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SHEILA JACKSON LEE.
WE'RE GLAD TO YIELD TO HER SUCH
TIME AS SHE MIGHT CONSUME.
I THANK THE
YEALT FROM THE *** ISLANDS.
LET ME THANK YOU FOR PERSISTING
IN DISCUSSING THESE ISSUES WITH
OUR COLLEAGUES.
YOU HAVE BEEN DETERMINED AND
YOUR LEADERSHIP HAS CAUSED US
TO HAVE THIS, I THINK VERY
OFTEN THAN NOT.
THOUGHTFUL DISCUSSION MORE
I'M ALSO PLEASED TO BE JOINED
BY MY FRIEND AND COLLEAGUE FROM
VIRGINIA WHO HAS DEVELOPED
TENURE ON THESE ISSUES DEALING
WITH THE BUDGET AND HAS ALWAYS
BEEN HELPFUL, MR. SCOTT, ON
REALLY SORT OF GETTING US
THROUGH THE WEEDS AND IN AN
HOUR OR TWO OR APPROXIMATELY AN
HOUR AND A HALF, MAYBE, THE
PRESIDENT WILL SPEAK TO THE
NATION.
AND I BELIEVE THAT THIS
PRESIDENT TRULY APPRECIATES
DEMOCRACY AND FRANKLY HAS NO
PROBLEM WITH COMING TO THE
AMERICAN PEOPLE IN A
STRAIGHTFORWARD AND HONEST
MANNER.
BUT IT REALLY IS IMPORTANT, I
THINK, TO EDUCATE OURSELVES, TO
EDUCATE OUR COLLEAGUES.
BECAUSE WITH ALL THE CHATTER,
IT SEEMS AS IF THEY'VE LOST
THEIR WAY.
SOON AFTER THE PRESIDENT SPEAKS
TONIGHT, I BELIEVE AROUND 9:00,
MR. BOEHNER WILL COME FORWARD.
BUT IF OUR REPUBLICAN FRIENDS
COME FORWARD ARE THEY COMEING
FORWARD TO EDUCATE THE AMERICAN
PEOPLE TO INFORM THEM THAT THE
DEBT CEILING HAS BEEN RAISED
100 TIMES BEFORE?
WILL THEY EDUCATE THE AMERICAN
PEOPLE THAT PROBABLY FOR THE
FIRST TIME IN 2011 THEY'VE PUT
DEBT CEILING IN YOUR
VOCABULARY, NOW IT'S GOING TO
BE HIGHLIGHTED IN WEBSTER'S
DICTIONARY.
MOST AMERICANS DID NOT KNOW
THAT TERMINOLOGY.
BUT I THINK THOSE OF US WHO
REMEMBER OUR HISTORY AND THOSE
WHO STUDY THE CONSTITUTION,
EVEN THOSE OF US WHO ARE
LAWYERS, REMEMBER THE
IMPORTANCE OF STUDYING THE
CONSTITUTION AND WILL ALWAYS
REMEMBER THE WORDS OF FULL
FAITH AND CREDIT OF THE UNITED
STATES.
EVEN IN DIFFICULT DAYS, THAT
KEEPS THE COUNTRY GOING.
WHY?
BECAUSE THE WORLD BUYS
AMERICA'S TREASURY NOTICE.
THEY BUY THEM WILLINGLY AND
OPENLY AND EXCITEDLY WHICH
MEANS OUR DOLLAR IS STRONG AND
THAT PEOPLE ARE HAPPILY HOLDING
ON TO THE TREASURY NOTE.
AGAIN, BECAUSE THEY BELIEVE
THAT AMERICA WILL NEVER DEFAULT
ON HER DEBT.
NOW IF YOU WANTED TO GET MORE
DETAILS, I'D REFER YOU TO THE
14TH AMENDMENT, SECTION 4.
THERE'S A LOT OF CHATTER ABOUT
WHAT IT MEANS BUT THE CLEAR
LANGUAGE SAYS THE PUBLIC DEBT
SHALL NOT BE QUESTIONED.
OF COURSE, IT LISTS WARS AND
OTHER ISSUES THAT OCCURRED IN
THE HISTORICAL PERSPECTIVE OF
THAT AMENDMENT BUT SCHOLARS
HAVE NOT FORMED OPPOSITION TO
THE THOUGHT, HARD CORE
OPPOSITION THAT IT ALSO LIVES
TODAY AND REALLY MEANS THAT WE
MUST RECOGNIZE THE PUBLIC DEBT
AND PAY OUR BILLS.
SO FULL FAITH AND CREDIT AND A
CONSTITUTIONAL PREMISE FOR
DOING WHAT WE SHOULD DO.
SO WHY DON'T WE JUST MOVE
FORWARD SO THAT ON AUGUST 2, OR
EVEN BEFORE THAT, WE WILL NOT
HAVE TO FACE OUR SENIORS,
LOOKING FOR THEIR SOCIAL
SECURITY CHECKS, OR MAYBE EVEN
HAVE IT A NURSING HOME AS I
HAVE DONE OVER THE LAST TWO
WEEKS AND BEFORE AND SEE
SENIORS THAT ARE ABLE TO PAY
THEIR WAY BUT OTHERS WHO ARE ON
MEDICAID.
SO I DON'T THINK THAT WE SHOULD
SUGGEST THAT THIS IS A DRAMA
AND A DRAMATIZATION TO SAY THAT
SOME SENIORS WILL BE PUT OUT ON
THE CURB BECAUSE THEY DEPEND
UPON MEDICAID, EVEN THOSE WHO
WORK, BUT HAD JOBS THAT DID NOT
ALLOW THEM TO HAVE A 401K OR
LONG-TERM CARE, THEY DEPEND
UPON MEDICAID.
AND AS WE LOOK AT THE PLAN THAT
WE WILL HEAR TONIGHT HAS BEEN
PUT ON THE WEBSITE BY SPEAKER
BOEHNER, THERE'S A GREAT DEAL
OF FEAR THAT SOCIAL SECURITY, A
REALISTIC FEAR, APPREHENSION
MIGHT BE THE WORD WE WANT TO
QUSE, THAT REALLY THE -- WE
WANT TO USE THAT REALLY THE
MEDICARE AND MEDICAID SOCIAL
SECURITY SAFETY NET ARE IN THE
EYE OF THE STORM.
AND SO WHEN YOU LOOK AT NO TAX
HIKES, WHICH WE HAVE HEARD A
NUMBER OF THEM RAISE THEIR
VOICES ON THAT, AND I THINK IT
SHOULD BE NOTED THAT THE OBAMA
ADMINISTRATION AND THIS
DEMOCRATIC LEADERSHIP IN THE
LAST CONGRESS GAVE TAX CUTS
OTHER AND OVER AGAIN AND
PARTICULARLY GAVE TAX CUTS TO
THE WORKING AND MIDDLE CLASS.
THE STIMULUS PACKAGE, THE
AMERICAN RECOVERY REINVESTMENT
ACT GAVE TAX CUTS.
BUT HOW DO YOU TRULY SAY TO THE
AMERICAN PEOPLE THAT WE'RE
TRYING TO DO WHAT YOU DO, WHICH
IS TO TIGHTEN YOUR BELT THAT
IS, LOOKING REALISTICALLY AT
THE RIGHT KINDS OF CUTS, AND
MOST ECONOMISTS WILL TELL YOU
THAT THE CUTS SHOULD BE
LONG-RANGE.
THEY TELL YOU IT MAKES NO SENSE
TO TALK ABOUT CUTS OVERNIGHT.
IN FACT IT'S UNREALISTIC IF A
FAMILY SITS AT THE KITCHEN
TABLE TRYING TO BALANCE THEIR
BOOKS, IT IS ALMOST IMPOSSIBLE
FOR THEM IN THE NEXT 24 HOURS
TO HAVE A TOTAL CHANGE.
THEY GOT TO OVER A MEASURED
PERIOD OF TIME, MAYBE SOMEONE
GETS ANOTHER JOB, MAYBE SOMEONE
FINDS AN INCREASED AMOUNT OF
WAGES AND THEN THEY OVER TIME
CUT THEIR BUDGET AND BEGIN TO
PAY BILLS.
AMERICA HAS TO PAY ITS BILLS
RIGHT NOW BUT OVER THE TIME
FRAME, WE NEED TO LOOK FOR WAYS
TO RAISE REVENUE.
SO LET ME JUST SHARE WITH YOU A
FRIEND OF OURS, COLLEAGUE,
CONGRESSMAN BISHOP, HAS SHARED
THIS VERY POTENT POSTER THAT IS
VERY EASY TO UNDERSTAND.
WE NEED TO ALLOW THOSE TAX CUTS
FOR A SMALL PERCENTAGE OF THE
AMERICAN PUBLIC AND THIS IS NOT
A CLASS WARFARE SITUATION.
I BELIEVE IT IS IMPORTANT FOR
PEOPLE TO ENJOY THEIR WEALTH,
CREATE WEALTH, TO CREATE JOBS.
BUT THIS IS WHAT WE CALL EQUAL
SACRIFICE.
ACCEPTING THE BURDEN OF BEING
AN AMERICAN.
RISING TO THE CAUSE WHEN YOU'RE
CALLED UPON TO SERVE.
NO ONE CAN COMPARE TO THE MEN
AND WOMEN RIGHT NOW AS WE STAND
HERE THAT ARE ON THE FRONT
LINES OF IRAQ AND AFGHANISTAN.
NO ONE CAN COMPARE TO FAMILY
WHORS WELCOME -- WHO WELCOME
KOCHES, FLAG-DRAPED COFFINS
HOME BECAUSE THEIR SOLDIERS
DIED ON THE BATTLEFIELD.
WE CAN'T COMPARE TO THAT.
PUT RIGHT NOW, AMERICA NEEDS
ALL OF US AND SHE NEEDS US TO
STAND UP AND BE COUNTED.
SO THERE ARE WEALTHY PERSONS
LIKE WARREN BUFFETT AND BILL
GATES WHO FOR A LONG PERIOD OF
TIME INDICATED THE TAX CUTS
NEED TO EXPIRE.
HERE'S THE REVENUE RIGHT HERE.
30,000 HOUSEHOLD THAT REPORT
INCOMES OF MORE THAN $1
MILLION.
ONE DAY OF THE BUSH TAX CUTS
FOR MILLIONAIRES EXPIRING GIVES
US $120 MILLION.
THAT MAY PROVIDE THE RESOURCES
FOR OUR NATIONAL PARKS AND
WILDLIFE, IT MAY AS WELL SHORE
UP HOSPITALS THAT REALLY DEPEND
UPON MEDICARE REIMBURSEMENT.
IT MIGHT HELP IN A MILITARY
FAMILY'S PAY INCREASE.
THEN OF COURSE IF YOU TAKE ONE
WEEK OF ALLOWING THOSE TAX
CUTSES TO EXPIRE HERE'S REVENUE
TO THE FEDERAL GOVERNMENT.
HERE YOU GET $857 MILLION.
THAT IS ONE WEEK.
