Mr. Enzi mr. President last week the Senate Budget committee took an important first step in helping to change the way we do business here in washington by reporting out a balanced budget. This week, we take the next step as the Senate Begins debating how best to make the government live within its means and set spending limits for our nation. But were running out of time, and unless we do something soon, our nation will be overspending nearly a trillion dollars a year. Now, thats actually 1 trillion a year. A trillion makes it sound rather trivial. Its a thousand billion dollars a year of overspending. Now, Hardworking Taxpayers are paying attention. In fact, 24 states have already passed a constitutional balanced Budget Amendment and there are ten more that are working on it. If all of these states pass similar measures, well have 34 states needed for a Constitutional Convention on a balanced budget, and well be forced to act as they desire. In it if it isnt all of you they are saying it will be all of us. Well, we are elected to represent our constituents. In the face of such demands we should act or someday it will be out of our hands. One of the best ways to balance our budget is to make our government more efficient effective and accountable. If congress does its job we can have some flexibility and eliminate what isnt working starting with the worst first. Then we can eliminate waste and streamline whats left. But to do this First Congress must do something it hasnt done in the past eight years. Thats scrutinize every dollar for which they have responsibility. Actually, with the billions of dollars we spend every single year, they will be lucky to scrutinize every million dollars. If Government Programs are not delivering results they should be improved, and if they are not needed they should be eliminated. Its time to prioritize and demand results from our Government Programs. Through the process of getting the budget together, i discovered that we had 260 programs that havent been authorized. Whats an authorization . Well the committees are the people that are kind of experts or at least have a very concentrateed concern over that concentrated concern over that particular area, and they pass the new programs, the details of the new programs. The amount that can be spent on those programs, the way that we can measure whether they are getting things done. I discovered that 260 of those programs that we are still funding have expired. Their authorization ran out. One thing thats in those authorizations is some kind of a sunset date, and we passed the sunset date on 260 programs. So what . Were only overspending, according to the authorization 293 billion a year on expired programs. Yes, some of those programs are absolutely essential. What we need to do, though, is have those committees that have the expertise go back and review them and reauthorize them and set the new limits and the new may tricks for what they are new matrix for what theyre supposed to be doing so we can tell if theyre doing their job. 260 programs. Some of them the last time one of them expired in 1983. A whole bunch of them expired before this century. So we know this will be a challenge for every Single Member of congress, but i believe were up to the task because the American People are counting on us. This week, Hardworking Taxpayers will also get to see something they have not they have been waiting to see. Thats an open and transparent legislative process that will see members from both sides of the aisle offering, debating and ultimately voting on amendments to this resolution. Senate republicans will offer amendments that will enhance fiscal discipline, build a Strong National defense boost our Economic Growth, tackle obamacare, protect education and help make our government more efficient, effective and accountable to Hardworking Taxpayers. What this budget does do will we will also hear people say what this budget does do and does not do, but here is what this budget does do. It balances the budget in ten years with no tax hikes. It protects our most vulnerable citizens. It strengthens the National Defense. It improves Economic Growth and opportunity for hardworking families. It slows the rate of spending growth. It preserves Social Security by reducing spending in other areas to fully offset Social Securitys rising deficits and encourage our nations leaders to begin a bipartisan, bicameral discussion on how to protect and save Social Security and avoid the acrosstheboard Social Security benefits that could occur under current law. It protects our seniors by safeguarding medicare from insolvency and extending the life of the Medicare Trust fund by five years. It ensures medicaid savings medicare savings in the president S Health Care law are dedicated to medicare instead of seeing those changes go to other programs and more overspending. It continues funding for Childrens Health insurance program, chip, and it creates a new Program Based on chip to serve lowincome working age ablebodied adults and children who are eligible for medicaid. It increases state flexibility in designing benefits and administering Medicaid Programs to ensure efficiency and reduce wasteful spending and provide stable and predictable funding so Longterm Services and supports are sustainable, both for the federal government and for the states. So as we begin this debate this week its worth noting that strong Economic Growth will provide a balanced budget, and that can provide and will serve as a foundation for helping all americans to grow and prosper. A balanced budget allows americans to spend more time working hard to grow their businesses