Video archive of the US Congress

House Proceeding on Jan 22nd, 2009 :: 1:54:45 to 1:56:25
Total video length: 2 hours 47 minutes Stream Tools: Stream Overview | Edit Time

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Dan Burton

1:54:40 to 1:55:00( Edit History Discussion )

Dan Burton: who was head of the fed at the time. they raised the interest rates to 21% because they thought that was the only way to get inflation under control. it put a hammer in the economy. now the reason i bring this up is we're heading toward hyperinflation again. we're spending so much money that we don't have that they're

Dan Burton

1:54:45 to 1:56:25( Edit History Discussion )
Speech By: Dan Burton

Dan Burton

1:55:01 to 1:55:22( Edit History Discussion )

Dan Burton: going to have to print it. we're spending 00 billion on the tarp plan we don't know where the money's going. we have another 25 billion or 30 billion coming up in the next couple of weeks. we're going to be looking at trillion to trillion of additional spending we don't have and where do you think the money is going to come from? it's going to come from the

Dan Burton

1:55:23 to 1:55:43( Edit History Discussion )

Dan Burton: taxpayer and it's going to come from the hides of the people of this country because they have to print that money. if they do we'll have more money chasing few goods and services and that means we'll have very high inflation again. they'll come back with a hammer and say the only way to stop inflation is to raise interest rates which will put us in another economic time.

Dan Burton

1:55:44 to 1:56:05( Edit History Discussion )

Dan Burton: it will be like a rubber band and we'll be going like this. the only way is to cut taxes to stimulate economic growth by helping the private sector and giving the american people more disposable income,ot by printing more money and just throwing money at these problems. it's not going to solve the problem. it's going to cause severe economic problems down the road that we don't even visualize

Dan Burton

1:56:06 to 1:56:25( Edit History Discussion )

Dan Burton: yet they will be so bad. so i'd like to say to my colleagues, let's the kids of the future that will have to bear the responsibility of this. they're the ones that are going to have to pay the price because we're spending so much money we don't have right now. we're heading toward hyperinflation. the speaker pro tempore: the gentleman's time h the gentleman from

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