71.   And Hoenig cautioned against expecting too much from declining federal budget deficits and congressional action intended to balance the federal budget.

72.   And he said the government would intensify efforts to push through a package of tax increases and spending cuts intended to bring the budget deficit under control.

73.   And if a spending spree led to budget deficits, it could push up long-term interest rates, offsetting all or much of the positive impact of the spending.

74.   And few of them still adhere to the hard-line supply-side position that budget deficits do not matter.

75.   And it has done this while sharply reducing both the budget deficit and the size of the federal bureaucracy.

76.   And it is in Congress that the president hopes to win approval for austerity measures to prevent a worsening of the budget deficit.

77.   And he argued that the budget deficit is not the only red ink that the country must deal with.

78.   And it was Germany that demanded harsh penalties for countries that run high budget deficits.

79.   And he took serious responsibility for the howling budget deficits he inherited.

80.   And his entire Senate career has been a nonstop partisan brawl over budget deficits.