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YES OR NO -- YEARNING FOR A JOB.
WAR WILL IT TAKE --
WHAT WILL IT TAKE
TORE FOLKS TO WOBBEDER WHY
BUSINESSES ARE LEAVING THE
COUNTRY.
THEY WANT TO POINT THE FINGER TO
SOMEONE ELSE, SOME THIRD PARTY,
SOME EXTERNAL CAUSE.
MAYBE WE SHOULD THINK ABOUT THE
FACT THAT THE POLICIES ADOPTED
BY THE FEDERAL GOVERNMENT HAVE
AN IMPACT.
BUSINESSES REACT TO POLICIES
PASSED IN THIS CONGRESS IN THE
SENATE AND PARTICULARLY
REGULATIONS DRAFTED, PROMULGATED
BY THE ADMINISTRATION.
AT SOME POINT, WE HAVE TO SAY,
WAIT A MINUTE, BUSINESSES ARE
LEAVING, TAKING THEIR JOBS
ELSEWHERE.
MAYBE, JUST MAYBE THEY'RE DOING
OFF.
WE NEED TO ASK THAT QUESTION.
IN MY SECOND DISTRICT IN LITTLE
ROCK AND THE SURROUNDING AREA,
I HAVE TO SAY WE GOT BIG JOB
CREATORS AND SMALL JOB
CREATORS.
BUT THE COMMON DENOMINATOR IS
THEY'RE JOB CREATORS.
I DON'T ASK THAT PEOPLE LIKE
BUSINESS OR BE IN BUSINESS.
OR WHATEVER.
I JUST ASK THAT THEY
ACKNOWLEDGE THAT BUSINESSES
CREATE JOBS.
AND IF WE RUN BUSINESSES OFF,
IF WE ADOPT POLICIES THAT
CURTAIL ECONOMIC GROWTH AND
CHASE BUSINESSES AWAY TO OTHER
COUNTRIES WE'RE GOING TO LOSE
JOBS.
THAT'S NOT HARD TO FIGURE OUT.
AND I'D AGREE WITH
THE GENTLEMAN.
IT'S INTERESTING AS A GUY
THAT'S COME HERE IN CENTRAL AND
NORTHERN WISCONSIN, WISCONSIN'S
SEVENTH CONGRESSIONAL DISTRICT,
THIS IS A HOUSE THAT WILL
CONTINUALLY TALK ABOUT
POLITICAL SPIN AND POLITICAL
POSITIONING INSTEAD OF ACTUAL
POLICIES THAT ARE GOING TO WORK
FOR AMERICAN FAMILIES AND
AMERICAN BUSINESSES.
AND I THINK IT'S INTERESTING
THE PRESIDENT LIKES TO TALK
ABOUT CORPORATE LOOPHOLES.
AND, YOU KNOW, FOR ME I THINK
IT'S IMPORTANT THAT WE'RE
CLEAR.
THE TAX INCREASES THAT THE
PRESIDENT AND MY FRIENDS ACROSS
THE AISLE IN THE DEMOCRAT PARTY
ARE TALKING ABOUT, THESE ARE
TAX INCREASES ON THE SMALL JOB
CREATORS IN MY DISTRICT, THE
SAME ONES THAT WE ARE ASKING TO
EXPAND AND GROW AND CREATE JOBS
AND PUT OUR HARDWORKING
WORK.
IT'S THOSE PEOPLE THAT THEY'RE
ASKING TO RAISE TAXES ON AND I
THINK THAT'S ABSOLUTELY WRONG.
I ALWAYS HEAR MY FRIENDS ACROSS
THE AISLE TALK ABOUT THE 1990'S
AND HOW GREAT THINGS WERE IN
THE 1990'S.
THEY WERE GREAT.
THE 1990'S.
I HAVE TO NOTE THAT EVEN BILL
CLINTON HAS SAID, LISTEN, THIS
ISN'T 1990 ANYMORE.
HE'S LOOKED AROUND AND SAID,
LISTEN, LET'S MAKE OUR TOP
RATES MORE COMPETITIVE ON THIS
-- IN THIS GLOBAL MARKETPLACE.
IF WE MAKE IT MORE COMPETITIVE,
IN THE END WE ARE GOING TO BE
MORE COMPETITIVE.
I JUST THINK IT'S SO IMPORTANT
THAT WE FAKE A HARD LOOK AT THE
REGULATIONS AND THE TAXES THAT
COME FROM THIS TOWN BECAUSE IN
THE END IF WE ENGAGE, IF WE
HAVE POLICIES THAT ALLOW OUR
PEOPLE TO DO WHAT THEY DO BEST
WHICH IS INNOVATE AND GROW AND
EXPAND AND REAP THE BENEFITS OF
THEIR HARD WORK, I THINK WE'RE
GOING TO SEE AMERICA GROW AGAIN
AND CREATE JOBS.
