Nebraska’s United States Senate candidates disagree, vehemently, on the best route to balance the federal budget.
Republican Deb Fischer is adamant; reduce the budget to 18% of Gross Domestic Product without raising taxes.
“I can tell you anytime a politician says, ‘Oh, we need to have taxes on the table, we need to have that as part of the discussion,’ you’re taxes will be raised,” Fischer says.
Fischer says there is no appetite among the public to raise taxes. She says that a growing economy would increase the federal taxes flowing to Washington, removing the need to increase taxes. And, the Republican argues that if taxes are raised, Congress will simply spend more.
Kerrey charges Fischer ignores history.
“The ’90 budget act, the ’93 budget act, the ’97 budget act had tax increases and we balanced the budget,” Kerrey says. “And she sited it in the debate.”
Kerrey insists Fischer’s recollection of those years is selective, ignoring the tax increases included in the deal. Kerrey, who was a United States Senator in the 90s, says the budget agreements reached between a Democratic administration and a Republican Congress included a combination of budget cuts and tax increases.
Current federal spending is approximately 25% of GDP.
AUDIO: Brent Martin reports [:40]