Speaking at the Domenici Public Policy Conference at New Mexico State University in Las Cruces, Former New Mexico Senator Pete Domenici said the federal deficit is the most important issue facing the country today, according to NMPolitics.net.
Saying the national debt must be faced like a war, Domenici insisted that the country must consider all options, including cuts to existing spending—and tax increases.
Domenici is a senior fellow at the Bipartisan Policy Center and co-chairs the group’s Debt Reduction Task Force along with Dr. Alice Rivlin, former Office of Management and Budget Director and the founding Director of the Congressional Budget Office.
The longest-serving U.S. Senator from New Mexico acknowledged that cutting entitlement programs would be unpopular. He said that a group of 10 Republicans and 10 Democrats agreed that “everything has to be on the table” to help eliminate the debt.
Domenici also acknowledged that the war in Iraq was a drain on the budget and said, “I wish we never got in it.”
Domenici voted for the Authorization for Use of Military Force Against Iraq in 2002. Sen. Jeff Bingaman, a Democrat who Domenici worked closely with while in the Senate, was one of 21 Senators to vote against the authorization for military force.