IF WE STIFLE THAT I THINK WE'LL
HAVE A NEW AMERICA THAT I THINK
NONE OF US WOULD RECOGNIZE.
I THINK ULTIMATELY
THE STANDARD FOR ME IS, AM I
DOING THINGS THAT MAKE THE
UNITED STATES MORE ATTRACTIVE
TO JOB CREATORS OR LESS
ATTRACTIVE?
WE WANT TO BE A COUNTRY WHERE
JOB CREATORS AROUND THE WORLD
AND HERE SAY, AMERICA IS WHERE
I WANT TO DO BUSINESS, AMERICA
IS WHERE I WANT TO INNOVATE,
AMERICA IS WHERE I WANT TO
CREATE, AMERICA IS WHERE I WANT
TO PURSUE TECHNOLOGICAL
ADVANCEMENT AND CREATE JOBS,
AMERICA IS THE ONLY PLACE TO DO
BUSINESS, AMERICA IS THE ONLY
PLACE TO CREATE JOBS.
THAT'S THE AMERICA THAT I WANT
TO HELP CREATE.
I DON'T WANT TO CREATE AN
AMERICA THAT PUNISHES JOB
CREATORS IN SUCH A WAY THAT
THEY FLEE THE COUNTRY.
AND THAT'S EXACTLY ON MANY
FRONTS WHAT WE'RE DOING.
I YIELD TO THE GENTLEMAN.
GENTLEMAN FOR YIELDING.
WHEN I TALK TO MY JOB CREATORS
BACK IN WISCONSIN, NEVER DO
THEY SAY, WE'RE LEAVING BECAUSE
OF -- THE QUALITY OF WORKERS WE
HAVE IN THIS AREA.
THEY ACTUALLY SAY, WE HAVE THE
HARDEST WORKING, MOST
PRODUCTIVE, SMARTEST WORKERS
RIGHT HERE IN WISCONSIN, RIGHT
HERE IN AMERICA.
WORK FORCE.
WE LEAVE BECAUSE OF THE
TOWN.
TOWN.
I THINK IT'S IMPORTANT TO
CONTINUE TO LOOK AT THAT
BECAUSE IN THE END THIS DOESN'T
HURT BUSINESSES.
IT HURTS FAMILIES.
WE WANT TO MAKE SURE WE KEEP
OUR FAMILIES STRONG IN AMERICA
WITH PLENTY OF OPPORTUNITY.
IT MAKES ME THINK TO THE
CONVERSATION THAT HAPPENED
EARLIER ABOUT MEDICARE AND WE
HEARD A LOT TODAY WITH OUR
FRIENDS ACROSS THE AISLE
DEMAGOGUING THIS MEDICARE ISSUE
THAT THE REPUBLICAN PARTY WANTS
TO TAKE AWAY MEDICARE FROM OUR
SENIORS.
THAT'S ABSOLUTELY INCORRECT.
WE WANT TO SAVE MEDICARE.
WE WANT TO MAKE SURE WE
PRESERVE IT, WE SAVE IT, THAT
WE MAKE SURE THAT OUR SENIORS
THAT THEY GET EVERYTHING THAT
THEY BARGAINED FOR AND WE MAKE
SURE WE HAVE A MEDICARE PLAN
THAT'S IN PLACE FOR FUTURE
AND WHEN I HEAR MY FRIENDS
ACROSS THE AISLE TALK ABOUT
MEDICARE, I SCRATCH MY HEAD
BECAUSE THEY ARE THE ONLY ONES
THAT ARE GOING TO CUT IT.
IN THE HEALTH CARE REFORM BILL,
OBAMACARE, THEY TAKE $500
BILLION OUT OF MEDICARE.
AS I TALKED TO SENIORS AROUND
MY DISTRICT, ONE OF THE THINGS
THAT MAKE THEM SO ANGRY IS THAT
THEIR SOCIAL SECURITY TRUST
FUND HAS BEEN RAIDED FOR
DECADES.
AND NOW THE PRESIDENT AND THE
DEMOCRATS HAVE RAIDED THE
MEDICARE FUND AS WELL.
UNACCEPTABLE.
AND THEN YOU ADD ON TOP OF THAT
THE IPAB BOARD, THE INDEPENDENT
PAYMENT ADVISORY BOARD.
THIS IS A BOARD THAT IS GOING
TO LOOK AT MEDICARE
REIMBURSEMENT RATES AND WHAT
THEY'RE GOING TO DO IS LOWER
REIMBURSEMENTS ON CERTAIN
AND MEDICARE REIMBURSEMENTS ARE
ALREADY SO LOW, YOU REDUCE THEM
EVEN FURTHER, YOU'LL SEE
DOCTORS AND HOSPITALS STOPPING
PROVIDING THOSE SERVICES TO OUR
SENIORS.
