VIDEO: Sen. Gillibrand Chats Balancing Budget on CBS THIS MORNING

Sen. Kirsten Gillibrand (D-NY) said the Senate Democrats will "present a very balanced budget" that will cut spending in "reasonable" ways, in an interview that was broadcast live today, March 13, 2013 on CBS THIS MORNING (7:00 AM-9:00 AM) on the CBS Television Network.

Gillibrand told co-host Gayle King and CBS News Senior Business and Economics Correspondent Anthony Mason, "I think that what Paul Ryan has offered is a cuts-only approach that will put us back into a recession." Watch the appearance in its entirety below!

Below are excerpts from the interview:

MASON: Senator, I understand the President told Democrats yesterday that you're going to have to embrace some changes to entitlement programs, if you want to get a deal. Are you ready to do that?

GILLIBRAND: The Democrats are going to present a very balanced budget, one that can certainly cut back spending, but in reasonable, appropriate ways, can also begin to strengthen our entitlements in a way that keeps them there not just for this generation, but for the next generation, and make sure it's balanced, so that there are some revenues. I think that what Paul Ryan has offered is a cuts-only approach that will put us back into a recession. I think it's an approach that will change Medicare as we know it. It's one that does not protect the seniors, does not protect The Middle class.

KING: Senator, we heard that the meeting ran long. I'm wondering if that's a good sign, and why has it taken you all so long to get your budget together, four years and counting?

GILLIBRAND: Well, we had a budget; it was the Budget Control Act. And that's unfortunately-some of the cuts we are looking at right now are ones we have to make. But this budget will be better because it will be a balanced budget. And it will have an appropriate amount of revenues to cuts, and to strengthening our social safety net.

Test and expand your Broadway knowledge with our new game - The Broadway Match-Up! How well do you know your Broadway casting trivia?	Play the Daily Game, explore current shows, and delve into past decades like the 2000s, 80s, and the Golden Age. Challenge your friends and see where you rank!
How well do you know your Tony Awards history? Take our never-ending quiz of nominations and winner history and challenge your friends.	Can you beat your friends? Play today’s daily Broadway word game, featuring a new theatrically inspired word or phrase every day!