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Fiscal Year 2013 Budget

(Mr. COSTA asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Rep. Jim Costa

legislator photo

Mr. Speaker, we all have our own ideas on how we should balance the budget, but missing in today's debate is a bipartisan approach to solve our Nation's fiscal problems. No one party has the answers. We can do this not through a Republican- nor a Democratic-proposed budget, unless we are willing to demonstrate bipartisanship.

That's why I'm opposing both the Republican and the Democratic proposals. These are not an answer to our Nation's fiscal problems. Instead, the Simpson-Bowles approach reflected in the Cooper-LaTourette substitute is the preferred approach that we need to follow.

Last night's votes and today's votes will once again demonstrate that the Congress is tone deaf. It's time to put our economy back on a path to fiscal sustainability and pass the Simpson-Bowles measure that last night fell far short. I suggest we cut $4 trillion from the deficit over 10 years with spending cuts and tax reform to ensure solvency of entitlements such as Medicare and Social Security. It's time that we act in a bipartisan fashion.