or advance their jobs instead of worrying about taxes and inefficient and ineffective regulations. Most importantly it means every american who wants to find a goodpaying job and a fulfilling career has the opportunity to do just that. There are problems, however with the family budget. Family income is not growing as it should, and this has dire consequences for our future. If Family Income does not grow, it becomes very difficult for parents to pay their childrens education and for their own training needs. Likewise slow Family Income growth means less money set aside for retirement, health care a down payment on a house and money to get the next generation started. Because job growth has been so slow since the beginning of the recovery its not surprising that Income Growth has been slow too. A lot of people failed to note that when jobs and income slow down together, the real victims are your hopes your dreams and your aspirations. Moreover these trends slow growth in jobs and the incomes are relatively related and recent. Hardly anyone listening to me today would be confused by the term Family Income. It clearly means the cash that families receive from their jobs and their investments. Its the stuff that goes into a savings account into a retirement plan, into education for the kids, into the household rainy day fund. You can count it and its tangible. Now, one of the other things that i discovered as i was going through this process is that we have some things that we all trust funds and ive discovered that you better not trust them. Theres no cash in the trust funds. Normally that would be investments that can be withdrawn and the bills paid. So i think if we really were doing a Financial Statement for the federal government, wed have to move those trust funds over to accounts payable because whats backing them is the full faith and credit of the federal government. And i hope that we can make it so that that is full faith and credit and thats why we need to change some of the things that were doing right now. Last year, we spent 231 billion on interest. Thats on an 18 trillion debt. Now, in the president s budget, thats proposed to go to 780 billion. Thats more than were spending on defense more than were spending on education more than were spending on almost any other function that the federal government does. Now, if 230 billion is 1 , what happens if we go to the normal rate of 5 . Oh goodness. We only get to make choices here on 1,100,000,000,000, so virtually all of the money we have would go to interest. No National Defense no education, no other function that the federal government is involved in. Our overspending is killing us. Yes, there are two ways that you can reduce overspending. One is to cut spending. The other one is to raise taxes. Were already collecting more money than we ever have in the history of the United States. So how are we going to solve this problem of the interest itself from bankrupting us . This budget is designed to put us on a path to do that. It will not solve everything. Weve only had about eight weeks to do what hasnt been done in a budget in six years. So i hope youll bear with us during the course of this process. I am an accountant. Im also the chair of the Senate Budget committee. And we have started the Monumental Task of confronting americas chronic overspending, tackling our nations surging debt and balancing our nations budget. Incidentally under the president s budget, the overspending is this year is 468 billion. Remember we get to make decisions on 1,100 billion dollars. If that constitution that im talking about that the puts are putting together, 24 into the ten makes it mandatory wed have to cut 50 . Were not able to do that. It was tough enough to balance the budget over a tenyear period. But thats a tremendous task we have ahead of us if were going to take care of balancing our nations debt and bringing it down to where its a manageable level. Where we can afford the interest on it. Before coming to congress i ran a Small Business in wyoming for many years. I served as the mayor of my hometown. Then i served as a ledge he legislator and in those roles one of the most important jobs i had wasser were to ensure my budgets were balanced every year. In time we were able to even build some rainy day accounts in wyoming. And so far theres never been a crisis so bad that its rained. Its time to begin this responsible accounting in washington because while you can lie about the numbers the numbers never lie. The worstkept secret in america is this administration is spending more than ever and taxing more than ever. The president s budget increases taxes dramatically and still doesnt get us to a balanced budget. In fact, that 468 billion in overspending this year in the tenth year he projects a trillion dollars which is a thousand billion overspent. It never goes down. It keeps going up. Weve got to reverse that trend. Otherwise, well, ive already explained that dilemma. The federal government should spend your tax dollars wisely and responsibly and give you the freedom and control to pursue your future the way you choose. Hardwork thats correct deserve a government that is more efficient and more accountable. That should be something both parties can agree on. I never heard anybody say they wanted an inefficient and ineffective government. Runaway spending be habits have created a dangerously growing debt because the habit of spending now and paying later is deeply engrained. Actually under the president s budget it isnt even paying later that is included in it. I mentioned weve overspent nearly a trillion dollars a year. Thats a thousand