SO IN THE END THIS IPAB BOARD
IS GOING TO IMPACT ACCESS TO
CARE FOR OUR CURRENT SENIORS.
THAT IS ABSOLUTELY
UNACCEPTABLE.
WE HAVE TO KEEP THE PROMISE TO
OUR CURRENT SENIORS BUT ALSO
MAKE SURE WE REFORM IT FOR
FUTURE GENERATIONS SO IT'S
SAVED.
I MEAN, THE PRESIDENT HAS COME
OUT AND SAID WE NEED TO REFORM
WELL, OK, MR. PRESIDENT.
LET'S REFORM IT BUT LET'S MAKE
SURE WE DO IT IN A WAY THAT
PRESERVES THE BENEFITS FOR OUR
CURRENT RETIREES AND THOSE WHO
ARE ABOUT TO RETIRE AND MAKE
SURE THOSE THAT MIGHT HAVE A
DIFFERENT PROGRAM HAVE THE PLAN
TO -- AROUND IT.
BUT TO DEMAGOGUE IT AND OUR
PARTY TRYING TO FIX THIS GREAT
PROGRAM I JUST HAVE -- I
STRUGGLE WITH THAT.
I THINK IT'S MISREPRESENTING
THE AMERICAN PEOPLE ABOUT WHERE
WE STAND.
I APPRECIATE THE
GENTLEMAN RAISING THE ISSUE OF
MEDICARE.
I'D LIKE TO TAKE A FEW MINUTES
TO TALK ABOUT SOME OF THE
THINGS I'VE HEARD HERE ON THE
FLOOR FONT TONIGHT.
FIRST OF ALL, WE SEE -- IF
YOU'RE JUST JOINING US I CAN
TELL YOU THERE WAS A POSTER
BEING USED AND THE POSTER
SHOWED A TOMBSTONE.
IT SHOWED A TOMBSTONE AND IT
SAID MEDICARE.
THE IMPLICATION WAS THAT
MEDICARE WAS GOING TO BE
KILLED.
MEDICARE WAS GOING TO BE
AND NOTHING COULD BE FURTHER
FROM THE TRUTH.
IF -- IF WE TAKE ACTION TO SAVE
MEDICARE.
IF WE ALLOW MEDICARE TO
CONTINUE AS IT CURRENTLY IS
WITH NO CHANGES IT GOES
BANKRUPT ANYWHERE FROM FIVE TO
10 YEARS.
IF WE DO NOTHING.
NOW, SOME OF US HAVE DONE
SOMETHING TO SAVE MEDICARE.
WHAT DID WE DO?
WELL, WE CAME UP WITH A PLAN
THAT'S PART OF OUR BUDGET IN
THE HOUSE TO SAVE MEDICARE FOR
FUTURE GENERATIONS.
NOW, WHAT OTHER PLANS ARE OUT
THERE?
RIGHT NOW NONE.
THE SENATE DOESN'T HAVE A
BUDGET.
THE SENATE DOESN'T HAVE A PLAN
TO SAVE MEDICARE.
THE PRESIDENT'S BUDGET DOUBLES
THE DEBT FIVE YEARS, TRIPLES IT
IN 10 YEARS, DOESN'T EVEN DEAL
WITH SBIMETS -- ENTITLEMENTS.
IT GOT ZERO VOTES IN THE U.S.
SENATE AND DOES NOTHING TO SAVE
MEDICARE.
IN FACT, IN FACT IT WAS SO --
IT WAS SO SILENT ON MEDICARE
AND ENTITLEMENTS THAT THE
PRESIDENT HAD TO COME AND GIVE
A MULLIGAN SPEECH AFTER WE
PROPOSED OUR BUDGET IN THE
HOUSE.
HE GAVE A SPEECH SAYING, WELL,
WHAT I REALLY MEANT WAS -- AND
HE LAID OUT SOME IDEAS.
NOT ENOUGH SPECIFICS.
SO FEW SPECIFICS, IN FACT THAT
THE CONGRESSIONAL BUDGET OFFICE
SPEECH.
WE CAN'T SCORE THAT SPEECH.
NOT ENOUGH SPECIFICS.
SO THE SENATE DOESN'T HAVE A
PLAN TO SAVE IT.
THE PRESIDENT DOESN'T HAVE A
PLAN TO SAVE MEDICARE.
WE HAVE A PLAN TO SAVE
MEDICARE.
SO WHAT HAS HAPPENED?
WHAT HAS HAPPENED IS THE OTHER
-- THE FOLKS ON THE OTHER SIDE
OF THE AISLE MADE A CONSCIOUS
DECISION TO ATTACK OUR PLAN TO
SAVE MEDICARE.
