Congressional Budget for the United States Government for Fiscal Year 2010

Floor Speech

CONGRESSIONAL BUDGET FOR THE UNITED STATES GOVERNMENT FOR FISCAL YEAR 2010 -- (Senate - April 01, 2009)

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Mr. REED. Mr. President, I rise in support of this budget resolution. I particularly commend Senator Conrad for his extraordinary work.

Later, at the conclusion of my brief remarks, I will call up an amendment.

We have a situation that is unprecedented in the history of the country--extraordinary economic challenges, extraordinary international challenges. This budget resolution is designed to and will, I believe, help get our economy moving again and serve as a catalyst for job creation and for long-term growth. It will also put this Nation on a sustainable path in a fiscal dimension. The budget resolution reflects a commitment to transparency and restores honesty and integrity to the process. The budget incorporates the cost of the wars in Iraq and Afghanistan, which were notably neglected in past budgets. It enhances oversight of Government, including defense procurement spending, to root out waste, fraud, and abuse.

We are in very challenging circumstances, both domestically and internationally, and this budget reflects and faces up to those challenges.

Against these daunting challenges, the priorities reflected in the budget are clear: lower the tax burden on working men and women and small businesses, trim health care costs, invest in education, and reduce our dependency on foreign oil.

For too long, these challenges have undermined our economic vitality, and they will continue to drive down progress unless we take essential steps, as reflected in this budget, to deal with them. These are reasonable and necessary provisions. They represent a way to grow our economy and put more money in the pockets of middle-class Americans.

We are inheriting a weakened fiscal position based on the policies of the last 8 years, marked by an economic ideology that extended significant tax cuts to the very wealthiest, skewing these tax cuts so they benefitted a very few rather than ordinary Americans.

The Obama administration inherited an economic mess, a $1.3 trillion budget deficit and a near doubling of the public debt, rising from $3.3 trillion in 2001 to $5.8 trillion in 2008. This doubling of our debt occurred at a time of
macroeconomic prosperity and strong productivity growth. Yet, for middle-class Americans who have been working harder and more innovatively, there is little or no job creation. In fact, family incomes fell $2,000 between 2000 and 2007. Simply put, most families saw their income fall by $2,000 in a period of economic boom and prosperity, and we have to reverse that. We have to make an economy that will provide the jobs and the growth of income that Americans depend upon to educate their children, provide for their health care needs, and to contribute to their community.

This budget will provide that path of sustainable economic growth. It will do so by making investments to counter some of the downward spiral we have seen over the last several years.

It will invest in tax reform. This budget provides tax cuts for 95 percent of working Americans. It will close tax loopholes to ensure that we are all paying our fair share. It will eliminate some complicated, sophisticated tax shelters that benefit the wealthy but do not benefit working families.

In addition, it will focus on health care reform, which is necessary not only for our position as citizens but also for our economic future. Despite technological innovation, despite technological advances in medicine, far too many of these basic services are out of reach of Americans. They are simply not affordable or accessible. This budget will set the parameters for significant health care reform.

It will also begin to address the issue of global warming, which has huge implications internationally.

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Mr. REED. Mr. President, we are dealing with a plethora of issues that are absolutely critical to the economic success of the country. I mentioned climate effects. I mentioned investment in reducing our carbon footprint. All of these have been outlined and provided for in this budget resolution.

We are also going a long way to invest in the future of the country through education. I am pleased to see that this proposal includes a deficit-neutral reserve fund for higher education to allow for expanding student aid.

I have worked with Senator Collins on an amendment to ensure that this reserve fund may be used for increased investments in the Leveraging Educational Assistance Partnership or LEAP program which provides critical need-based grant aid and support services to low-income students.

This budget also provides for increased spending on Pell Grants, and as such, invests in our greatest resource, the talent and innovation and imagination of America. In that sense, I think this is a very strong step forward.

The budget helps deal with the issues facing small business in terms of providing, for example, $880 million for the Small Business Administration. It is small businesses, indeed, that create the jobs. Too often in the past, we have talked the talk but not walked the walk. This budget provides real resources for the Small Business Administration.

We have very difficult decisions to make, but we have made them before. I can recall being elected in 1990, beginning in 1991 with a huge deficit. Through the tough decisions we made here, a Democratic Congress following a Democratic Congress, we were able to not only turn the economy around but reduce the deficit. That is something we have to do going forward, and we must do that. I think this budget will position us to do that.

We have a difficult series of choices before us. I believe this budget and the work of Senator Conrad have positioned us to respond to the crisis of the moment and positioned us to take opportunities of the future.

AMENDMENT NO. 836

Mr. President, I ask unanimous consent to set aside the pending amendment and call up amendment No. 836, the Reed-Snowe LIHEAP amendment.

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Mr. REED. Mr. President, very briefly, this amendment would enhance and increase funding for the LIHEAP program. It is a program that is absolutely essential as we see energy prices begin to creep up again. When it hits again next winter, we will need these funds. When heating costs increase this summer in the Southwest and Southeast, we will need these funds.

I am proud to join Senator Snowe in supporting this amendment. I urge my colleagues to support it when it comes up for a vote.

Mr. President, I yield the floor.

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AMENDMENT NO. 836

The PRESIDING OFFICER. Under the previous order, there will now be 2 minutes of debate equally divided prior to a vote in relation to amendment No. 836, offered by the Senator from Rhode Island, Mr. Reed.

The Senator from Rhode Island.

Mr. REED. Mr. President, I am very pleased to offer this amendment with my colleague, Senator Snowe of Maine. It is a bipartisan amendment that would increase funding for LIHEAP from $3.2 billion to $5.1 billion. That $5.1 billion is the total we spent this year.

This is a program critical to seniors, critical to low-income people. With unemployment rates soaring in double digits, there are more and more people who will qualify. If we do not raise this ceiling, approximately 1.5 million households will lose help with their heating bills, not only in the wintertime but in the hot months in the areas of the Southwest and Southeast because they, too, benefit from LIHEAP.

Mr. President, I would be prepared to accept a voice vote, hopefully a very positive voice vote. If not, I would ask for the yeas and nays.

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