Quote

We can't reform mandatory spending in this area until we first deal with ours. I tell my colleagues, 'Let's get the moral high ground and demonstrate that we want to make changes to our pension, and then we can deal with the big problems.'

I'm not advocating spending less on the elderly, but I am strongly advocating spending more on kids while also putting the country on a sound, long-term fiscal trajectory. To do that, we have to reduce the rate of growth of entitlement-related expenditures and add more revenues.

We should reduce total government spending as a percentage of the economy.

Even with not having a balanced budget at this time, I support tax cuts. That will help limit spending.

I would not be opposed to devising a new system of pensions, in which one part was based on collective provision, but which also gave incentives for people to take out an additional, personal plan.

I hold it the duty of the executive to insist upon frugality in the expenditure, and a sparing economy is itself a great national source.

But I will say, I think there are some Democrats that don't want to address pension reform. I have taken on the issue of seniority and tenure. I think we have to address entitlements and the president has done that in his budget. I think we have to extend Medicare and the president has done that. But also reinvest in that program.

Government spending clearly needs some adjusting. But a budget is a statement of our priorities, and balancing our spending on the backs of our nation's seniors is not the right approach.

Manage your spending by creating and sticking to a budget.

A budget should reflect the values and priorities of our nation and its people.