JUST A REMINDER IN TERMS OF
MONEYS THAT WERE SPENT, WE
CREATED THREE MILLION JOBS AND
I'LL GET TO THAT, I THINK I'M
GOING TO HOLD THAT POINT BECAUSE
I WANT TO YOU SEE THE
DIFFERENCE, $857 MILLION COMES
IN FOR ONE WEEK.
THAT'S PELL GRANTS FOR OUR
STUDENTS, THAT'S ALLOWING
RESEARCH AT THE N.I.H. FOR
CANCER, CURES FOR CANCER AND AS
WELL FOR HEART DISEASE, STROKE,
NEUROLOGICAL DISEASE, PAYMENTS
FOR THOSE SUFFERING FROM MENTAL
HEALTH NEEDS AND THEN IF YOU
JUST GO ONE MONTH OF THE
EXPIRATION OF THE BUSH CUTS
YOU'LL HAVE $3.43 BILLION.
NOW, IN THE REINVESTMENT AND
RECOVERY, THE PRESIDENT, BECAUSE
OF THE CRISIS HE FACED WHICH WAS
NONE OF THE CLINTON SURPLUS WAS
LEFT, IT WAS ALL GONE BECAUSE OF
TWO UNPAID WARS, HE HAD TO COME
IN AND SAVE US AND SO ABOUT $800
BILLION IN THE RECOVERY ACT, PUT
THREE MILLION JOBS ON THE TABLE.
IT CREATED THREE MILLION JOBS.
JUST IMAGINE WHAT WOULD HAPPEN
IF THOSE TAX CUTS EXPIRED, WE
GOT $3.43 BILLION AND WE HAD THE
OPPORTUNITY TO CREATE, MULTIPLY
THAT, WHICH I THINK GOES IN
ABOUT SIX TIMES, MATH ON THE
FLOOR OF THE HOUSE, LITTLE LESS
THAN THAT, FOUR TIMES, IT WOULD
CREATE FOUR TIMES THREE MILLION.
12 MILLION JOBS.
REAL QUICK MATH HERE.
SO THE QUESTION IS, THE QUESTION
IS AND LET ME REVERSE THAT MATH
BECAUSE I SEE BOBBY SCOTT
LOOKING UP, IT'S ONLY THREE.
SO I WON'T DO ANY MATH ON THE
FLOOR OF THE HOUSE, WHAT I WILL
SAY IS THAT IT WILL CREATE JOBS
BECAUSE WE HAD $800 BILLION, I
WAS READING THAT *** $343
BILLION.
BUT -- THAT AS $343 BILLION.
IF WE DO ONE YEAR OF BUSH CUTS
IT WILL BE $41 BILLION.
AND SO WE CAN TAKE A PORTION OF
THE $800 BILLION AND WE CAN SEE
THE JOBS THAT WERE CREATED BY $3
BILLION AND $41 BILLION.
WHAT I WOULD SAY TO YOU, MY
FRIENDS, THAT THE ANNOUNCEMENT
THAT IS GOING TO BE MADE BY THE
SPEAKER DOESN'T GIVE US THAT
FLEXIBILITY.
IT TRULY UNDERMINES THE SAFETY
NETWORK OF MEDICARE, MEDICAID
AND SOCIAL SECURITY BUT IT ALSO
PUTS IN SOME ELEMENTS THAT
CLEARLY UNDERMINE THE RUNNING OF
THIS COUNTRY.
BALANCED BUDGET AMENDMENT IS NOT
REALISTIC FOR THE UNITED STATES
BECAUSE THE GOVERNMENT --
FEDERAL GOVERNMENT TAKES CARE OF
50 STATES, NOT JUST ONE.
AND OUR FRIENDS WILL TELL US
THAT THESE STATES HAVE BALANCED
BUDGETS, IT'S OK WHEN YOU'RE
TAKING CARE OF ONE HOUSEHOLD
BUT IF YOU'RE TAKING CARE OF 300
MILLION HOUSEHOLDS-PLUS, WHEN
THAT PARTICULAR STATE THAT NEEDS
THE FEDERAL GOVERNMENT LIKE
MISSOURI DURING THE HORRIBLE
TORNADOS OR ALABAMA OR THE
FLOODS OR ANY OTHER MANMADE OR
NATURAL DISASTER, THEY WANT US
TO BE ABLE TO HELP THEM.
BALANCED BUDGET AMENDMENT WILL
NOT ALLOW THAT.
AND THEN THE CAPS TO CONTROL
SPENDING, DOESN'T ALLOW THE
REASON DISCRETION TO BE ABLE TO
MAKE PRIORITIES WHEN PRIORITIES
ARE NECESSARY.
LAST POINT I WANT TO MAKE ABOUT
WHAT OUR SPEAKER WILL BE
ANNOUNCING TONIGHT TO CALM THE
MARKETS IS THAT THIS IS GOING TO
BE A -- LET ME JUST SAY THIS TO
MY COLLEAGUES.
IF YOU'RE HAVING FUN NOW JUST
THINK ABOUT FOUR MONTHS FROM NOW
OR A LITTLE LONGER, SIX MONTHS
WE'LL HAVE TO GO THROUGH THIS
AGAIN.
WE'LL HAVE TO GO THROUGH THIS
AGAIN.
ANOTHER DEBATE ABOUT THE DEBT
CEILING AND I'LL REMIND YOU, I
SAID WE RAISED IT 100 TIMES
BEFORE, MOST AMERICANS NEVER
HEARD OF IT, BECAUSE WE WORK
WITH OUR PRESIDENT, SUCH AS
PRESIDENT REAGAN WHO IN 1983
WROTE HIS OWN REPUBLICAN
MAJORITY LEADER, SENATOR BAKER,
AND SAID, YOU CANNOT NOT PASS
THE DEBT CEILING, IT IS
INCALCULABLE TO THINK OF AMERICA
DEFOUGHTLE -- DEFAULTING ON HER
BILLS.
SO HERE WE GO WITH A PROPOSAL
THAT RECALLS US TO HAVE TO VOTE
TWICE IN A SIX-MONTH PERIOD.
WHAT DOES THAT MEAN?
IT MEANS A YOUNG COUPLE TRYING
TO BUY A HOUSE SEES A SURGE IN
THEIR INTEREST RATES.
IT MEANS THAT IF YOU'VE GOT A
CREDIT CARD IT MAY BE DEFUNCT
ONLY BECAUSE YOU CANNOT AFFORD
TO PATE SURGING INTEREST RATES.
FEES FOR YOU TO BUY A HOUSE,
MIGHT SKY -- FOR TO YOU BUY A
HOUSE MIGHT SKYROCKET.
HOUSING COSTS MIGHT GO UP.
HOUSES MIGHT STOP BEING BUILT.
AND SO I WOULD SIMPLY ASK MY
COLLEAGUES TODAY, LET'S BE
AMERICANS.
LET'S LOOK AT WHAT WE CAN DO
TOGETHER.
JUST ALLOW THESE TAX CUTS TO
EXPIRE AND ALLOW US TO BE ABLE
TO CALCULATE THIS AMOUNT OF
MONEY AND AGAIN $3.43 BILLION
AND $41 BILLION MAKES THE
DIFFERENCE IN THE LIVES OF
AMERICANS SO I THANK THE
GENTLELADY FROM THE VIRGE
ISLANDS FOR ALLOWING ME TO SHARE
SOME THOUGHTS AND TO HOPEFULLY
JUST DISPEL SOME MYTHS BUT ALSO
SOME FEARS.
IT IS A $14.3 TRILLION, IT'S A
BIG NUMBER, BUT ECONOMISTS WILL
TELL YOU THAT AMERICA IS NOT
BROKE, IT'S NOT BROKEN EITHER,
IT IS AT STAGE WHEN WE NEED TO
COME TOGETHER TO RAISE THIS DEBT
CEILING AND GO BACK INTO REGULAR
ORDER AND WHETHER I AGREE OR
DISAGREE WITH WHAT THE
REPUBLICANS IN THE HOUSE BRING
FORWARD IN THE APPROPRIATIONS
PROCESS, WE CAN HASSLE THAT OUT
ON THE FLOOR OF THE HOUSE, BUT
WE WILL ALLOW AMERICA TO PAY HER
BILLS AND SOLDIERS NOW ON THE
BATTLEFIELD WILL NOT HAVE FEARS
THAT GRANDPARENTS ARE NOT
GETTING THEIR SOCIAL SECURITY OR
WORRYING ABOUT THEIR FAMILY
MEMBERS GETTING COMPENSATION
THAT THEY ARE TRULY DUE BECAUSE
OF THE SACRIFICES THEIR LOVED
ONES ARE MAKE ON BEHALF OF THIS
NATION.
I THANK THE GENTLELADY, I LOOK
DO BELIEVE THAT AMERICA'S GOING
FORWARD TO WORKING WITH US AND I
TO STAND UP AND BE COUNTED.
I YIELD BACK.
THANK YOU.
AND I THANK YOU FOR BRINGING THE
CHART SO THAT YOU CAN SEE VERY
CLEARLY HOW MUCH MONEY IS LOST
FROM JUST NOT TAKING THE TAX
CUTS BACK TO THE CLINTON TAX
RATES.
AND YOU CAN IMAGINE -- I'M NOT
DOING ANY MATH ON THE FLOOR
EITHER, BUT HOW MUCH MONEY WE
HAVE LOST IN THE TIME THAT THOSE
TAX CUTS HAVE BEEN IN PLACE AND
WILL CONTINUE TO LOSE THROUGH
NEXT YEAR.
AND THE REPUBLICAN PROPOSAL THAT
IS BEING BROUGHT TO US NOW, I
DON'T SEE ANY INVESTMENTS FOR
THE FUTURE.
NO INVESTMENT IN EDUCATION, NO
INVESTMENT IN RELIEVING
OURSELVES OF OUR DEPENDENCE ON
FOREIGN FUEL OR CONTINUING TO
INVEST IN HEALTH CARE OR
CREATING JOBS.
THERE'S NOTHING LIKE THAT, IT'S
JUST CUT, CUT, CUT AND THE
ECONOMISTS ALSO TELL US THAT
THIS IS NOT THE TIME TO BE
CUTTING SPENDING.
BUT WE HAVE OUR BUDGET GURU HERE
WITH US THIS EVENING, THE PERSON
WHO LEADS US EVERY YEAR IN
PUTTING TOGETHER A FANTASTIC
CONGRESSIONAL BLACK CAUCUS
BUDGET, ONE THAT NOT ONLY
INVESTS IN THE FUTURE AND IN ALL
OF THOSE THINGS I TALKED ABOUT
BUT ALSO HAS EVERY YEAR FOUND A
WAY THAT WHILE INVESTING TO ALSO
REDUCE THE DEFICIT AND SO I'M
PLEASED AT THIS TIME TO YIELD
SUCH TIME AS HE MIGHT CONSUME TO
CONGRESSMAN BOBBY SCOTT.
