House Proceeding on Feb 7th, 2007 :: 1:37:42 to 1:48:19
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1:35:53 to 1:37:42( Edit History Discussion )
Speech By: Kendrick B. Meek

1:37:10 to 1:37:42( Edit History Discussion )

Kendrick B. Meek: people that he achieves this so-called balance by borrowing $1.2 trillion of social security surplus, spending it and replacing it with i.o.u.'s. remember just last year the president was shocked,

1:37:42 to 1:38:22( Edit History Discussion )

Tim Ryan: shocked to find when he went to parkersburg, west virginia, that the social security trust fund consisted of nothing but i.o.u.'s. now the federal government's pretty good for its debts unless

1:37:42 to 1:48:19( Edit History Discussion )
Speech By: Tim Ryan

1:38:23 to 1:38:46( Edit History Discussion )

Tim Ryan: you run up such a mountain of debt and you cut revenues so much with tax cuts for the wealthy that you can't afford to meet those obligations, you can't afford to cash in the bonds or the i.o.u.'s

1:38:46 to 1:39:26( Edit History Discussion )

Tim Ryan: to social security. and i believe that's his long-term plan, to bankrupt social security, medicare and other new deal programs that this administration visserly hates because they don't

1:39:27 to 1:40:04( Edit History Discussion )

Tim Ryan: encourage people to stand on their own. we would be a more productive society if they would have those programs. i think it gives people a lot of opportunity and chances in their life because they know

1:40:04 to 1:40:31( Edit History Discussion )

Tim Ryan: if they don't make it in that business, at least they have a foundation there for their laters years. so we should not jeopardize social security. the president should not borrow and spend the

1:40:31 to 1:41:09( Edit History Discussion )

Tim Ryan: entire social security surplus just before the baby boom retires. but even after he does that, the president's budget does not achieve balance. far from it. the president's budget assumes there will

1:41:09 to 1:41:40( Edit History Discussion )

Tim Ryan: be no costs for the war in iraq or the war in afghanistan after 2009. i guess he has a withdraw plan he hasn't told us about. what about the much-wanted war on terror? no money in the future

1:41:40 to 1:42:20( Edit History Discussion )

Tim Ryan: budgets for that. he assumes all that goes away. you know, the incredible amounts of money we're spending there. he further assumes that if we cut taxes more for the wealthy that the government

1:42:20 to 1:43:00( Edit History Discussion )

will get more revenues. now isn't that a beautiful world, if we could just eliminate taxes for the wealthy, i guess we would go back to having surpluses in the government under the theories

1:43:03 to 1:43:36( Edit History Discussion )

by these neoconservatives who appear to be pretty wrong on a host of things, starting with iraq and if you reduce revenues your revenues increase. they don't. plain and simple. the wealthiest

1:43:36 to 1:44:00( Edit History Discussion )

of among us have to start paying their fair share to support this country, particularly in a time of crisis. why shouldn't they sacrifice like the men and women, many of whom in the national

1:44:00 to 1:44:31( Edit History Discussion )

guard because they needed an income. yes, they wanted to serve our country but they needed an income. many are in the military, yes, because they want to serve their country but also because

1:44:31 to 1:45:11( Edit History Discussion )

they hope to get the education benefits and some training to do better when they come out. but the wealthiest, they're giving tax cuts, the first tax cuts in the time of war in the history of

1:45:20 to 1:45:56( Edit History Discussion )

the united states of america. but the president doesn't think we should ask anything of the wealthy. and he pretends that if we extend their tax breaks forever, if we eliminate taxes on estates

1:45:56 to 1:46:28( Edit History Discussion )

Tim Ryan: worth over $5 million that in fact the government will have more revenues. unfortunately it's not true. . it will increase the numbers. he borrows the social security trust fund, cuts taxes for the

1:46:28 to 1:47:03( Edit History Discussion )

Tim Ryan: rich people. and how does he pretend to get the balance? by cutting medicare. that will help. $252 billion cutting medicare. wouldn't want to ask the rich people. the tax cuts for the rich

1:47:03 to 1:47:39( Edit History Discussion )

Tim Ryan: people so far exceed the cuts that he's making in medicare and medicaid, we could fully fund those programs and just ask to restore a fraction of the taxes on people who earn more than $300,000. but the

1:47:39 to 1:48:19( Edit History Discussion )

Tim Ryan: president doesn't want to do that. and he goes through the entire budget slashing. he said, again, i agree what he said. he said he would increase pell grants. his budget does not increase