He said recommendations of the bipartisan deficit and debt commission are "the minimum we need to do to put a floor under our economy."

 

"I'm willing to make significant cuts in domestic spending and entitlement reform," said Coons. "But we need the Republicans to meet us halfway, and be willing to make reductions in Pentagon spending, and tax reform that lowers rates, increases the base, and actually increases federal revenue. We've had a balanced, bipartisan proposal on the table since March in front of our budget committee. We simply need the Republicans to hear us say 'yes.'"

 

"It sounds to me like we have the basis for a deal here," Johnson said. "Senator Coons is talking about doing something over a long period of time. That's true. That's what a statutory cap bill would do. It would put us on a glide path towards balancing the budget.

 

"And then let's send a balanced budget to the states. Let's let the people decide if they want to instill the fiscal discipline on ourselves. Let's send it to the states. Let the people decide. I'm happy, I'm happy to let the American people decide this issue."