THANK YOU AND I THANK
THE GENTLELADY FOR YIELDING AND
I THANK OUR COLLEAGUE FROM TEXAS
FOR HER REMARKS.
WE'RE GOING TO TALK ABOUT HOW
BAD THE BUDGET SITUATION IS NOW,
I THINK IT MAKES A LITTLE SENSE
TO EXPLAIN HOW WE GOT HERE.
FIRST IN THE EARLY 1990'S THE
BUDGET HAD GONE TOTALLY OUT OF
WHACK.
AND THE FIRST PRESIDENT BUSH GOT
TOGETHER WITH THE DEMOCRATIC
LEADERSHIP OF THE HOUSE AND
SENATE OF THE UNFORTUNATELY HE
TO BREAK HIS PLEDGE -- SENATE.
UNFORTUNATELY HE TO BREAK HIS
PLEDGE ON, READ MY LIPS, NO NEW
TAXES, BUT THEY CAME TO AN
AGREEMENT AND DID A LITTLE BIT
TO FIX THE BUDGET.
THEN IN 1993, AFTER PRESIDENT
CLINTON CAME IN, WE DID SOME
SERIOUS WORK ABOUT THE BUDGET.
WE RAISED SOME TAXES AND CUT
SOME SPENDING AND GOT THE BUDGET
UNDER CONTROL IN THE 1993
BUDGET.
WHEN YOU VOTE ON BUDGETS, THEY
TALK BUDGETS.
PRESIDENT BUSH I THINK TO A
LARGE EXTENT CAN CREDIT HIS
DECISION TO ADDRESS THE BUDGET
WITH NEW TAXES AS PART OF THE
REASON FOR HIS DEFEAT AND WHEN
THE DEMOCRATS WITHOUT SING ALE
REPUBLICAN VOTE IN THE HOUSE --
SING -- WITHOUT A SINGLE
REPUBLICAN VOTE IN THE HOUSE AND
WITHOUT A SINGLE REPUBLICAN VOTE
IN THE SENATE PASSED THE 1993
BUDGET, 50 DEMOCRATS LOST THEIR
SEATS.
THOSE WERE TOUGH VOTES.
YOU LOSE YOUR SEATS WHEN YOU
HAVE VERY SERIOUS DEFICIT
REDUCTION.
BUT AS A RESULT THAT HAVE 1993
BUDGET WE NOT ONLY BALANCED THE
BUDGET AND JUST -- IN JUST A FEW
SHORT YEARS, BUT WE WENT INTO
SIGNIFICANT SURPLUS, CREATED
RECORD NUMBER OF JOBS, THE DOW
JONES INDUSTRIAL AVERAGE ALMOST
TRIPLED.
AND IN 1996 AFTER A FEW YEARS OF
THIS BUDGET -- EXCUSE ME, IN
1995 WHEN THE REPUBLICANS GOT IN
CONTROL BY DEMAGOGUING THE VOTES
THAT WE CAST, FIXING THE BUDGET,
THEY CAME IN AND TRIED TO
UNDERMINE EVERYTHING IN THE
ENTIRE BUDGET.
PRESIDENT CLINTON LET THE
GOVERNMENT GET SHUT DOWN RATHER
THAN SIGN THOSE IRRESPONSIBLE
BUDGETS THAT THE REPUBLICANS
PASSED.
LET THE GOVERNMENT GET SHUT DOWN
AND AS A RESULT OF HIS TENACITY
AND HOLING ONTO HIS ORIGINAL
PLAN THE BUDGET WAS BALANCED IN
A FEW SHORT YEARS.
NOW, THERE ARE SOME IN CONGRESS
THAT TALKED ABOUT THE HISTORIC
BALANCED BUDGET AGREEMENT IN THE
MID 1990'S.
WELL, THE BUDGET -- IF THEY
HADN'T COME TO SUCH AN
AGREEMENT, THE BALANCE WOULD
HAVE BUDGETED ITSELF.
WE DIDN'T KNOW WHETHER THE
BUDGET HAD ALREADY GONE INTO
SURPLUS.
THEY HADN'T FINISHED COUNTING
THE MONEY.
TURN US OUT THERE WAS FROM A
$290 BILLION DEFICIT WE GOT DOWN
TO $10 BILLION AND THE AGREEMENT
FLOWED DOWN THE PROGRESS A
LITTLE BIT BUT WE STILL WENT
INTO SURPLUS.
IN 2001 CHAIRMAN GREENSPAN WAS
ANSWERING QUESTIONS LIKE, WHAT'S
GOING TO HAPPEN WHEN WE PAY OFF
THE ENTIRE NATIONAL DEBT HELD BY
THE PUBLIC?
WHAT'S GOING GO TO HAPPEN TO
INTEREST RATES, WHAT'S GOING TO
HAPPEN TO THE BOND MARKET WHEN
THERE ARE NO GOVERNMENT BONLEDS,
HOW DO YOU CALCULATE INVESTMENT
STRATEGY WHEN YOU DON'T HAVE
GOVERNMENT BONDS SETTING THE
NO-RISK LIMIT, HOW DO YOU
CALCULATE INVESTMENT STRATEGIES
IF THERE ARE NO GOVERNMENT BONDS
BECAUSE YOU'VE PAID THEM OFF
OFF?
BY 2008 IT WOULD HAVE BEEN
PROJECTED THAT WE WOULD OWE NO
MONEY TO CHINA, JAPAN, SAUDI
ARABIA, WE WOULD HAVE PAID OFF
OUR ENTIRE NATIONAL DEBT.
SO IF PEOPLE THINK THIS IS HARD,
WE HAVE DONE IT.
2001, BY AUGUST OF 2001 AFTER
THE FIRST ROUND OF TAX CUTS WE
HAD ALREADY GONE BROKE.
INSTEAD OF THE HUGE SURPLUS, THE
SOCIAL SECURITY SURPLUS, THEY'RE
TALKING ABOUT THE LOCK BOX, PUT
THAT AWAY FOR SOCIAL SECURITY,
MEDICARE SURPLUS, PUT THAT IN
THE LOCK BOX FOR MEDICARE, WE
HAD A SURPLUS OVER THAT.
BY AUGUST OF PRESIDENT BUSH'S
FIRST YEAR WE HAD GONE THROUGH
ALL THE SURPLUS AND WE WERE INTO
SOCIAL SECURITY AND MEDICARE AND
BY AUGUST, YOU CANNOT BLAME
SEPTEMBER 11 FOR THE FACT THAT
WE HAD ALREADY GONE BROKE A
MONTH BEFORE.
AND SO AFTER TWO TAX CUTS NOT
PAID FOR, AFTER PRESCRIPTION
DRUG BENEFITS NOT PAID FOR,
COUPLE OF WARS NOT PAID FOR
WE'RE IN THE DITCH.
NOW, DURING THE CLINTON
ADMINISTRATION WE HAD PAY-GO.
YOU WANTED TO SPEND SOME MORE
MONEY, YOU HAD TO COME UP WITH
THE MONEY TO PAY FOR IT.
IF YOU WANTED TO CUT TAXES, YOU
HAD TO CUT SOME PROGRAMS, YOU
HAD TO PAY FOR IT.
EVERYTHING YOU DID YOU HAD TO
PAY FOR.
AS SOON AS PRESIDENT BUSH CAME
IN THEY GOT AWAY WITH -- DID
AWAY WITH PAY-GO AND PUT US IN
THE DITCH.
NOW WE'RE SO FAR IN THE DITCH
THAT MOST EXPERTS SUGGEST THAT
WE NEED ABOUT $4 TRILLION IN
DEFICIT REDUCTION TO GET BACK TO
A POINT WHERE WE'RE FISCALLY
RESPONSIBLE.
ABOUT $4 TRILLION.
THE SIMPSON-BOWLES COMMITTEE
CAME UP WITH ONE PLAN WITH A LOT
OF THIS AND A LITTLE OF THAT, $4
TRILLION.
BUT THERE'S ONE INTERESTING
THING THAT YOU COULD DO TO COME
UP WITH ALMOST $4 TRILLION, LET
ALL THE BUSH TAX CUTS EXPIRE.
DONE.
I MEAN, THAT'S ALL YOU HAVE TO
DO.
AS A MATTER OF FACT, IN THE
CONGRESSIONAL BLACK CAUCUS
BUDGET THIS YEAR, WE STARTED OFF
WITH THAT PREMISE.
LET THEM ALL EXPIRE.
BUT WE WANTED TO EXTEND SOME.
SO WE PAID FOR THEM.
WE CUT THE OIL LOOPHOLES AND
EXTENDED SOME, WE CUT SOME OTHER
LOOPHOLES AND EXTENDED SOME AND
ADDED THIS TAX AND CUT THIS AND
WE GOT TO THE POINT WHERE WE
COULD EXTEND A LOT OF THE TAX
CUTS BECAUSE WE PAID FOR THEM.
BUT WE STILL HAD THE $4 TRILLION
IN DEFICIT REDUCTION.
IF YOU WANT TO KNOW WHAT DEFICIT
REDUCTION LOOKS LIKE WITHOUT
REVENUE, YOU CAN LOOK AT THE
CONTINUING RESOLUTION EARLIER
THIS YEAR.
WHERE THEY STARTED OUT $66
BILLION, WHICH ANNUALIZED IS
ABOUT $100 BILLION AND 10 YEARS
THAT WOULD BE ABOUT $1 TRILLION.
AND IF YOU LOOK AT WHAT WAS IN
THAT FIRST $1 TRILLION THAT THEY
WANTED TO CUT IT WAS SO BAD THEY
COULDN'T GET IT PASSED, THEY
ENDED UP HAVING TO COMPROMISE,
BUT WE HAD CUTS TO THE SAFETY
NETS LIKE COMMUNITY HEALTH
CENTERS, CUTS IN ENERGY
EFFICIENCY FOR LOW INCOME
SENIORS, CUTS IN COMMUNITY
ACTION AGENCIES AND WE HAD CUTS
IN INVESTMENTS IN THE FUTURE,
HEAD START, PELL GRANTS GOT CUT,
SCIENTIFIC RESEARCH AND NASA ALL
GOT CUT.
. F.B.I. AGENTS GOT CUT.
WE ARE SITTING UP IN JUDICIARY
COMMITTEE DEALING WITH THE
PROBLEMS WE'VE GOT AND WE DON'T
NEED MORE CRIMINAL LAWS BUT
CASES.
F.B.I. AGENTS TO INVESTIGATE THE
F.B.I. AGENTS WERE CUT, 4,000
FEWER.
CLEAN WATER GRANTS,
CUT.
ENVIRONMENTAL PROTECTION, ALL
AIR TRAFFIC CONTROLLERS.
THEY ARE WORKING SO HARD THAT
THEY ARE FALLING ASLEEP ON THE
JOB, THEY WERE CUT.
AND THE NEXT ROURNED OF CUTS
WOULD BE MEDICARE -- AND THE
NEXT ROUND OF CUTS WOULD BE
MEDICARE AND MEDICAID.
THEY COULD NOT GET THAT PASSED.