AND BY DOING SO THEY ENGAGED IN
A FISCAL FANTASY.
WHAT DOES THAT MEAN?
WELL, IT MEANS THAT THEY
COMPARE OUR REFORM WITH THE WAY
THINGS ARE NOW WITH MEDICARE.
THEY SAY YOU'RE ENDING MEDICARE
AS WE KNOW IT.
WELL, THE PROBLEM WITH THAT IS
MEDICARE AS WE KNOW IT ON THE
PATH THAT IT'S CURRENTLY ON
GOES BANKRUPT.
IT WOULD BE ONE THING IF THEY
WERE COMPARING THEIR REFORM
PLAN TO SAVE MEDICARE WITH
OTHER REFORM PLAN TO SAVE
MEDICARE.
BUT THEY'RE NOT BECAUSE THEY
DON'T HAVE A PLAN SO THEY
PREFER TO COMPARE OUR PLAN WITH
THE WAY THINGS ARE NOW EVEN
THOUGH THEY KNOW THE WAY THINGS
ARE NOW IS GOING AWAY.
IN FACT, I'D LIKE TO READ JUST
A COUPLE QUICK QUOTES HERE.
PRESIDENT OBAMA HAS SAID,
QUOTE, IF YOU LOOK AT THE
NUMBERS, MEDICARE IN PARTICULAR
WILL RUN OUT OF MONEY AND WE
WILL NOT BE ABLE TO SUSTAIN
THAT PROGRAM NO MATTER HOW MUCH
TAXES GO UP.
I MEAN, IT'S NOT AN OPTION FOR
US TO JUST SIT BY AND DO
NOTHING.
END QUOTE.
NOW, THAT'S PRESIDENT OBAMA.
ACKNOWLEDGING THAT MEDICARE IS
GOING BANKRUPT, ACKNOWLEDGING
THAT WE MUST DO SOMETHING TO
SAVE IT.
YET, HE HASN'T PROPOSED A PLAN
TO SAVE IT.
AND ANOTHER QUICK QUOTE.
SENATOR LIEBERMAN, FORMER VICE
PRESIDENTIAL CANDIDATE, NOMINEE
FOR THE DEMOCRATIC PARTY, NOW
AN INDEPENDENT, HE SAID, QUOTE,
THE TRUTH IS WE CANNOT SAVE
MEDICARE AS WE KNOW IT.
WE CAN SAVE MEDICARE ONLY IF WE
CHANGE IT.
THAT IS THE HARD REALITY AND
THAT IS WHAT WE ARE TRYING TO
DO IS SAVE MEDICARE.
AND WE -- THAT IS PRECISELY
WHAT WE DID IN OUR BUDGET THAT
WE ADOPTED THIS YEAR.
IF YOU'RE 55 OR OVER THERE'S NO
CHANGE.
IF YOU'RE UNDER 55 YOU WOULD BE
IN THE NEW PROGRAM AS MEDICARE
WOULD BE CONSTITUTED, WHAT WE
CALL PREMIUM SUPPORT.
IF YOU'RE 55 AND OVER, AS THE
GENTLEMAN SAID, THERE ARE NO
CHANGES TO YOU.
WE GIVE FOLKS TIME TO
TRANSITION TO A NEW WAY OF
LIVING UNDER MEDICARE, A
DIFFERENT KIND OF MEDICARE BUT
WHAT WE THINK WOULD BE MORE
EFFECTIVE AT REDUCING COST, BY
PUTTING IN SOME MARKET FORCES
AND SAVING MEDICARE FOR FUTURE
GENERATIONS.
I YIELD TO THE GENTLEMAN.
I APPRECIATE THE
GENTLEMAN YIELDING.
AND I AGREE WITH MOST
EVERYTHING YOU SAID HERE AND
VERY WELL SAID.
THE ONE POINT I DISAGREE WITH
IS THE PRESIDENT HAS A PLAN, NO
DOUBT, WITH THE HEALTH CARE
REFORM BILL, HE DOES DEAL WELL
MEDICARE.
AND MAKE NO MISTAKE.
THAT IS THE INDEPENDENT
PAYMENTED A RISERY BOARD, THE
IPAB BOARD THAT WILL
SYSTEMATICALLY REDUCE
REIMBURSEMENTS FOR OUR SENIORS.
