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House Proceeding on Mar 24th, 2010 :: 2:05:50 to 2:11:10
Total video length: 2 hours 18 minutes Stream Tools: Stream Overview | Edit Time

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Virginia Foxx

2:05:46 to 2:06:06( Edit History Discussion )

Virginia Foxx: people we' going to create more temporary government jobs throughout t summer. that's not the answer to our economic woes. i yield back. the speaker pro tempore: the gentleman yields back. the gentlewoman reserves. the gentleman from colorado. mr. perlmutter: may i ask my friend from rth carolina how many more speakers she has? merchandise foxx: i'm prepared

Virginia Foxx

2:05:50 to 2:11:10( Edit History Discussion )
Speech By: Virginia Foxx

Virginia Foxx

2:06:07 to 2:06:27( Edit History Discussion )

Virginia Foxx: to close if you're prepared to close. mr. perlmutter: please. ms. foxx: may inquire how much time is left? the speaker pro tempore: the gentlewoman has five minutes, the gentleman has 13. ms. foxx: thank you, madam speaker. we keep talking about the economic situation in this country because it is extraordinarily important to

Virginia Foxx

2:06:28 to 2:06:48( Edit History Discussion )

Virginia Foxx: all of us and all these bills being passed the problem. as my colleague from arizona said and we've said over and over, you cannot repe the law os of economics. -- the laws of economics. our colleagues across the aisle think they can. right now, just the interest on

Virginia Foxx

2:06:49 to 2:07:09( Edit History Discussion )

Virginia Foxx: u.s. debt in f.y. 2010 is going to be $425 billion. that's like paying interest on a credit card and never, ever paying off the principal. the enormous burden of the interest costs on our debt take muns out of the economy for future generations and dweshts funds from being used for other, more pressing priorities. in addition, the u.s.

Virginia Foxx

2:07:10 to 2:07:30( Edit History Discussion )

Virginia Foxx: dependence on borrowing mone to fund our deficit places us in the precarious situation of being beholden to foreign nations ke china to fund our spending. high national debt also decreases confidence in the economy. as president obama said in 2009, i think it's important to

Virginia Foxx

2:07:31 to 2:07:51( Edit History Discussion )

Virginia Foxx: cognize if we keep on adding to the debt, even in the midst of a covery, people could lose confidence in the econy in a way that could lead to a double-bip recession. the president and colleagues on the other side of the aisle talk a good game and then do the opposite. despite their rhetoric of fiscal responsibility, the

Virginia Foxx

2:07:52 to 2:08:14( Edit History Discussion )

Virginia Foxx: president's budget more than doubles the debt, drives spending to a new record of $3.8 trillion -- trillion -- in fy-2011, pushes the deficit to a new record of $1.6 trillion in fn-2010 and raises taxes by over $2 trillion through 2020

Virginia Foxx

2:08:15 to 2:08:35( Edit History Discussion )

Virginia Foxx: by the administration's own estimates. the president's fy-2011 budget doubles the debt in five years, triples it between fy-2011 to fy-2020 levels. the largest debt in history and

Virginia Foxx

2:08:36 to 2:08:57( Edit History Discussion )

Virginia Foxx: the largest debt as a share of our economy in 59 years. despite the senate's passage of a $1.9 trillion increase in the debt limit, congress would need to increase this limit again before october 1, 2011 under the president's budget. the interest bill on the debt would more than quadruple by

Virginia Foxx

2:08:58 to 2:09:19( Edit History Discussion )

Virginia Foxx: the end of the decade, reaching $840 billion in 20 20. the budget boosts the deaf stoit a record level this year, $1.6 trillion or $10 -- or 10.6% of g.d.p. this is the largest deficit as a share of the economy since world war ii, deficits never

Virginia Foxx

2:09:20 to 2:09:40( Edit History Discussion )

Virginia Foxx: fall behind below $7 billion and end the decade at more than $1 trillion. even with the the cline in spending due to the repayment of most tarp funds and eventually spendout of stimulus funds, spending reaches a record level of $3.8 trillion in f.y.-2011.

Virginia Foxx

2:09:41 to 2:10:01( Edit History Discussion )

Virginia Foxx: this does not include the spending of the administration. even so, spending is still 23.7% of the economy at the end of the decade, when the historical average has always been 20%. madam speaker, we are in a critical time and in our country.

Virginia Foxx

2:10:02 to 2:10:22( Edit History Discussion )

Virginia Foxx: economists have told me that unless we stop spending in a very sport period of time, we are going to become like a third world nation. what has set us apardon for -- apart for so lodge from t rest of world has been the rule of law and the fact that we have been fiscally

Virginia Foxx

2:10:23 to 2:10:44( Edit History Discussion )

Virginia Foxx: conservative. the american people are fiscally conservative. they expect their government to be so. we are putting this country in danger and republicans are sounding the call. we want to help the american people, but we know the best way to do that is for the federal government to get out of the way and let the entrepreneurial spirit and the

Virginia Foxx

2:10:45 to 2:11:05( Edit History Discussion )

Virginia Foxx: freedom that has always characterized this country allow people tdo what's the right thing to do for our economy. this direction is wrong, we're going to continue to say that it is wrong, and we know the american people understand that. i urge my on this rule to vote no on the

Virginia Foxx

2:11:06 to 2:11:10( Edit History Discussion )

Virginia Foxx: underlying bill, we don't need to create more government jobs. we need to let people have

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