AS A MATTER OF FACT, BY THE TIME
THEY FINISHED -- AND NOW THEY
ARE SUGGESTING WE NEED TO CUT
NOT $1 TRILLION, BRU $2 TRILLION
OR $3 TRILLION.
IF COULDN'T GET THE FIRST
TRILLION PASSED, CLEAN WATER,
FOOD INSPECTORS, SO FEW FOOD
INSPECTORS IN THAT BUDGET SOME
MEAT PACKING PLANTS WOULD HAVE
TO CLOSE BECAUSE THEY WERE
OBLIGATED TO HAVE A FEDERAL MEAT
INSPECTOR ON SITE.
THEY HAD SO FEW MEAT INSPECTOR
THAT THEY ANTICIPATED MANY OF
THE COMPANIES WOULD HAVE TO
CLOSE DOWN OR AT LEAST CLOSE
TEMPORARILY BECAUSE THERE WERE
SO FEW.
NOW THEY ARE TRYING TO FIGURE
OUT HOW TO DO $3 TRILLION OF
CUTS.
THEY CAME UP WITH THIS IDEA OF
THE DEBT CEILING.
THE DEBT CEILING IS SOMETHING
THAT RECOGNIZES THE FACT THAT WE
HAVE ALREADY SPENT THE MONEY.
AND SO YOU RAISE THE DEBT
CEILING NOT BECAUSE YOU ARE
SPENDING MONEY BUT BECAUSE YOU
HAVE ALREADY SPENT THE MONEY.
ALMOST ONCE A YEAR OVER THE LAST
50 YEARS, WE HAVE HAD TO
INCREASE THE DEBT CEILING.
DEMOCRATS AND REPUBLICANS HAVE
HAD TO VOTE FOR THE DEBT CEILING
AND THE MAJORITY PARTY HAS TO
CAST THE TOUGH VOTES AND THE
MINORITY PARTY GRANDSTANDS A
LITTLE BIT BUT NO QUESTION ABOUT
WHETHER THE DEBT CEILING IS
GOING TO BE INCREASED.
YOU CAN MAKE A SPEECH ABOUT IT.
THEY ARE SAYING MAYBE WE WON'T
INCREASE THE DEBT CEILING.
NOBODY KNOWS WHAT WOULD HAPPEN
IF WE DEFAULTED.
NOBODY KNOWS WHAT WOULD HAPPEN.
WHAT WOULD HAPPEN TO THE
INVESTMENTS, TO THE INTEREST
RATES.
WE HAD A TEMPORARY TECHNICAL
GLITCH A FEW YEARS AGO, CHECKS
GOING OUT A COUPLE DAYS LATE,
BECAUSE OF THAT GLITCH, WE PAID
HALF A PERCENT HIGHER INTEREST
RATE FOR MANY YEARS.
1% INTEREST RATE ON THE NATIONAL
DEBT NOW IS IN THE RANGE OF $100
BILLION.
SO IF YOU ARE LOOKING AT WHAT
WOULD HAPPEN IF YOU DEFAULTED ON
THE DEBT AND PEOPLE CHARGED MORE
INTEREST, THAT'S IN THE
MAGNITUDE THAT WE WOULD BE
TALKING ABOUT.
WE SHOULDN'T HAVE TO DISCUSS
WHAT WOULD HAPPEN IF, BECAUSE IT
COULD BE ANYTHING.
AND WHO WOULD WANT TO FIND OUT?
OUGHT TO GO AHEAD AND INCREASE
THE DEBT CEILING AND NOT USE IT
AS A THREAT THAT UNLESS YOU DO
THIS, WE'LL BLOW UP THE ECONOMY.
I WOULD HOPE OUR LEADERSHIP
WOULD NOT CAPITULATE TO THOSE
KINDS OF THREATS.
IN OCTOBER THEY COULD SHUT DOWN
THE GOVERNMENT BY NOT PASSING
THE APPROPRIATIONS BILLS.
IN A YEAR OR SO, YOU WOULD HAVE
TO DO THE DEBT CEILING AGAIN.
IF YOU CAPITULATE TO THESE
CHILDISH THREATS, THERE WILL BE
NO END TO IT AND YOU WILL INVITE
THEM BACK.
WHAT'S GOING ON NOW, THEY ARE
SLOW-WALKING US THROUGH SOME
CUTS THAT NEVER COULD HAVE BEEN
MADE IN THE NORMAL LEGISLATIVE
PROCESS.
LAST YEAR IN DECEMBER, WE
EXTENDED THE BUSH TAX CUTS.
THAT COST $400 BILLION A YEAR.
NOW WE'RE BROKE AND WE NEED TO
COME UP WITH ABOUT $400 BILLION
A YEAR, AS IF WE HAD FORGOTTEN
WHAT WE DID LAST DECEMBER.
NOW WHEN WE EXTENDED THOSE TAX
CUTS, THERE IS NO MENTION OF HOW
IT WOULD BE PAID FOR.
IT WOULD HAVE BEEN NICE TO KNOW
WHAT THE PLAN WAS, WHETHER WE
WERE GO TO GO CUT SOCIAL
SECURITY OR MEDICARE IN ORDER TO
AFFORD THE TAX CUTS THAT WERE
EXTENDED IN DECEMBER.
NOW THEY ARE GOING TO TRY TO GET
SOME CUTS THAT THEY COULDN'T
OTHERWISE GET.
AND THE LEGISLATIVE PROCESS IS
ABOUT CHOICES.
IF YOU WANT A PROGRAM, YOU WANT
TO PAY FOR IT.
NOT WILLING TO PAY THE TAXES,
CAN'T HAVE YOUR PROGRAM.
LAST YEAR, WE PASSED HEALTH CARE
PROGRAM.
COST $1 TRILLION.
WE RAISED MORE THAN $1 TRILLION
IN TAXES.
IF WE DIDN'T RAISE THE TAXES, WE
COULDN'T HAVE THE PROGRAM.
WE AREN'T MAKING AS WE GO LONG
NOW BECAUSE THE NEXT STEP IN
THIS PROCESS WILL BE NOT CUTS,
BUT CAPS.
NO PROGRAM WILL BE CUT WHEN WE
SEE ANY DEAL, $2 TRILLION DEAL,
CUT.
NOT A SINGLE PROGRAM WILL BE
THERE WILL BE JUST CAPS.
THREE MONTHS NOW WHEN YOU TRY TO
APPROPRIATE UNDER THOSE CAPS,
YOU CAN'T AFFORD ANY FOOD
INSPECTOR OR F.B.I. AGENTS
BECAUSE THE CAPS ARE SO LOW.
AND IF YOU PUT THEM ALL
TOGETHER, IF YOU HAD MADE YOUR
CHOICES AND HAD KNOWN YOU WERE
GOING TO CUT HEAD START AND
F.B.I. AGENTS AND CLEAN WATER
GRANTS, WHEN YOU CUT TAXES,
MAYBE YOU SHOULDN'T HAVE CUT THE
TAXES.
AND I'LL --
I THINK YOU
SAID PLAYING POLITICS, IS THAT
THE SAME AS THE SCHOOL YARD GAME
AS PLAYING CHICKEN AND IN THE
COURSE OF WHAT YOU JUST SAID, IS
THERE ANY LIGHT FOR CREATING
JOBS IN THIS APPROACH THAT IS
BEING TAKEN WHERE YOU HAVE NO
REVENUE AND YOU HAVE CUTS WITH
NO PLAN?
I SEE NO OPPORTUNITY FOR
CREATING JOBS?
MUCH HAS BEEN SAID
ABOUT THE REASON WHY YOU WOULD
NOT WANT TO INCREASE TAXES IN AN
ECONOMIC DOWNTURN, BECAUSE YOU
WOULD ADVERSELY AFFECT THE
ECONOMY.
THAT'S TRUE.
BUT IF YOU HAVE SPENDING CUTS,
THE EFFECT ON THE ECONOMY IS NOT
ONLY LARGER, BUT MORE DIRECT AND
MORE IMMEDIATE.
INCREASES IN TAXES DON'T HIT
UNTIL THE FOLLOWING YEAR.
AS SOON AS YOU CUT SPENDING,
SOMEBODY'S GETTING FIRED AND
JOBS GET LOST IMMEDIATELY WHEN
YOU HAVE SPENDING CUTS.
FOR THE SAME REASON THAT THEY
SAY YOU CAN'T INCREASE TAXES
DURING AN ECONOMIC DOWNTURN, A
STRONGER ARGUMENT COULD BE MADE
CUTS.
THAT YOU SHOULDN'T HAVE SPENDING
THE ESTIMATES ON SOME OF THE
REPUBLICAN PLANS ARE THAT
HUNDREDS OF THOUSANDS OF JOBS
WOULD BE LOST IF THOSE PLANS HAD
BEEN ENACTED.
ONE OF THE REAL TRAGEDIES ABOUT
THIS DISCUSSION IS SOMETIMES
TALKING ABOUT RHETORIC AND
POLITICS, SOME PEOPLE ARE
TALKING ABOUT THIS SO-CALLED
BALANCED BUDGET AMENDMENT AS A
CONDITION OF MOVING FORWARD.
WELL, ONE OF THE THINGS ABOUT
THE LEGISLATION THAT WE'LL
CONSIDER CALLS THE BALANCED
BUDGET AMENDMENT -- IS A BILL
THAT HAS A MISLEADING TITLE.
IT SAYS PROPOSING A BALANCED
BUDGET AMENDMENT TO THE
CONSTITUTION.
GUESS WHAT THAT LEGISLATION DOES
NOT REQUIRE?
WOULD YOU
YIELD?
DOES IT REQUIRE A BALANCED
BUDGET?
IT DOES NOT.
IT REQUIRES A 3/5'S VOTE TO PASS
A BUDGET THAT IS NOT IMBALANCE.
EVERY BUDGET WE CONSIDERED WAS
NOT IMBALANCE THIS YEAR.
THE RYAN PLAN WOULD HAVE
REQUIRED A 3/5'S VOTE.
THE REPUBLICAN STUDY COMMITTEE
PLAN WOULD CUT DISCRETIONARY
SPENDING 50% TO 70%, WOULD
REQUIRE A 3/5'S VOTE.
WHEN WE CAST THOSE VOTES, FIRST
PRESIDENT BUSH LOST.
DEMOCRATS LOST IN 1993 TRYING TO
BALANCE THE BUDGET.
I WILL GUARANTEE THERE WILL BE
REPUBLICANS LOSING THEIR SEATS
VOTING FOR THE RYAN PLAN BECAUSE
IT WILL BE A REPEAL OF MEDICARE
AND WILL LOSE THEIR SEATS.
THEY HAVE LOST ONE SEAT IN
UPSTATE NEW YORK.
WHEN YOU VOTE ON DEFICIT
REDUCTION, PEOPLE LOSE THEIR
SEATS.
IF YOU ARE A CHIEF SPONSOR OF A
SEVERE REDUCTION PLAN, IT WILL
BE HARDER TO PASS IF YOU MOVE IT
UP TO 3/5'S.
