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Sen. Mark Warner on Balancing Budget: 'Neither Political Party Has Any Credibility on This Issue'

(CNS News) – When asked about President Joe Biden’s budget plan, which would rack up $14.5 trillion in cumulative deficits over the next 10 years, Sen. Mark Warner (D-Va.) said “neither political party has any credibility on this issue,” and added that both parties spent “spent enormous amounts of money after COVID.” ....

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Sen. Mark Warner on Balancing Budget: 'Neither Political Party Has Any Credibility on This Issue'

(CNS News) – When asked about President Joe Biden’s budget plan, which would rack up $14.5 trillion in cumulative deficits over the next 10 years, Sen. Mark Warner (D-Va.) said “neither political party has any credibility on this issue,” and added that both parties spent “spent enormous amounts of money after COVID.” ....

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Sen. Lummis Discusses National Debt, Sustainable Budgeting

Sen. Lummis Discusses National Debt, Sustainable Budgeting
Wyoming Senator Cynthia Lummis called the Wake Up Wyoming program with Glenn Woods on Tuesday to talk about a plan to curb the mounting national debt.
Lummis told Woods that what is needed is something along the lines of the Simpson-Bowles plan of 2010. That proposal would have capped spending at 21 percent of the National Gross Domestic Product, closed tax loopholes, reduced health care spending, and taken several other steps to balance the budget.
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The plan would have also reduced Social Security Benefits to higher-income people and eventually have raised the age to collect Social Security to 69. ....

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Mr. President: Fix the debt

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The astronomical debt load that President Biden inherited should hang as a specter above our national politics. It should mean that current taxing and spending decisions are made with full regard to the amount of money that we already owe lenders, rather than with regard to how we would like our government to tax and spend in an ideal world. Yet, in practice, our existing debt load means that the federal government will spend an increasingly large percentage of each year’s federal budget simply paying for previous years’ spending choices. Our large debt also makes us reliant on low interest rates that may not be sustainable and hamstrings our ability to respond to large scale crises down the road, such as another economic downturn, pandemic, natural disaster or war. ....

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Detailed text transcripts for TV channel - MSNBC - 20161116:17:31:00

We need to think more creatively about portable benefits, workforce training. i m not sure where these fall democrat, republican. if we don t address that anger and angst that was heard last week, then i think we re not doing our duty for america. what focus does that place on the tax cuts, for corporate america, for the wealthy, the president well, i believe under budget rules be able to pass with 51 votes? what it s going mean somebody who has spent much of my first term in the senate desperately trying to put together the bipartisan group, i was the gang of six that tried to work on the simpson-bowles plan that said let s do tax reform and deficit reform which included additional revenues. i m for getting a lower corporate tax rate, i m for bringing back that capital from abroad but doing it in a fiscally responsible way. we have 19 trillion in debt ....

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