US Presidency
1990

It is the biggest deficit reduction agreement ever, half a trillion dollars. It's the toughest deficit reduction package ever, with new enforcement rules to make sure that what we fix now stays fixed. And it has the largest spending savings ever, more than $ 300 billion. For the first time, a Republican President and leaders of a Democratic Congress have agreed to real cuts that will be enforced by law, not promises, no smoke, no mirrors, no magic act, but real and lasting spending cuts. This agreement will also raise revenue. I am not, and I know you're not, a fan of tax increases. But if there have to be tax measures, they should allow the economy to grow, they should not turn us back to higher income tax rates, and they should be fair. Everyone who can should contribute something, and no one should have to contribute beyond their fair share. Our bipartisan agreement meets these tests. And through specific new incentives, it will help create more jobs.