Cornyn: We Must Ensure Budget Funds Nation's Priorities, Is Fiscally Responsible

Cornyn: We Must Ensure Budget Funds Nation's Priorities, Is Fiscally Responsible

U.S. Sen. John Cornyn, a member of the Senate Budget Committee, made the following statement Monday regarding President Bush's annual budget proposal submitted to Congress for fiscal year (FY) 2008:

"The President's budget lays out a blueprint to fund the nation's top priorities and balance the federal budget by 2012, without raising taxes. Now, both parties must work together in Congress to ensure appropriate funding for America's most pressing needs, while holding the line on non-security spending and achieving the deficit-reduction goal the President has set.

"The most important role of the federal government is our national defense. It is critical that we provide our military with the necessary resources to fight and win the war on terror and keep Americans safe here at home. We must honor our commitment to the military community and provide the funding that is so critical to Texas military facilities.

"The protection of America's borders must also continue to be one of our top domestic priorities. We've taken some steps to secure the border in the past year, but we can and must do more. As we move forward with the budget process and seek to implement broader reforms of our immigration system during this Congress, I'll continue working to make sure our border security needs are met.

"It is also critical that Congress holds the line on spending where possible and be responsible stewards of the taxpayers' dollars. While the short-term budgetary outlook under the President's plan is positive, there is still a looming threat on the horizon when it comes to entitlement spending that must be addressed. With the impending retirement of the massive baby boom generation ahead of us, the cost of the big entitlement programs will soon skyrocket. Without Congressional action, Social Security, Medicare and Medicaid are poised to grow faster than the economy over the ten years and will increase from 8.8 percent of the economy this year to 18 percent in 2030.

"Finally, I'm encouraged that the President's budget does not raise taxes on the American people. It provides a foundation for future economic growth. This policy has proven effective over the past four years, with 41 straight months of job gains and historic unemployment lows. We should not pull the plug on the economy. As Congress begins work on crafting a budget for 2008, I look forward to working with my colleagues and the President to find solutions to these critical fiscal issues."

http://cornyn.senate.gov/index.asp?f=record&lid=1&yid=1&rid=237301&pg=1