McConnell on budget deal: “Substantial reductions in spending.” Statement

SHARE McConnell on budget deal: “Substantial reductions in spending.” Statement

McConnell Welcomes Historic Spending Reductions

‘We had an opportunity tonight to decide whether we wanted to repeat history, or make history. Had we chosen to repeat history, we would have allowed a government shutdown. Instead we decided to make history by implementing in the middle of this fiscal year as the Majority Leader has indicated substantial reductions in spending.’

Washington, D.C. – U.S. Senate Republican Leader Mitch McConnell made the following remarks on the Senate floor Friday regarding an agreement to avert a shutdown and achieve historic spending reductions:

“Let me thank my friend the Majority Leader and Speaker Boehner for their outstanding work during this difficult negotiation. You know, Mr. President, we had an opportunity tonight to decide whether we wanted to repeat history, or make history. Had we chosen to repeat history, we would have allowed a government shutdown. Instead we decided to make history by implementing in the middle of this fiscal year as the Majority Leader has indicated substantial reductions in spending.

Now, these reductions, Mr. President, are in the billions. Once we get through this process by the end of next week, we will move on to a much larger discussion about how we save trillions, by enacting hopefully on a bipartisan basis a budget that genuinely begins to get on top of this problem. And the problem as we all know is $14 trillion in debt, and over $53 trillion in unfunded liabilities. The President has asked us to raise the debt ceiling. And Senate Republicans and House Republicans and I hope many Democrats as well are going to say, Mr. President, in order to raise the debt ceiling, we need to do something significant about the debt. My definition of significant is that the markets view it as significant, the American people view it as significant and foreign countries view it as significant.

So for tonight, again, I congratulate the Majority Leader and the Speaker. This is an important first step, but just the beginning of what we need to do to get our house, our fiscal house, in order.

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