US Presidency
1984

So, we believe that as we continue to reduce the level of government spending, the increase, rate of increase in government spending, which has come down from 17 to 6 percent, and, at the same time, as the growth in the economy increases the revenues the Government gets, without raising taxes, those two lines will meet. And when they meet, that is a balanced budget. Mr. Wieghart. Mr. President, the Congressional Budget Office has some bad news. The lines aren't about to meet, according to their projections. They project that the budget deficit will continue to climb. In the year 1989 they project a budget deficit of $ 273 billion. In view of that, and in view of the economic recovery we are now enjoying, would it make sense to propose a tax increase or take some other fiscal measures to reduce that deficit now, when times are relatively good? The President. The deficit is the result of excessive government spending.