ONCE YOU NEED 3/5'S, THERE IS NO
LIMIT TO HOW IRRESPONSIBLE YOU
CAN GET.
THE TAX CUT EXTENSIONS, $400
BILLION IN DECEMBER, THAT GOT
3/5'S.
MORE TAX CUTS AND MORE
ADDITIONAL SPENDING TOTALLY OUT
OF CONTROL, ALL YOU NEED IS
3/5'S.
THE CAPS WOULD
BE IN PLACE.
THAT'S ANOTHER
PROVISION.
THE FULL PROVISION --
BUT YOU
COULDN'T RAISE ANY REVENUE.
FOUR PROVISIONS, 3/
5'S TO PASS THE BUDGET.
2 2/3 TO RAISE TAXES.
IF YOU ARE TRYING TO BALANCE THE
BUDGET, HAVING A 2/3 VOTE TO
RAISE TAXES WILL OBVIOUSLY MAKE
IT HARDER TO BALANCE THE BUDGET.
THIS IS CALLED A BALANCED BUDGET
AMENDMENT.
FIRST TWO PROVISIONS MAKE IT
HARDER TO BALANCE THE BUDGET.
2/3 TO PASS THE BUDGET -- IF
IT'S MORE THAN 18% OF G.D.P.
WE HAVEN'T BEEN THAT LOW SINCE
WE PASSED MEDICARE.
THAT WILL PUT PRESSURE ON THE
MEDICARE PROGRAM.
IF YOU PUT THESE THINGS TOGETHER
WITH THE PRESSURE ON MEDICARE,
WE KNOW WE CAN CUT THE BENEFITS
WITH A SIMPLE MAJORITY.
2/3 IN THE HOUSE AND 2/3 IN THE
SENATE.
THERE IS ANOTHER LITTLE
INSULTING PROVISION AT THE END,
3/5'S VOTE TO RAISE THE DEBT
CEILING.
AND THIS YEAR, IT HAS BEEN
ENOUGH OF A SPECTACLE AND WANT
IT TO BE AN EVERY DAY OCCURANCE.
YOU HAVE THIS BALANCED BUDGET
AMENDMENT THAT WOULD PUT
PRESSURE ON SOCIAL SECURITY AND
MEDICARE BY ALLOWING THOSE
MAJORITY.
PROGRAMS TO BE CUT WITH A SIMPLE
BUT TO SAVE THEM WITH NEW
REVENUE LIKE INCREASING THE
AMOUNT, RIGHT NOW IN SOCIAL
SECURITY, A LITTLE OVER
$100,000, NO MORE SOCIAL
SECURITY TAX, IF WE EXTEND THAT
LIKE MEDICARE, ALL OF YOUR
INCOME, WE CAN PRETTY MUCH SOLVE
THE PROBLEM, YOU COULDN'T DO
THAT WITH A 2/3 VOTE.
YOU COULDN'T SAVE SOCIAL
SECURITY.
BUT TO CUT THE BENEFITS, SIMPLE
MAJORITY.
AND THEY WANT TO INFLICT THE
BALANCED BUDGET AMENDMENT IN
THERE TO PRESERVE THEIR OIL
COMPANY-MILLIONAIRE LOOPHOLES
AND JEOPARDIZE US AND PUT IN A
TRAGEDY.
MOST PEOPLE WHEN THEY HEAR THE
TITLE, THEY START TO DEBATE
WHETHER IT IS A GOOD IDEA OR BAD
IDEA TO BALANCE THE BUDGET EVERY
YEAR.
NOW, INTERESTINGLY ENOUGH, THE
GENTLELADY FROM TEXAS SERVE ON
THE JUDICIARY COMMITTEE AND WE
HEARD THE -- ONE OF THE
REPRESENTATIVES FROM ARIZONA
TALK ABOUT THE ARIZONA BALANCED
BUDGET AMENDMENT AND HOW THAT
WORKS ON THE STATE LEVEL.
AND THEN WE DID A LITTLE
RESEARCH TO FIND OUT HOW DID
ARIZONA BALANCE THE BUDGET.
THEY HAVE BILLIONS OF DOLLARS OF
STIMULUS MONEY TO BALANCE THE
BUDGET BUT THAT WASN'T ENOUGH.
ARIZONA STATE GOVERNMENT HAS
SOLD, SOLD THEIR STATE CAPITOL
AND SOLD THEIR SUPREME COURT
BUILDING AND LEASED IT BACK AND
GOT HUNDREDS OF MILLIONS OF
DOLLARS IN THE KITTY THAT HELPED
THEM.
BY SELLING THE STATE CAPITOL AND
THE SUPREME COURT.
THAT'S WHAT THE BALANCED BUDGET
AMENDMENT DOES FOR YOU, I GUESS.
WE CAN'T GET LOST IN THE
RHETORIC ABOUT THE MISLEADING
TITLES OF LEGISLATION AND
ACTUALLY READ PAST THE TITLE IN
THE BALANCED BUDGET AMENDMENT.
I YIELD BACK.
THAT HAPPENS
SO OFTEN WITH SO MANY OF THESE
BILLS.
THANK YOU FOR TAKING US THROUGH
THE HISTORY OF WHERE WER BECAUSE
THERE'S A LOT OF RHETORIC THAT
TRIES TO HIDE HOW WE GOT HERE,
THE FACT THAT HARD VOTES WERE
TAKEN IN 1993.
PRESIDENT CLINTON DID LEAVE A
LARGE SURPLUS AND BY THE END OF
PRESIDENT BUSH'S TERM, WE WERE
IN A DEEP DEFICIT AND THEN IN A
RECESSION, A RECESSION THAT WAS
NOT CREATED BY THIS PRESIDENT,
BUT INHERENTED BY THIS
PRESIDENT.
WHEN THEY TALK ABOUT YES,
PRESIDENT OBAMA HAS INCREASED
THE DEFICIT, WHAT WOULD HE DO,
ALLOW US TO FALL DEEPER INTO A
.
RECESSION?
WHAT WOULD THE
REPUBLICANS HAVE DONE TO
DECREASE THE DEFICIT?
ARE THEY TALKING ABOUT
INCREASING THE TAXES?
THEY HAVE
NEVER --
AND LEGISLATION IS
ABOUT CHOICES.
I MEAN, YOU KNOW, IF YOU WANT A
HEAD START PROGRAM, YOU HAVE TO
PAY FOR IT.
IF YOU WANT CLEAN WATER GRANTS
YOU HAVE TO PAY FOR IT.
AND WE NEED TO BE MAKING THESE
CHOICES NOT IN THE CONTEXT OF
THREATS ABOUT BLOWING UP THE
ECONOMY, BUT MAKE THE RATIONAL
CHOICES ABOUT WHAT KIND OF
VISION AND WHAT KIND OF FUTURE
WE THINK WE WANT.
SOME OF US THINK THAT EDUCATION
IS IMPORTANT, YOU HAVE TO PAY
TAXES TO GET A GOOD EDUCATION.
SOME PEOPLE THINK THAT CLEAN
WATER GRANTS ARE IMPORTANT, SOME
PEOPLE THINK THAT SCIENTIFIC
RESEARCH, FOOD INSPECTORS,
F.B.I. AGENTS, AIR TRAFFIC
CONTROLLERS, A LOT OF THINGS WE
FOR THEM.
LIKE IN GOVERNMENT, YOU HAVE PAY
-- YOU HAVE TO PAY FOR THEM.
THANK YOU FOR
JOINING US.
I'M GOING TO YIELD --
IF YOU'LL YIELD
ONE QUICK MOMENT TO ADD TO WHAT
HE SAID.
WE'RE ALSO IN A CLIMATE OF
FIGHTING AGAINST TERRORISM.
AND IN ORDER TO SECURE THE
HOMELAND YOU HAVE TO MAKE
CHOICES ABOUT HOW YOU INVEST AND
SO I HAVE A DIFFERENT OPINION, I
THINK IF YOU INVEST MONEY, YOU
GET INNOVATION, YOU GET JOBS AND
NONE OF WHAT HAS BEEN SAID BY
SPEAKER BOEHNER HAS ANYTHING
ABOUT INNOVATION, JOBS AND HAS
NO SEEMINGLY UNDERSTANDING OF
THE IMPORTANCE OF SECURING THE
HOMELAND.
I YIELD BACK TO THE GENTLELADY.
THANK YOU FOR
ADDING THAT AGAIN.
AT THIS TIME I'D LIKE TO YIELD
TO THE FORMER CHAIR OF THE
CONGRESSIONAL BLACK CAUCUS,
CONGRESSWOMAN BARBARA LEE FROM
OAKLAND.
ALSO CHAIR OF THE OUT OF POVERTY
CAUCUS.
A LOT OF TIMES, WELL, EVEN UP TO
THIS WEEKEND WE'VE HEARD THAT
NOBODY'S TALKING ABOUT THE POOR.
BUT I THANK YOU FOR LIDE
LEADINGING -- FOR LEADING, FOR
STARTING THE OUT OF POVERTY
CAUCUS, FOR LEADING US TO AN
AGENDA THAT CONTINUES EVEN TODAY
OF PATHWAYS OUT OF POVERTY AND
FOR BRINGING US TO THE FLOOR
EVERY DAY FOR THE LAST COUPLE OF
WEEKS TO TALK ABOUT HOW THE
REPUBLICAN POLICIES, THE BILLS
THAT THEY'RE PROPOSING, THE WAY
THEY'RE HOLDING THE DEBT CEILING
HOSTAGE IS HURTING THE POOR IN
OUR COUNTRY.
I'D LIKE TO YIELD SUCH TIME AS
YOU MIGHT CONSUME.
THANK YOU VERY MUCH.
LET ME THANK CONGRESSWOMAN
CHRISTENSEN FOR LEADING THIS
SPECIAL ORDER TONIGHT.
BUT ALSO THANK YOU FOR YOUR
LEADERSHIP ON BEHALF OF REALLY
MY CONSTITUENTS AND ON BEHALF OF
THE ENTIRE COUNTRY BECAUSE IT'S
SO IMPORTANT THAT YOURSELF AS
FIRST VICE CHAIR OF THE
CONGRESSIONAL BLACK CAUCUS AND
CHAIRMAN CLEVE WHO ARE CHAIRS
THE CONGRESSIONAL BLACK CAUCUS
CONTINUES TO BE THE CONSCIENCE
OF THE CONGRESS AND TO SPEAK OUT
AND SOUND THE ALARM ABOUT THE
CONSEQUENCES OF POSSIBLE BAD
POLITICAL AND POLICY DECISIONS.
SO THANK YOU VERY MUCH FOR WHAT
YOU ARE DOING.
IT'S SO IMPORTANT THAT THESE
ISSUES BE SWEPT FROM UNDER THE
RUG.
AND DISCUSSED IN AN OPEN FORUM.