I THINK HOW THE GENTLEMAN SAID
IT VERY WELL WHEN THE PRESIDENT
ACKNOWLEDGED THAT THESE
PROGRAMS CAN'T SUSTAIN
THEMSELVES ON THEIR CURRENT
COURSE AND SO HE'S ADDRESSED IT
AND MY FRIENDS ACROSS THE AISLE
VOTED FOR IT AND BASICALLY THIS
IS A FORM OF REDUCING
REIMBURSEMENT WHICH IS A FORM
OF REDUCING ACCESS TO CARE FOR
OUR CURRENT SENIORS TO REDUCE
THE OUTLAYS OF MEDICARE.
IT IS A DISINGENUOUS WAY TO SAY
WE ARE RATIONING CARE FOR OUR
SENIORS.
AND THAT IS UNACCEPTABLE.
HE HAS A PLAN.
UNFORTUNATELY, HE DOESN'T HAVE A
PLAN TO SAVE MEDICARE.
HE ONLY HAS THE PLAN THAT HE
PASSED IN HIS HEALTH CARE LAW.
AND AS YOU POINTED OUT WITH THE
CUTS THAT WERE IN THE
PRESIDENT'S HEALTH CARE LAW,
PRESIDENT OBAMA'S HEALTH CARE
LAW ENDED MEDICARE AS WE KNOW
IT, BECAUSE IT TOOK $500 BILLION
OUT AND INTRODUCED THIS
UNELECTED BOARD, THE IPAB THAT
YOU SO ELOQUENTLY DESCRIBED.
I WANT TO QUALIFY.
HE HAS A PLAN, HE
DOESN'T HAVE A PLAN TO SAVE
MEDICARE.
BUT ONLY ONE PLAN THAT SAVES
MEDICARE AND THAT IS OURS.
AND I SHOULD HAVE EXPLAINED THAT
BETTER.
I WOULD AGREE WITH YOU.
IT'S NOT JUST US AND THE
PRESIDENT SAYING THAT MEDICARE
IS GOING BROKE.
THE C.B.O., THE CONGRESSIONAL
BUDGET OFFICE, NONPARTISAN GROUP
HAS SAID IN NINE YEARS, THE
MEDICARE TRUST FUND IS GOING
BANKRUPT.
THE MEDICARE TRUSTEESVILLE COME
OUT AND SAID THE MEDICARE TRUST
FUND WILL BE BROKE.
MAKE NO MISTAKE, WE HAVE TO
ADDRESS IT AND ADDRESS MEDICARE.
LET'S NOT DEMAGOG THIS ISSUE AND
NOT THROW STONES WHO WANT TO FIX
IT BUT ENGAGE IN A DEBATE OR
TAKE RESPONSIBILITY OF CUTTING
$500 BILLION, TAKING MONEY OUT
OF A PROGRAM THAT PEOPLE PAID
INTO AND USING IT FOR A WHOLE
DIFFERENT SET OF PEOPLE WHO
DIDN'T PAY INTO THAT PROGRAM.
WE ARE ROBBING PETER TO PAY
PAUL.
LET'S SAVE MEDICARE.
LET'S NOT ROB MEDICARE.
I THINK WE COMBOT IN THIS
SITUATION AS AMERICANS BECAUSE
ALL THE TIME, OUR POLITICIANS,
THEY COME BACK TO THEIR STATES
AND DISTRICTS AND THEY MAKE
PROMISES TO THEIR PEOPLE.
THEY SAY, I'M GOING TO GIVE YOU
THE SUN, MOON AND THE STARS.
DON'T WORRY, WE CAN PAY FOR IT.
NOT A BIG DEAL.
I'M GOING TO KEEP THIS PROMISE
TO YOU AND THAT'S HOW THEY GET
PROMISES.
PT TIME HAS COME TO SAY, THESE
PROMISES CAN'T BE KEPT.
YOU KNOW WHAT?
I THINK THIS FRESHMAN CLASS OF
REPUBLICANS HAVE SAID WE AREN'T
GOING TO LIE TO YOU ANYMORE.
WE'RE GOING TO TELL YOU THE
TRUTH.
THE TRUTH IS WE CAN'T CONTINUE
ON THIS COURSE.
WE ARE GOING TO LEVEL WITH YOU
AND SAY WE HAVE TO REFORM IT AND
SAVE.
WE CAN'T CONTINUE TO BORROW AND
NOT HAVE SUBSTANTIAL ECONOMIC
CONSEQUENCES FOR THE NEXT
GENERATION, WE HAVE TO FIX IT.
YOU MAY NOT WANT TO HEAR IT, BUT
IT'S THE TRUTH.
WE AREN'T GOING TO LIE TO YOU
ANYMORE.
ONCE WE ALL KNOW WHERE WE'RE AT
AS A COUNTRY, WE CAN COME
TOGETHER AS A COUNTRY, HOW DO WE
FIX THE PROBLEM THAT WE FACE AS
A COUNTRY.
