US Presidency
1990

And fourth, the Congress should, this month, enact a 5-year program to reduce the projected debt and deficits by $ 500 billion, that's by half a trillion dollars. And if, with the Congress, we can develop a satisfactory program by the end of the month, we can avoid the ax of sequester, deep across the-board cuts that would threaten our military capacity and risk substantial domestic disruption. I want to be able to tell the American people that we have truly solved the deficit problem. And for me to do that, a budget agreement must meet these tests: It must include the measures I've recommended to increase economic growth and reduce dependence on foreign oil. It must be fair. All should contribute, but the burden should not be excessive for any one group of programs or people. It must address the growth of government's hidden liabilities. It must reform the budget process and, further, it must be real.