[Weekly Compilation of Presidential Documents Volume 37, Number 13 (Monday, April 2, 2001)]
[Pages 512-513]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
The President's Radio Address

March 24, 2001

    Good morning. Just over 2 weeks ago, the House of Representatives 
passed a large part of my tax relief plan. Now the House is about to 
vote on my budget, the funding we provide for the needs and goals of our 
Government. I have sent the Congress a budget plan that reflects our 
values as a people.
     My budget is compassionate. It dedicates $238 billion to Medicare 
next year alone, enough to fund all current programs and to begin a new 
prescription drug benefit for low income seniors. It protects all 2.6 
trillion of the Social Security surplus for Social Security and for 
Social Security alone. It increases spending on education substantially. 
It provides tax credits to help low income people buy health insurance. 
It adds funding for medical research, and it gives our men and women in 
uniform a $1 billion pay increase.
     My budget is also responsible. It pays down the national debt 
faster than any country has ever repaid its debt before. It establishes 
a contingency fund for unexpected needs, and it provides a reasonable 4-
percent increase in discretionary Government spending; that is, 4 
percent after we have paid every promised dime for Social Security and 
Medicare. Then, after meeting all these priorities, we return about $1 
out of every 4 in the surplus to the American taxpayer.
     Some in Washington do not think a 4-percent spending increase is 
enough. They want Government to take a much larger part of the surplus. 
But think about it. For the past few years, average hourly wages have 
risen at a rate of about 4 percent. If the taxpayer can get by on a 4-
percent raise, the tax collector ought to be able to make do with 4 
percent, as well.
     There's a lot at stake here. Last year Federal discretionary 
spending grew at a massive 8 percent. If this spending spree were to 
continue, we would drain the surplus by funding a permanently larger 
Government. This would be bad for the taxpayer and bad for

[[Page 513]]

the economy. It would make significant debt reduction and tax relief 
much more difficult.
     My budget plan doesn't slam the brake on spending; it slows the 
growth of spending. It makes our increases in spending more realistic 
and reasonable. All in all, my budget will provide the Government with 
100 billion more to spend in 2002. Even by Washington standards, this is 
a lot of additional money, and it is enough.
     This debate illustrates a point I've been making for a while: When 
money is left in Washington, there is a tremendous temptation for the 
Government to use it. The point is simple: If you send it, they will 
spend it. And this is why we need a balanced approach of moderate 
spending growth, debt reduction, and meaningful tax relief.
     This is the plan the Congress is now considering, and I hope you'll 
give it your support.
     Thank you for listening.

Note: The address was recorded at 3:22 p.m. on March 23 in the Cabinet 
Room at the White House for broadcast at 10:06 a.m. on March 24. The 
transcript was made available by the Office of the Press Secretary on 
March 23 but was embargoed for release until the broadcast.