[Congressional Record Volume 143, Number 37 (Thursday, March 20, 1997)]
[Senate]
[Page S2610]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                           BALANCE THE BUDGET

  Mr. ROBB. Mr. President, leadership often involves seizing the 
moment. And right now the moment is a realbut rapidly fleeting chance 
to actually balance the Federal budget. For those of us who have long 
been dedicated to stopping the Federal Government from spending more 
than it takes in, the moment is now. While we're away from Washington 
during the recess, I hope that we will use this time to prepare 
ourselves for serious work on the budget when we return. We cannot let 
another opportunity to do what's right pass us by.
  I recognize the fear on both sides. The President is understandably 
reluctant to embrace a necessary change in the Consumer Price Index 
because of its effect, however minimal, on benefits for a large and 
vocal segment of the population. The Republican Party is reluctant to 
scale back its calls for a massive tax cut because of a similar effect 
on an equally vocal segment of their supporters.
  But simple math dictates that both must occur if we are truly 
interested in balancing the budget and keeping it in balance over the 
long term. And the reality is that entitlements have got to be curbed, 
and the resulting savings have got to go to reducing the deficit, not 
tax cuts.
  The Speaker of the House has taken a bold step by expressing a 
willingness to surrender tax cuts until the budget is balanced. I hope 
the President will meet this bold step by expressing his willingness to 
reconsider an adjustment in the CPI, or some other means to accomplish 
the same goal.
  As meetings take place over the course of the congressional recess, I 
would encourage both sides to use as a starting point the Centrist 
Coalition budget developed last year by a bipartisan group of Senators, 
including myself.
  The Centrist plan, known also as the Chafee-Breaux plan, was the only 
budget in the Senate last year that received bipartisan support. In 
fact, the Centrist plan received 46 votes. And to me, that seems like a 
logical place to start.
  Our plan used conservative economic assumptions, a rational reduction 
in the Consumer Price Index, and a modest tax cut. We did not have, 
within our coalition, universal agreement on all aspects of the plan. 
Personally, I have always wanted to postpone even modest tax cuts until 
we actually achieve balance. But, I believe it provides a reasonable 
roadmap now of how to get from here to a budget that balances. I hope 
that this plan will help guide congressional and White House 
negotiators during their upcoming budget talks.
  With that, Mr. President, I hope all of our colleagues come back 
fully reenvigorated and ready to start producing some results.
  I yield the floor.
  The PRESIDING OFFICER. Who seeks time?
  Mr. GRASSLEY addressed the Chair.
  The PRESIDING OFFICER. The Senator from Iowa.

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