WHEN WE HAVE ONE PARTY THAT
DOESN'T WANT TO ACKNOWLEDGE THE
PROBLEMS THAT WE FACE AND WANT
TO MISLEAD THE AMERICAN PEOPLE
ABOUT THOSE PROBLEMS, IT'S HARD
TO HAVE AN HONEST CONVERSATION.
I DIDN'T COME HERE TO
PEOPLE.
I COME HERE TO LEVEL WITH THE
AMERICAN PEOPLE AND SAY THIS IS
WHERE WE ARE AT.
LET'S FIND SOLUTIONS THAT WORK
FOR THE AMERICAN PEOPLE.
THERE IS A CHART HERE THAT SO
MANY PEOPLE HAVE SEEN, MR.
SPEAKER, BUT IF YOU LOOK AT,
THIS IS A CHART THAT SHOWS AND
SHOWS OUR DEBT TO THE SIZE OF
OUR ECONOMY.
OUR DEBT IS 100% OF THE SIZE OF
OUR ECONOMY, BUT WE WERE AT WAR,
WORLD WAR II.
THAT WENT DOWN, LOOK TO OUR
FUTURE.
THIS IS A SEA OF RED, A SEA OF
DEBT THAT WE ARE GOING TO LEAVE
TO OUR NEXT GENERATION.
OUR ECONOMY WILL COLLAPSE WELL
BEFORE WE GET TO THE CREST OF
THAT WAVE.
BUT THAT IS OUR FUTURE, MAKE NO
MISTAKE, UNLESS WE CHANGE
LET'S CHANGE COURSE.
I THINK IT'S IMPORTANT TO NOTE,
WHERE DOES THIS DEBT COME FROM?
WHO IS FINANCING THIS DEBT,
BECAUSE IN WORLD WAR II,
AMERICAN CITIZENS BOUGHT WAR
BONDS PAYING FOR THIS DEBT.
NOT TODAY.
BECAUSE IN 1970, 5% OF THE
FOREIGN DEBT -- 5% OF OUR DEBT
WAS HELD BY FOREIGN ENTITIES AND
IN 1990, 19% OF OUR DEBT WAS
HLED BY FOREIGN ENTITIES AND
TODAY, 47% OF OUR DEBT IS HELD
BY FOREIGN ENTITIES.
AND I WOULD ASK THE SPEAKER TO
GUESS WHAT COUNTRY OWNS THE
LARGEST SHARE OF THAT FOREIGN
DEBT?
THAT'S RIGHT, CHINA.
CHINA OWNS 37% OF THAT FOREIGN
DEBT.
WE SHALL MORTGAGING OUR
CHILDREN'S FUTURE AND WE ARE IN
A NUCLEAR BOMB BECAUSE WE CAN'T
GET OUR PHYSICIAN CAT HOUSE IN
ORDER.
IT IS TIME THAT WE COME TOGETHER
AND FIX THE PROBLEM THAT FACE
THIS COUNTRY.
ROAD.
AND PREVENT IT, WE HAVE TO ACT
AND WE ARE HERE TO ACT.
I YIELD BACK.
I LOOK AT THOSE
CHARTS AND ASK MYSELF, HOW BIG
DOES OUR DEBT HAVE TO GET BEFORE
THE OTHER SIDE OF THE AISLE
JOINS US IN GETTING OUR FISCAL
HOUSE IN ORDER?
HOW BIG?
IT'S $14 TRILLION NOW.
$16 TRILLION?
$20 TRILLION?
$508 TRILLION?
HOW BIG DOES IT HAVE TO GET
BEFORE THE OTHER SIDE OF THE
AISLE ADMITS THAT WE'RE SPENDING
TOO MUCH MONEY?
I WILL TELL YOU, I HAVE BEEN
STUDYING SOME OF THE DETAILS OF
OUR BUDGET AND HOW WE GOT INTO
THIS MESS.
AND I WOULD BE REMISS IF I DID
NOT COMMENT ON SOMETHING THAT I
HEARD EARLIER TODAY.
SOMEONE SAID, WELL, THE BUSH TAX
CUTS CREATED OUR DEBT.
THAT'S HOW WE GOT INTO DEBT.
COMPLETELY UNTRUE.
I TOOK A CHART THAT SHOWED OUR
REVENUE YEAR BY YEAR AS A
PERCENTAGE OF THE ECONOMY.
AND AFTER 9/11, CERTAINLY THE
ECONOMY SLOWED DOWN AND OUR
REVENUES, OUR TAX RESETS
SIGNIFICANTLY.
I WILL TELL YOU BY 2007 OUR TAX
RECEIPTS WERE BACK UP TO 18.5%
OF G.D.P.
IN 2007, AND THAT WAS BEFORE THE
MELTDOWN OF THE HOUSING MARKET,
THAT WAS WHILE WE HAD THE BUSH
TAX CUTS IN PLACE.