AND THE DEBATE AND THE
DISCUSSION WITH CONGRESSMAN
BOBBY SCOTT AND CONGRESSWOMAN
SHEILA JACKSON LEE WAS VERY
IMPORTANT TO HAVE BECAUSE I
THINK THAT THE PUBLIC WHO ARE
LISTENING TO THIS DISCUSSION
WILL UNDERSTAND THE HISTORY AND
THE BACKGROUND AND THE TECHNICAL
ASPECTS ABOUT THIS BUDGET THAT
REALLY -- AND THIS DEFICIT
REDUCTION PLAN THAT THE
SPEAKER'S BRINGING FORWARD WHICH
REALLY DOES ONCE AGAIN PUT THE
AMERICAN PEOPLE AS PAWNS I THINK
IN A GAME THAT THEY WERE NOT
RESPONSIBLE FOR PLAYING.
PEOPLE CANNOT WAIT ANY LONGER,
THEY'RE TIRED OF HAVING THEIR
FUTURES THREAT UNDERSTAND BY
REPUBLICAN POLITICIANS PLAYING
GAMES THAT PUT THE ENTIRE NATION
AND OUR ECONOMY AT RISK.
AND THE RYAN BUDGET AND NOW THIS
DEBT CEILING PLAN PUT FORTH BY
THE REPUBLICANS, I TELL YOU WHAT
COMES TO MIND IS WHEN YOU LOOK
AT IT AND WHEN YOU LISTEN TO
WHAT'S IN IT, IT'S A YOU'RE ON
YOUR OWN KIND OF PLAN.
IT'S, YOU KNOW, FOR THOSE WHO
ARE WEALTHY AND THOSE WHO ARE
BEHOLDEN TO SPECIAL INTERESTS
AND HEDGE FUND BILLIONAIRES AND
MILLIONAIRES AND ALL THOSE WHO
HAVE BENEFITED FROM THE TAX
CUTS, THEY'LL BE FINE.
BUT FOR THOSE, AS YOU MENTIONED
EARLIER, WHO ARE POOR OR COULD
POSSIBLY FALL FROM MIDDLE INCOME
INTO THE RANKS OF THE POOR THIS
DEBT CEILING PLAN PUT FORTH BY
THE REPUBLICANS IS MORALLY WRONG
AND IT'S FISCALLY UNSOUND.
AND SO WE DON'T WANT TO SEE THE
MAJORITY OF AMERICAN PEOPLE ON
THEIR OWN ONCE AGAIN AND SO I'M
GLAD WE'RE HERE TONIGHT
DISCUSSING THIS.
THE REPUBLICAN DEFAULT ON OUR
DEBT, THIS WOULD DEVASTATE THE
RETIREMENT SAVINGS OF MILLIONS
OF AMERICAN SENIORS, JUST
DEVASTATE.
AND WE KNOW THAT SOCIAL
SECURITY, MEDICARE, MEDICAID,
THESE GOVERNMENT SAFETY NET
PROGRAMS HAVE PROVIDED FOR
MILLIONS OF OUR SENIORS TO LIVE
A DECENT LIFE IN THEIR GOLDEN
YEARS.
AND TO NOT FALL INTO THE RANKS
OF POVERTY AND NOW ALL OF THESE
PROGRAMS ARE ON THE CHOPPING
BLOCK.
IT MAKES NO SENSE.
A REPUBLICAN DEFAULT ON OUR DEBT
S WOULD WEAKEN OUR ENTIRE
ECONOMY AND WEAKEN OUR NATIONAL
SECURITY AND WE HEARD EARLIER
THAT HUNDREDS OF THOUSANDS OF
JOBS COULD BE LOST, EVEN MORE
JOBS WOULD BE LOST.
WE SHOULD BE ABOUT CREATING
JOBS, NOT PUTTING FORTH MEASURES
THAT WOULD TAKE US FURTHER DOWN
THE ROAD INTO A RECESSION AND
FOR SOME A DEPRESSION.
IN FACT, IT'S VERY SIMPLE.
AMERICA MUST PLAY OUR -- PAY OUR
BILLS ON TIME AND WE MUST DO
THIS IN A WAY THAT DOES NOT
DEVASTATE THE SAFETY NET OUR
SENIOR CITIZENS AND OUR
CHILDRENS A FUTURE.
EITHER YOU'RE ON THE SIDE OF THE
AMERICAN PEOPLE AND WANT TO
SAFEGUARD VITAL HUMAN NEEDS
PROGRAMS LIKE MEDICARE AND
MEDICAID, SOCIAL SECURITY,
CRITICAL FOOD BENEFITS FOR
FAMILIES AND CHILDREN, OR YOU'RE
ON THE SIDE OF THE BILLIONAIRES,
THE BANKERS, FINANCIAL SERVICES
INDUSTRY, SUBSIDIES FOR MASSIVE
OIL COMPANY PROFITS, I MEAN,
YOU'RE ON ONE SIDE OR THE OTHER
IN THIS DEBATE.
THE CONGRESSIONAL BLACK CAUCUS
CONTINUES TO BE ON THE SIDE OF
OUR NATION'S MOST VULNERABLE
POPULATIONS WHO IN THESE VERY,
VERY HARD ECONOMIC TIMES DEPEND
ON THESE VITAL SAFETY NET
PROGRAMS FOR THEIR SURVIVAL DAY
IN AND DAY OUT.
MEANWHILE WE KEEP HEARING CLAIMS
FROM THE OTHER SIDE OF THE AISLE
THAT ONLY MISDIRECT ATTENTION.
AMERICA REALLY IS NOT BROKE.
WE'RE THE RICHEST AND STRONGEST
COUNTRY IN THE WORLD AND WE
STILL HAVE THE BEST IDEAS, THE
BEST WORKERS, THE BEST SCHOOLS
AND THE LARGEST ECONOMY IN THE
WORLD.
BUT WE WON'T BE FOR LONG IF THE
REPUBLICANS HAVE THEIR WAY.
YOU KNOW, YOU OFTEN WONDER, FOR
THOSE WHO SAY THAT DEFAULT WILL
NOT WREAK HAVOC ON THE COUNTRY,
THERE'S SOME WHO, YOU KNOW, I
THINK COULD CARE LESS IF WE WENT
INTO A DEFAULT BECAUSE IF YOU
LISTEN TO WHAT THEY'RE SAYING IT
DOESN'T REALLY BOTHER A LOT OF
MEMBERS HERE AND THAT TO ME IS
TRAGIC.
SOME TELL US THAT THE FUTURE IS
BLEAK AND THAT THE GOVERNMENT
CANNOT AFFORD TO INVEST IN A
PROSPEROUS AND GROWING AMERICA
BUT THE TRUTH IS THAT RAISING
THE DEBT CEILING SHOULD BE VERY
SIMPLE.
IT SHOULD BE A SIMPLE VOTE BY
ALL OF US TO ALLOW THE UNITED
STATES TREASURY TO FUND ALL OF
ITS PROGRAMS AND OBLIGATIONS AND
DEBTS OF THE ENTIRE FEDERAL
GOVERNMENT THAT ARE ALREADY IN
THE LAW.
REPUBLICANS IN THE HOUSE HAVE
ALREADY VOTED TO SUPPORT AND
PASS A $9 TRILLION INCREASE IN
THE NATIONAL DEBT AND NOW AGAIN
INSTEAD OF WORKING TO CREATE
JOBS AND HELP OUR NATION RISE
OUT OF THIS GREAT RECESSION AND
DEPRESSION FOR MANY, THE
REPUBLICANS ARE REALLY PLAYING
HIGH STAKES GAME OF CHICKEN WITH
THE SAFETY NET AND WITH THE
SECURITY OF EVERY SINGLE
AMERICAN SO THAT THEY CAN
PROTECT THE MASSIVE AND
CONGRESSMAN SCOTT AND YOURSELF
TALKED ABOUT THIS $400 BILLION
TAX CUT THAT CONGRESSMAN SCOTT
WARNED US WE'D HAVE TO PAY FOR
SOMETIME SOON, IT CAME SOONER
RATHER THAN LATER, CONGRESSMAN
SCOTT, AND WE LISPED TO YOU AND
THOSE OF WHITE HOUSE VOTED NO,
WE TRIED.
YOU KNOW, TRIED.
BUT HERE WE ARE WITH YOUR
PREDICTION COMING TRUE.
YOU KNOW, HERE WE'RE ASKING ONCE
AGAIN, THOSE WHO HAVE BEEN HURT
THE MOST VULNERABLE TO PAY ONCE
AGAIN AND THAT IS JUST DOWNRIGHT
WRONG.
A FAILURE TO RAISE THE DEBT
LIMIT WOULD MEAN AN IMMEDIATE
STOP TO OVER 40% OF THE ENTIRE
FEDERAL GOVERNMENT.
OUR SOLD WOORS NOT GET PAID,
SOCIAL SECURITY -- SOLDIERS
WOULD NOT GET PAID, SOCIAL
SECURITY AND MEDICARE AND
MEDICAID PAYMENTS WOULD BE
DELAYED AND THE HEALTH AND
SAFETY OF EVERY SINGLE AMERICAN
WOULD BE THREATENED ALONG WITH
THE HELP OF OUR VERY FRAGILE
ECONOMY.
THE INCREDIBLY IRRESPONSIBLE
POSITION THAT THE REPUBLICANS
HAVE TAKEN, PROTECTING TAX
BREAKS NOR THE SUPER RICH, WALL
STREET CORPORATIONS, BIG OIL,
THAT SEEMS TO BE MORE IMPORTANT
THAN THE UNITED STATES
GOVERNMENT AND PREVENTING THE
UNITED STATES GOVERNMENT FROM
DEFAULTING ON OUR DEBTS.
AND LET ME JUST REMIND THOSE WHO
WANT TO CUT MEDICARE AND
DISMANTLE MEDICARE, THAT'S
BASICALLY WHAT THEY WANT TO DO,
MEDICARE RECIPIENTS DID NOT
CREATE THE NATIONAL DEBT AND
THAT IS UNCONSCIONABLE TO EVEN
TALK ABOUT BALANCING THE BUDGET
OR PAYING DOWN THE DEBT ON THE
BACKS OF OUR MOST VULNERABLE
ARE FACING LIVING IN POVERTY.
POPULATIONS, INCLUDING THOSE WHO
AND LET ME REMIND OUR REPUBLICAN
COLLEAGUES AGAIN THAT THE
CONGRESSIONAL BLACK CAUCUS UNDER
THE LEADERSHIP OF CHAIRMAN
CLEAVER, CONGRESSWOMAN
CHRISTENSEN, CONGRESSMAN BOBBY
SCOTT, ALREADY OFFERED A BUDGET
ANSWERED MENTIONED IT EARLIER,
THAT WOULD SAVE $5.7 TRILLION
FROM THE DEFICIT, PROTECT OUR
MOST VULNERABLE COMMUNITIES AND
WOULD HAVE ENSURED THE STABILITY
OF MEDICARE, MEDICAID AND SOCIAL
BALANCED.
SECURITY AND OUR BUDGET WAS
SO THE COUNTRY'S NOT BROKE AM.
WE KNOW HOW WE GOT HERE.
