Lowering taxes has fueled sustained economic growth and job growth that ultimately bring more tax dollars into the Treasury, which helps us reduce the deficit.  At the same time, we need to restrain spending, and we're working hard to do this through budget reforms such as my legislative line-item veto and overall efforts to control spending.

Today's announcement of lower deficit projections shows that tax relief paired with spending controls can put our fiscal house in order and eliminate the deficit.