both of them are balanced and fair. They include revenue increases and spending cuts, and they don't undermine the fragile economic recovery in the short term.

Progress is difficult, and today's budget votes are only the first step. I look forward to working with my colleagues on both sides of the aisle on this difficult task.

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