billion. And the more washington overspends the more debt we owe and the more added to what future generations will have to pay. Today americas debt totals 18 trillion. In fact, every man woman and child now owes more than 56,000 on that debt. The number is expected to grow to more than 75,000 over the next decade unless we make important changes. Yes, thats every man woman and child. That means somebody born this morning, they owe 56,000 on that debt. Every dollar spent on interest and our debt is another dollar we wont able to use for government services, for individuals in need or another dollar that wont be available to taxpayers for their own needs. Its time to stop talking and start acting. Washington has to live within its means just like the hardworking families do every day. We have to deliver a more effective and Accountable Government to the American People that supports them when it must and gets out of the way when it should. We didnt get here oversight we wont be able to fix it oversight overnight but we can solve this crisis if we act now. Republicans have put forward a responsible plan that balances the badge in ten years with no tax hikes. It strengthens our National Defense and improves Economic Growth and opportunity for hardworking families. The balanced budget means real accountability in washington and ensures that programs actually accomplish what they set out to deliver. Which goes back to my thing about 260 programs that have expired that were still funding to the tune of 293 billion. A balanced budget supports Economic Growth for hardworking families and creates real opportunity for all americans to grow and prosper. A balanced budget allows americans to spend more time working hard to grow their businesses or to advance their jobs instead of worrying about taxes and inefficient and ineffective regulations that drive their opportunity down. It means job creators can find opportunities to expand our economy and means every american who wants to have a goodpaying job an a fulfilling career has the opportunity to do that. Thats what a balanced budget means for our nation and its what the American People deserve. Congress is under new management and by working together to find shared ground on commonsense solution we can deliver real results and have real progress. Mr. President , i yield the floor and reserve the balance of my time. Mr. Sanders mr. President . The presiding officer the senator from vermont. Mr. Sanders thank you mr. President. Let me just begin by commenting on a few of the thoughts raised by my good friend, senator enzi. Senator enzi says that the Economy Today is not where it should be, and hes right. I dont think anybody thinks that the economy is where it should be in terms of low employment high wages. No debate about that. But i ask the American People to think back six and a half years ago at the end of president bushs term to what the economy was like. At that point we were not gaining the 200,000 jobs a month that were gaining now. We were losing 800,000 jobs a month. At that point the deficit was not at 480 billion where it is today, it was at 1. 4 trillion. At that point the stock market was not soaring as it is today. The american and worlds Financial System was on the verge of collapse. So lets begin by putting issues into perspective. Now, nobody i know thinks that we are where we should be economically in America Today but anybody who does not understand despite enormous republican obstructionism that we have made significant gains over the last six and a half years, would i believe be very mistaken. Mr. President , as we all know, the federal budget that we are working on now is not an appropriation bills. It does not provide explicit funding for this agency or that agency. What it does do is lay the foundation for that process. The total amount of money that the appropriations committees have to spend. In other words this budget is more than just a very long list of numbers. The federal budget is about our National Priorities and our values. It is about who we are as a nation and what we stand for. It is about how we analyze and assess the problems that we face and how we go forward in resolving those problems. That is the task that the senate now is about to undertake and it is a very, very serious responsibility. Mr. President , let us be very clear. No family, no business, no local or State Government can responsibly write a budget without first understanding the problems and the challenges that it faces. And than is even more true when we deal with a federal budget of some 4 trillion. And as i examine the budgets brought forth by the republicans in the house and here in the senate this is how i see their analysis of the problems facing our country. At a time of massive wealth and income inequality, perhaps the most important issue facing this country, a huge transfer of wealth from the middle class to the top. 1 my republican colleagues apparently believe that the richest people in america need to be made even richer. It is apparently not good enough for my republican colleagues that 99 of all new income today is going to the top 1 . Not good enough. It is apparently not good enough that the top. 1 today own almost as much wealth as the bottom 90 . Clearly, in the eyes of my republican colleagues, the wealthy and the powerful and the big Campaign Contributors indeed need even more help. Not only should they not be asked to pay more in taxes not only should we not eliminate huge loopholes that benefit the wealthy and large corporations, some of my republican friends believe that we should protect these loopholes not change them at all or