2014 RI Senate debate: on Budget & Economy

Mark Zaccaria: Senate bank regulators are too cozy with regulated banks

During his campaign, Zaccaria said, he will also lay out Reed's "anti-economy and anti-business stands," and how much his support for the Affordable Care Act--known as ObamaCare--threaten to "cost the average Rhode Islander."

Jack Reed: Postpone sequestration; then balanced taxes & cuts

REED: These are serious challenges to the military. I don't think it has to happen; [there is] proposed legislation that would defer the sequestration to next year. It would be paid for in a balanced way by additional revenue as well as additional reduction in spending.

Q: Tax hikes?

REED: Indeed. And that, I think, is the way to proceed, avoiding the blunt across-the-board cuts and also giving us chance to get back into regular order, proposing a budget, doing an appropriations bill. The sequestration will preempt us from getting a budget done.

Q: It's always that you guys need more time and that--can we put it off until next year. Answer me this: if these cuts not just go into effect but are allowed to stay in effect, will the U.S. be less safe as a result of these across-the-board cuts?

REED: Even if you give flexibility, you still have significant reduction. It's not just defense. It's education, it's border security.