18.5%.
NOW WHAT'S INTERESTING, IF YOU
GO BACK AND LOOK AT THE
MID-1990'S, THERE WERE SOME
YEARS THAT HAD HIGHER G.D.P. TO
REVENUE, BUT SEVERAL YEARS ARE
BELOW THAT.
MY POINT IS, WHATEVER
CONTRIBUTION TAX RATES HAVE HAD
ON REVENUE, THE PRIMARY DRIVER
OF HOW MUCH REVENUE WE GET IN A
PARTICULAR YEAR IS WHETHER WE
ARE HAVING ECONOMIC GROWTH.
THAT IS THE PRIMARY DRIVER.
THAT IS THE PRIMARY DETERMINING
FACTOR OF HOW MUCH MONEY COMES
INTO THE COFFERS OF THE UNITED
STATES GOVERNMENT.
THE IDEA THAT WE GOT IN THIS
MESS BECAUSE WE ARE SOMEHOW AS
AMERICANS NOT TAXED ENOUGH IS
LUDICROUS.
ALL YOU HAVE TO DO IS LOOK AT
THE SPENDING PATTERN AND THE TRA
JECT OTHER -- TRAJECTORY OF THE
DEBT YOU PUT UP THERE.
IT FOLLOWS THE SAME PATH.
REVENUE RELATIVELY STEADY OVER
THE DECADES AT AN AVERAGE OF 18%
OF G.D.P. AND EXPENDITURE
SPENDING OFF THE CHARTS,
YEARS.
HERE.
BOTH PARTIES ARE TO BLAME.
THE CONGRESS IS TO BLAME.
THE HOUSE IS TO BLAME, THE
SENATE, THE WHITE HOUSE.
THERE IS PLENTY OF BLAME TO GO
AROUND.
PLENTY OF BLAME TO GO AROUND.
THAT IS NOT THE ISSUE.
THE ISSUE IS HOW WE FIX IT AND
WE FIRST HAVE TO RECOGNIZE THAT
WE HAVE A SPENDING PROBLEM.
I YIELD.
WELL SAID TO THE
GENTLEMAN FROM ARKANSAS.
AND JOBS HAVE BEEN A KEY
COMPONENT OF THE DEBATES HERE IN
THIS HOUSE, BECAUSE THERE IS A
9.2% UNEMPLOYMENT RATE AND THE
EFFECTIVE RATE IS STILL HIGHER.
THOSE WHO HAVE STOPPED LOOKING
FOR WORK ARE UNEMPLOYED.
THOSE WHO ARE SUFFERING IN OUR
STATE AND OUR DISTRICTS.
AND WE HAVE SEEN WHAT PROPOSALS
HAVE COME OUT FROM THE OTHER
SIDE OF THE AISLE.
LET'S TAKE A WALK DOWN MEMORY
LANE.
THEY HAVE SAID THAT OBAMACARE
WAS GOING TO CREATE JOBS.
ALL IT DID WAS GIVE US A HEALTH
CARE REFORM BILL THAT ISN'T
GOING TO GET THE JOB DONE AND
GOING TO COST US AN EXTRA $1
TRILLION.
THEY GAVE US A STIMULUS BILL AND
WE WEREN'T SUPPOSED TO SEE
UNEMPLOYMENT ABOVE 8%.
AND FOR EVERY JOB THAT WAS
CREATED OR SAVED, IT COST THE
TAXPAYER OVER $250,000 PER JOB.
YOU KNOW WHAT?
THAT IS NOT A JOB-CREATING BILL.
THEY HAVE COME INTO THIS HOUSE
AND WANT TO TELL THE AMERICAN
PEOPLE THAT WE CAN CREATE JOBS
IN AMERICA IF WE RAISE TAXES ON
THE JOB CREATORS.
I'M TELLING YOU, YOU ASK ANY
ECONOMIST AND USE OUR COMMON
SENSE, TO RAISE TAXES, TO TAKE
MONEY AWAY FROM THEM, MONEY THEY
DON'T HAVE TO RE-INVEST, TO
RE-INNOVATE AND CREATE JOBS WHEN
THEY HAVE LESS MONEY DOESN'T
MAKE ANY ECONOMIC SENSE.
YOU RAISE TAXES ON YOUR JOB
CREATORS AND YOU HAVE LESS JOBS.
AND IF YOU HAVE LESS JOBS, YOU
HAVE LESS PEOPLE PAYING TAXES
AND LESS PEOPLE PAYING TAXES,
YOU HAVE LESS MONEY COMING IN TO
THE FEDERAL COFFERS.
WHEN AMERICA WORKS THEY GET OFF
THE UNEMPLOYMENT CHECKS AND
START GETTING PAYCHECKS.