TWO WARS, THESE MASSIVE TAX CUTS
FOR THE VERY WEALTHY, WALL
STREET GOING AMOK.
AND SO, YOU KNOW, IT'S TIME TO
BE REAL AND IT'S TIME TO BE
TRUTHFUL, IT'S TIME TO BE HONEST
AND IT'S TIME TO MAKE SURE THAT
THE DECISIONS WE MAKE HERE WILL
NOT DIG US DEEPER INTO THE HOLE.
AMERICA REALLY DOESN'T HAVE ANY
MORE TIME FOR THESE REPUBLICAN
GAMES.
LET ME ALSO CONCLUDE BY TALKING
ABOUT THOSE WHO ARE UNEMPLOYED.
BECAUSE IF WE DON'T DO SOMETHING
QUICKLY THE RANKS OF THE UN--
RANCOR OF THE UNEMPLOYED ARE --
THE RANKS OF THE UNEMPLOYED ARE
GOING TO GROW EVEN GREATER.
UNEMPLOYMENT COMPENSATION IS
REALLY SURVIVAL FUNDS, SURVIVAL
COMPENSATION, UNTIL WE FIGURE
OUT HOW WE'RE GOING TO CREATE
JOBS AND INCIDENTALLY THE
REPUBLICANS HAVEN'T PUT FORWARD
ANY JOBS PLAN SINCE THEY'VE BEEN
IN POWER.
BUT THESE LONG-TERM UNEMPLOYED
AMERICANS WHO HAVE RUN OUT OF
THEIR UNEMPLOYMENT COMPENSATION
KNOWN AS THE 99ERS, THEY
CONTINUE TO FACE UNCERTAINTY AND
HARDSHIP AND THE HOUSE MUST ACT
NOW TO STAND WITH THESE
INDIVIDUALS.
H.R. 589 WHICH MY COLLEAGUE
CONGRESSMAN SCOTT AND I
INTRODUCED EARLIER THIS YEAR,
CONGRESSWOMAN CHRISTENSEN AND
MANY MEMBERS OF THE
CONGRESSIONAL BLACK CAUCUS ARE
CO-SPONSORS, THIS WOULD ADD 14
WEEKS OF UNEMPLOYMENT EMERGENCY
COMPENSATION AND WOULD MAKE
THESE BENEFITS RETROACTIVELY
AVAILABLE TO PEOPLE WHO HAVE
CAUSTED -- EXHAUSTED ALL OF
THEIR BENEFITS AND ARE STILL
UNEMPLOYED.
EXTENDING THESE BENEFITS FOR
LONG-TERM UNEMPLOYED INDIVIDUALS
WILL STIMULATE OUR ECONOMY,
EMPOWER MORE CONSUMERS AND
CREATE MORE JOBS.
SO THIS EXTENSION SHOULD BE IN
ANY DEFICIT REDUCTION PLAN
BECAUSE WE KNOW THAT NOT ONLY IS
THIS THE RIGHT THING TO DO, THE
MORALLY CORRECT THING TO DO,
THIS IS THE ECONOMICALLY PRUDENT
THING TO DO IN TERMS OF PASSING
EMERGENCY EXTENSION.
IT REALLY SHOULD BE THE FIRST
STEP IN TAKING BOLD STEPS TO
CREATE MILLIONS OF JOBS FOR
AMERICANS.
SO WE SHOULD BE WORKING TO PASS
A JOBS BILL THAT WOULD HELP
PEOPLE FIND THIS PATHWAY OUT OF
POVERTY, WE SHOULD HELP KEEP
MIDDLE INCOME INDIVIDUALS FROM
FALLING INTO POVERTY, WE SHOULD
BE LOOKING AT A BUDGET AND A
PLAN THAT, YES, WILL HELP PAY
DOWN OUR DEBT, YES IT IS PART OF
DEFICIT REDUCTION THAT
INCORPORATES DEFICIT REDUCTION
AS PART OF IT, BUT, NO, THAT
DOES NOT CUT MEDICARE, SOCIAL
SECURITY OR MEDICAID AND WE
SHOULD REALLY BE TRYING TO
FIGURE OUT A WAY TO CREATE SOME
JOBS FOR PEOPLE.
I MEAN, THAT'S THE BOTTOM LINE,
THAT'S WHAT WE NEED TO DO.
SO THANK YOU AGAIN,
CONGRESSWOMAN CHRISTENSEN, FOR
CALLING THIS SPECIAL ORDER
TODAY.
WE SHOULD MAKE SURE THAT THE
WORLD KNOWS THAT THE
CONGRESSIONAL BLACK CAUCUS
CONTINUES TO CALL TO THE
ATTENTION THE GAMES THAT
REPUBLICANS ARE PLAYING THAT
WILL THREATEN OUR NATIONAL
SECURITY INTERESTS AS WELL AS
OUR ECONOMIC INTERESTS AND THE
FACT THAT WE'RE HERE WORKING TO
TRY TO CREATE SOME JOBS AND TO
HELP ENSURE THAT THIS DEBT
CEILING IS RAISED.
THAT'S THE BOTTOM LINE.
THANK YOU AGAIN.
THANK YOU,
CONGRESSWOMAN BARBARA LEE, AND I
JUST WANT TO MENTION THAT WHEN
WE HAD OUR JOBS SUMMIT ABOUT A
WEEK AND A HALF AGO WE PASSED
OUT SOME INFORMATION TO THOSE IN
ATTENDANCE THAT ADDED UP TO
ABOUT 30 JOB CREATING PIECES OF
LEGISLATION THAT JUST THE C.B.C.
HAS INTRODUCED IN THIS YEAR AND
I DON'T BELIEVE THAT THE
REPUBLICAN MAJORITY HAS BROUGHT
ANY JOB CREATING BILLS TO THE
FLOOR AND IN THIS RECOVERY
THAT'S WHAT WE NEED, JOBS.
AND I KNOW SOMETIMES WE WERE
ACCUSEDED OF CLASS WARFARE BUT
WE'RE NOT PITTING THE POOR
AGAINST THE RICH OR THE MIDDLE
CLASS AGAINST THE RICH.
WE JUST THINK THAT EVERYONE
NEEDS TO BE ON THE SIDE OF OUR
COUNTRY.
WE ARE CALLING FOR SHARED
SACRIFICE AND FOR FAIRNESS AND
REALLY THIS OUGHT TO BE A CLEAN
DEBT CEILING, RAISING OF THE
DEBT CEILING.
THE CUTS WE'RE TALKING ABOUT
THAT ARE GOING TO HURT THE
PEOPLE OF THIS COUNTRY ARE TOO
IMPORTANT FOR US TO BE RUSHING
THROUGH AND USING TO HOLD THE
DEBT CEILING HOSTAGE.
SO LET'S NOT HOLD SUCH A
CRITICAL THING AS OUR ABILITY TO
PAY OUR BILLS, TAKE CARE OF OUR
SENIORS, OUR CHILDREN, OUR
PEOPLE WITH DISABILITY AND
RESERVE OUR CREDIT WORTHINESS,
NOT ONLY FOR AMERICANS BUT THE
WHOLE WORLD DEPENDS ON US AND WE
CANNOT LET THEM DOWN, WITH YOU
CANNOT LET THE AMERICAN PUBLIC
DOWN, INCLUDING MY CONSTITUENTS,
WE CANNOT LET OUR COUNTRY DOWN
AND ALL OF THE COUNTRIES IN THE
WORLD WHO DEPEND ON US AND WITH
THAT I THANK MY COLLEAGUES FOR
JOINING ME, I WANT TO ONCE AGAIN
THANK THE AARP FOR THEIR
PETITIONS AND FOR THIS STRONG
ADVOCACY ON BEHALF OF NOT ONLY
SENIORS BUT ALL AMERICANS IN OUR
COUNTRY AND I'D LIKE TO ASK
UNANIMOUS CONSENT TO ENTER A
STATEMENT FOR CONGRESSWOMAN
EDDIE BERNICE JOHNSON INTO THE
RECORD THIS EVENING.
THE
GENTLELADY YIELDS BACK THE
BALANCE OF HER TIME.
UNDER THE SPEAKER'S ANNOUNCED
POLICY OF JANUARY 5, 2011,, THE
GENTLEMAN FROM VIRGINIA, MR.
GINGREY, IS RECOGNIZED FOR 60
MINUTES AS THE DESIGNEE OF THE
.
MAJORITY LEADER.
I THANK YOU AND I
THANK MY LEADERSHIP, THE
MAJORITY LEADER ON THE
REPUBLICAN SIDE, SPEAKER OF THE
HOUSE AND OUR CONFERENCE
CHAIRMAN, REPRESENTATIVE JEB
HENSARLING, FOR GIVING US THE
OPPORTUNITY, THE HOUSE G.O.P.
DOCTORS CAUCUS TO HAVE THE
SPECIAL ORDER HOUR THIS EVENING.
IT'S CONVENIENT, MY WELL
RESPECTED MEMBERS AND FRIENDS
FROM THE CONGRESSIONAL BLACK
CAUCUS TALKING ABOUT THE BUDGET
AND WHAT WE'RE TRYING TO DO IN
REGARD TO MOVING FORWARD,
TALKING, OF COURSE, ABOUT SAFETY
NET PROGRAMS AND ENTITLEMENT
PROGRAMS, SUCH AS SOCIAL
SECURITY AND MEDICARE AND THAT'S
A GREAT LEAD-IN ABOUT OUR TOPIC
THIS EVENING BECAUSE IT'S GOING
TO BE ABOUT THE MEDICARE
PROGRAM.
WE, ON OUR SIDE OF THE AISLE IN
THE REPUBLIC CAVERN PAST, HOUSE
-- REPUBLICAN PAST, WE HAVE
SOLVED THE CRISIS WHICH THE
TRUSTEES HAVE SAID TO ALL
MEMBERS OF CONGRESS, NOT
DEMOCRATS OR REPUBLICANS, BUT
ALL OF US THAT ACCORDING TO THE
TRUSTEE REPORT THAT BY THE YEAR
2024, IF WE DON'T DO SOMETHING
ABOUT THE MEDICARE PROGRAM AS IT
CURRENTLY EXISTS, AS IT'S
CURRENTLY FUNDED, THE AMENDMENT
OF SPENDING THAT OCCURS YEAR
AFTER YEAR AND WILL ONLY
INCREASE AS MORE AND MORE OF OUR
BABY BOOMERS ARE REACHING AGE
65, IF WE DON'T DO SOMETHING
ABOUT THAT, THEN THAT MEDICARE
PART A HOSPITAL TRUST FUND IS
NOT SUPPORTED BY ANY RECIPIENT
CONSTITUENT PREMIUMS, IT'S GOING
TO GO BROKE.
IT IS ABSOLUTELY GOING TO GO
BROKE.
