House Majority Leader Steny Hoyer talked about federal deficit reduction. In his remarks he said tax increases will eventually be necessary to address mounting debt and that middle class tax cuts set to expire later in the year would be too costly to remain permanent. He also said House Democrats sought a budget resolution that would limit discretionary spending and reinforce pay-as-you-go rules. Afterward, he responded to questions from members of the audience.

Following his remarks a panel talked about deficit reduction strategies.