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House Proceeding 01-14-09 on Jan 14th, 2009 :: 0:18:35 to 0:21:40
Total video length: 1 hours 57 minutes Stream Tools: Stream Overview | Edit Time

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Dan Burton

0:18:32 to 0:18:53( Edit History Discussion )

Dan Burton: to get an explanation in writing as to why that wasn't possible. housing as pa of that is clearly included. ms. moore: thank you, mr. chairman and i yield back. the speaker pro tempore: the gentlewoman yields back. the gentleman from alabama. mr. bachus: thank you. i yield two minutes to the gentleman from indiana, mr. burton. the speaker pro tempore: the gentleman from indiana is

Dan Burton

0:18:35 to 0:21:40( Edit History Discussion )
Speech By: Dan Burton

Dan Burton

0:18:54 to 0:19:14( Edit History Discussion )

Dan Burton: recognized for two minutes. mr. burton: i thank the gentleman for yielding. not long ago the secretary of the treasury came into our conversation -- conference and he was visibly shaken and he said if we didn't pony up 00 billion in a short period of time the entire economy of the united states was going to dissolve and we'd have a major depression.

Dan Burton

0:19:15 to 0:19:35( Edit History Discussion )

Dan Burton: there was no plan. it was just, give us 00 billion. instead of talking about long-term solutions such as tax cuts for the people across the board or stopping capital gains, doing away with capital gains taxes for a couple of years to stimulate investment, they said, throw 00 billion at us and

Dan Burton

0:19:36 to 0:19:57( Edit History Discussion )

Dan Burton: we'll solve the problem. well, here we are a short time later, 50 billion has been spent and nobody knows where. i mean, we come down to this floor, we start talking about the things that have been accomplished, we still have people losing their hopes. the financial system in this country is in real bad shape. companies are going bankrupt. and 50 billion has been ent

Dan Burton

0:19:58 to 0:20:18( Edit History Discussion )

Dan Burton: and nobody knows where. i know part of it went to buy a bank in china. i'm sure the american taxpayers really appreciate that. and now they're saying we've got to give another 50 billion very quickly or, once again, the sky's going to fall. well, the sky has been falling. and it seems to me that we ought to have a plan that deals with

Dan Burton

0:20:19 to 0:20:40( Edit History Discussion )

Dan Burton: the long-term financial problems facing this country. and a long-term financial problem facing this country involve investment, jobs and economic growth. and the only way you're going to get economic growth is to stimulate the economy by creating an incentive for people to invest. tax cuts. we need to cut capital gains.

Dan Burton

0:20:41 to 0:21:01( Edit History Discussion )

Dan Burton: i don't think anybody's really listening but we need to cut capital gas. we need to have tax cuts across the board and if we do that i think you'll start to see signs of a recovery in the not too distant future. in the meantime, when we have to pony up a few more hundred billion dollars to keep things going while this takes place, but we need an overall plan.

Dan Burton

0:21:02 to 0:21:22( Edit History Discussion )

Dan Burton: not just another 50 billion thrown at the federal reserve or -- may i have another 30 seconds? the speaker pro tempore: the gentleman's time has expired. mr. bachus: can i have another 30 seconds? the speaker pro tempore: the

Dan Burton

0:21:23 to 0:21:40( Edit History Discussion )

Dan Burton: gentleman from alabama. mr. burton: let me just summarize by saying we need a plan, a comprehensive plan that involves not only spending this 50 billion, but also a plan that will involve tax cuts across the board and incentives for business to invest such as a cut in the cap tap gains tax rate and cut in business taxes

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