I SAY TO MY DEMOCRATIC
COLLEAGUES, THE COMPASSIONATE
THING AND I KNOW THEY HAVE
COMPASSION, THE COMPASSIONATE
THING IS TO SAVE THE PROGRAM TO
GUARANTEE, PRESERVE IT FOR
CURRENT MEDICARE RECIPIENTS,
EVEN FOR FOLKS WHO ARE ARE 65
YEARS OF AGE TODAY.
MEDICARE AS WE KNOW IT WOULD BE
PROTECTED, WOULD BE STRENGTH
THEPPED FOR ALL OF THOSE
INDIVIDUALS.
AND BY THE TIME THOSE WHO ARE 55
YEARS OLD TODAY BECOME 65 IN 10
YEARS, AROUND 2024, MR. SPEAKER,
THERE WOULD BE SOMETHING LIKE 65
MILLION SENIORS AND A SMALLER
NUMBER OF DISABLED INDIVIDUALS
IN THE MEDICARE PROGRAM AS WE
KNOW IT.
THEY WOULD BE IN THE MEDICARE
PROGRAM AS WE KNOW IT FOR THE
REST OF THEIR NATURAL LIVES.
AND BECAUSE OF GOOD HEALTH CARE
IN THIS COUNTRY, MANY PEOPLE,
WOMEN, ARE LIVING TO AGE 82 AND
MEN TO 78, THESE 68 MILLION
PEOPLE WOULD BE ON MEDICARE FOR
A LONG TIME AND WHAT WE DO ON
OUR BUDGET AND MY COLLEAGUES
DIDN'T MNGS IT, BUT WHAT WE DO
IN OUR BUDGET GO FORWARD WITH A
PLAN FOR YOUNGER FOLKS AND
INDEED FOR MY GRANDCHILDREN, 10
GRANDCHILDREN, THE OLDEST ARE
TWO 13-YEAR-OLD TWINS, BUT EVEN
25-YEAR-OLDS, 35-YEAR-OLDS,
35-YEAR-OLDS, WE SOLVE THE
MEDICARE PROBLEM SO IT WILL BE
THERE FOR THEM INSTEAD OF
NOTHING COME 2024 AND MAYBE PAY
FOR 25 YEARS, THAT FICA TAX THAT
IS TAKEN OUT OF THEIR PAY CHECK.
I SAY TO MY FRIENDS, THIS IDEA
THAT PRESIDENT OBAMA HAS AND THE
LEADERSHIP OF YOUR PARTY OF JUST
SIMPLY KICKING THE CAN DOWN THE
ROAD DOESN'T GET THE JOB DONE.
IT'S WHAT WE CALL SOMETIMES AND
I KNOW ALL OF US KNOW THE
EXPRESSION, WHISTLING PAST THE
GRAVEYARD, PRETENDING THAT A
PROBLEM DOESN'T EXIST AND THAT
IS AN UNCONSCIONABLE APPROACH.
I'M PLEASED TO HAVE A NUMBER OF
MY COLLEAGUES WHO HAVE JOINED
WITH US, SOME OF THEM ARE PART
OF THE HOUSE G.O.P. DOCTORS
CAUCUS AND WE ARE MOSTLY MEDICAL
DOCTORS, AND THERE ARE A NUMBER
CAUCUS.
OF REGISTERED NURSES IN OUR
THERE ARE DENTISTS.
IN THE AGGREGATE, THE MEMBERS OF
THE HOUSE G.O.P., DOCTORS CAUCUS
ARE MEDICAL PROFESSIONALS WHO
SPENT A LOT OF THEIR LIFE
PRACTICING MEDICINE AND
PROVIDING CARE, INDEED, UNDER
MEDICAID AND THE MEDICARE
PROGRAM, SEEING THOSE PATIENTS
MOSTLY AT A FINANCIAL LOSS, BUT
STILL, VERY WILLING TO TRY TO
HELP THOSE FOLKS WHO NEED US TO
BE THERE FOR THEM IN THESE
SAFETY NET PROGRAMS.
I THINK IN THE AGGREGATE, THE
MEMBERSHIP OF THE HOUSE G.O.P.
DOCTORS CAUCUS MAY HAVE OVER 350
YEARS OF CLINICAL EXPERIENCE.
MAYBE WE ARE GETTING GRAY BY THE
SIDEBURNS, BUT WE ARE NOW
MEMBERS OF CONGRESS AND WE ARE
TRYING TO DO THINGS FOR OUR
CONSTITUENTS AND THE SENIORS OF
THIS GREAT COUNTRY OF OURS TO
MAKE SURE THAT WE PRESERVE AND
PROTECT PROGRAMS LIKE MEDICARE
AND MEDICAID.
AND THAT'S WHAT THIS IS ALL
ABOUT TONIGHT.
I WANT TO FIRST YIELD TO MY
FRIEND FROM TENNESSEE, MY
CO-OB-G YMP N DOCTOR AND DR.
PHIL ROE HAS BEEN A MEMBER OF
THIS BODY FOR FOUR YEARS AND
BEEN A GREAT ASSET.
AND I KNOW THAT DR. R OMP E HAS
A BILL THAT HE WANTS TO ADDRESS
CONCERNING SOME PROBLEMS THAT
WERE ENACTED UNDER OBAMACARE.
SO I YIELD TO DR. ROE.
I THINK, MR. SPEAKER, I
GO BACK TO WHEN MEDICARE FIRST
BEGAN ABOUT -- IN 1965, THERE
WAS A PROBLEM IDENTIFIED IN
AMERICA WHERE WE HAD A GROUP OF
OUR CITIZENS AS THEY BECAME 65
YEARS OF AGE AND OLDER THAT
DIDN'T HAVE ACCESS TO QUALITY
HEALTH CARE.
SO A PLAN WAS PUT IN PLACE TO
ACCESS QUALITY HEALTH CARE.
IN 1965, MR. SPEAKER, THE
MEDICARE PROGRAM WAS A $3
BILLION PROGRAM.
THERE WAS NO CONGRESSIONAL
BUDGET OFFICE AT THAT TIME.
THE ESTIMATES, THAT IN 25 YEARS,
THIS WOULD BE A $15 BILLION
PROGRAM BUT TURNED OUT TO BE
$OVER 100 BILLION.
IN 2010, $550 BILLION.
WE ALSO AS HAS BEEN POINTED OUT
IN OUR PREVIOUS HOUR BY OUR
FRIENDS FROM THE BLACK CAUCUS
THAT WE HAVE A TREMENDOUS
DEFICIT, BORROWING 42 CENTS OF
EVERY DOLLAR IN THIS COUNTRY.
I CAME TO WASHINGTON -- I
PRACTICED MEDICINE FOR OVER 30
YEARS AND I REALIZED THAT WE HAD
A SERIOUS PROBLEM, NOT JUST IN
MEDICARE BUT IN HEALTH CARE.
WE CAME TO WORK IN HEALTH CARE
REFORM AND THE DOCTORS' CAUCUS,
NOT ONE OF US WAS CONSULTED WITH
THE AFFORDABLE HEALTH CARE ACT.
DECADES' WORTH OF EXPERIENCE.
OVER 200 YEARS OF EXPERIENCE IN
THE CONGRESS AT THAT TIME AND
NOT ONE OF US WAS ACTUALLY
CONSULTED.
THE WAY I LOOKED AT THE PROBLEM
IN OUR HEALTH CARE SYSTEM WAS WE
HAD THREE PROBLEMS.
ONE IS WE HAD A PROBLEM WHERE
THE SYSTEM WAS TOO EXPENSIVE.
GO TO THE DOCTOR AND COSTS TOO
MUCH MONEY.
WE HAD A GROUP OF PEOPLE WHO
DIDN'T HAVE AFFORDABLE HEALTH
CARE COVERAGE.
MAYBE THE HUSBAND IS A CARPENTER
AND THE WIFE WORKED AT A DINER
AND THIRDLY, WE HAD A LIABILITY
PROBLEM.
SO WHAT DID WE DO?
WE HAD A -- OVER 2,000-PAGE BILL
THAT GOT TO THE HOUSE AND SENATE
AND FAILED.
THE SENATE DUSTED THE BILL OFF
THAT WAS 2,500-PLUS PAGES THAT
DIDN'T GO THROUGH A HEARING.
AND THE THREE PHYSICIANS ALL
READ THAT BILL.
AND WHEN I READ THAT BILL, MR.
SPEAKER, I FOUND SOME THINGS IN
THERE, AS DID MY COLLEAGUES,
WHICH GREATLY WORRIED US AND HOW
THEY FUND THIS BILL, I WANT TO
GO THROUGH THAT TO LET YOU KNOW
HOW THE FUNDING, ONLY WASHINGTON
CAN FUND ANYTHING LIKE THIS.
DR. GINGREY HAS POINTED OUT THAT
WE ARE TRYING TO SAVE MEDICARE.
MEDICARE THAT THE CONGRESSIONAL
BUDGET OFFICE SAYS IT WILL BE
OUT OF MONEY.
AND THERE ARE FOUR PARTS OF
MEDICARE, MEDICARE PART A PAID
FOR BY YOUR PREMIUMS,
HOPIZATIONS.
MEDICARE PART D, DOCTOR SERVICES
AND LAB SERVICES, FUNDED BY 25%
FROM YOUR PREMIUMS, 75 FRS COMES
FROM THE GENERAL FUND,
TAXPAYERS.
MEDICARE ADVANTAGE WHICH WAS CUT
AND MEDICARE PART D IS ONLY
FUNDED BY 25% BY OUR PREMIUMS.
I'M A MEDICARE RECIPIENT MYSELF
AS OF LAST YEAR.
SO WHAT DID THE ADMINISTRATION
DO AND THE SENATE DO TO FUND
THIS AFFORDABLE HEALTH CARE ACT?
THEY TOOK OUT OF AN ALREADY
UNDERFUNDED PROGRAM AS I POINTED
OUT, $500 BILLION.
AND DR. GINGREY POINTED OUT
MOMENTS AGO THAT WE'RE ADDING
THREE MILLION BABY BOOMERS PER
YEAR.
10,000 A DAY.
WE ARE ADDING MILLIONS OF
RECIPIENTS WHILE PULLING OUT
$500 BILLION AND WE CALL THIS
SAVING MEDICARE.
WE AREN'T TALKING ABOUT THE
BUDGET IMPASSE.
WE ARE TALKING ABOUT WHAT HAS
ALREADY BEEN PASSED.
AND ONE OF THE THINGS I FOUND IN
THERE, MR. SPEAKER, WAS A VERY
LITTLE KNOWN BOARD CALLED THE
BOARD.
INDEPENDENT PAYMENT ADVISORY
AND BEFORE MEDICARE HAD THIS
BOARD IN THERE, WHICH WAS
STRICTLY THERE.
MEDPAC THAT SAID TO CONGRESS, WE
HAVE PROBLEMS WITH FUNDING AND
MAYBE WE SHOULD LOOK OVER HERE.
CONGRESS WOULD HAVE THE ABILITY
TO MAKE DECISIONS.
WHAT IPAB --
I WOULD LIKE TO
CALL MY COLLEAGUE'S ATTENTION TO
THIS POSTER, BECAUSE THIS IS