I WANT TO SEE PEOPLE GETTING
PAYCHECKS.
THIS DEBT THAT WE FACE IN THIS
COUNTRY AND I KNOW IN MY OWN
DISTRICT THERE ARE PEOPLE WHO
NEED HELP.
I WANT TO MAKE SURE WE HAVE A
SAFETY NET IN PLACE TO HELP
THOSE PEOPLE.
I SEE THEM ALL THE TIME.
THEY NEED HELP.
AND I WANT TO MAKE SURE THAT WE
ARE THERE TO PROVIDE THE
ASSISTANCE THAT THEY NEED OR
THOSE WHO FALL ON HARD TIMES.
I WANT TO MAKE SURE WE HAVE A
SAFETY NET IN PLACE TO HELP
THEM.
IF WE CONTINUE TO BORROW AND
SPEND THIS WAY, THERE ISN'T
GOING TO BE MONEY FOR THOSE WHO
NEED THE MOST HELP.
LOOK TO GREECE.
IF YOU LOOK -- LOOK TO GREECE,
LOOK -- THEY TAKE TO THE STREETS
AND RIOT.
LET'S NOT LIE TO THE AMERICAN
PEOPLE AND TELL THEM THE TRUTH.
LET'S MAKE SURE WE HAVE A GREAT
AND PROSPEROUS COUNTRY THE SAME
THAT OUR FOREFATHERS PASSED OFF
TO US.
TO MEAN THAT, WE HAVE TO FIGHT
FOR IT BECAUSE THE STATUS QUO IS
THIS, MASSIVE DEBT AND WITH THAT
MASSIVE DEBT, YOU HAVE
GREECE-LIKE RIOTS.
LET'S FACE THIS CHALLENGE AND
LEAVE AMERICA THAT IS PROSPEROUS
AND BRIGHT AND FALL OF HOPE FOR
THE NEXT GENERATION.
I WANT TO CLOSE ON
THE DISCUSSION OF THE DEBT
CEILING AND WHAT I WOULD SAY TO
THE PRESIDENT TONIGHT IS THAT
THIS HOUSE HAS PUT FORTH A PLAN.
WE HAVE A PLAN IN THE FORM OF A
BUDGET, BUT WE ALSO HAVE A PLAN
IN THE FORM OF OUR CUT, CAP AND
BALANCE.
WHEN WE CUT SPENDING, CAP
SPENDING IN THE FUTURE AND WE
MOVE TOWARD A BALANCED BUDGET.
WE PASSED THAT HERE IN THE HOUSE
THAT'S A PLAN.
THAT'S A PLAN THAT WE CAN
DEBATE, WE CAN DISCUSS, THE
PRESIDENT CAN CRITICIZE.
BUT WHAT WE HAVEN'T SEEN FROM
THE PRESIDENT IS A PLAN, A PLAN
OF HIS THAT WE CAN LOOK AT AND
STUDY AND THAT THE AMERICAN
PEOPLE CAN CONSIDER.
I WOULD JUST ASK THE PRESIDENT
TO PUT HIS IDEAS OUT THERE, COME
OUT OF THOSE ROOMS AND PUT HIS
IDEAS IN PUBLIC AND LET US
ANALYZE THEM AND DISCUSS THEM
AND LET THE AMERICAN PEOPLE
EXAMINE FOR THEMSELVES.
COULD I MAKE ONE
COMMENT?
WE DON'T WANT TO DO A CABARET
DANCE HERE TONIGHT.
NO DOUBT, YOU LOOK AT THE
PROPOSAL THAT COUPLE OUT OF THE
HOUSE AND PASSED, IT WILL GO TO
THE PRESIDENT.
AND MOST AMERICANS KNOW WHEN YOU
BUY A HOUSE OR A CAR, YOU MAKE
AN OFFER, THE SELLER WILL MAKE A
VOURNT PROPOSAL.
WE WILL WAIT TO SEE IF HE PUTS
HIS IDEAS ON PAPER.
LET HIM SHOW THE AMERICAN PEOPLE
WHAT HIS IDEAS HERE JUST AS WE
HAVE SHOWN WHAT THE AMERICAN
PEOPLE AND I ENCOURAGE HIM TO DO
THAT AND I THANK THE GENTLEMAN
FOR HOSTING TONIGHT'S
CONVERSATION.
APPRECIATE IT.
DOES
THE GENTLEMAN HAVE A MOTION?
I MAKE A MOTION TO
ADJOURN.
THE
QUESTION IS ON THE MOTION TO
THOSE IN FAVOR SAY AYE.
THOSE OPPOSED, NO.
THE AYES HAVE IT.
THE MOTION IS ADOPTED.
ACCORDINGLY THE HOUSE STANDS