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House Proceeding 03-30-09 on Mar 30th, 2009 :: 2:00:00 to 2:10:20
Total video length: 3 hours 29 minutes Stream Tools: Stream Overview | Edit Time

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Phil Gingrey

1:59:57 to 2:00:17( Edit History Discussion )

Phil Gingrey: outsourcing of jobs, high taxes and high prices, that's not what the american people are asking for. we are joined by dr. gingrey, the gentleman from georgia, who is a tremendous advocate for free markets and health care, frequently.

Phil Gingrey

2:00:00 to 2:10:20( Edit History Discussion )
Speech By: Phil Gingrey

Phil Gingrey

2:00:18 to 2:00:38( Edit History Discussion )

Phil Gingrey: we'll go back and forth and love to hear at you he to say on the subject of the budget. mr. gingrey: i thank the gentlelady from minnesota for yielding and my classmate, representative scott garrett. this is the week that we take up the budget, mr. speaker. as all of our colleagues know,

Phil Gingrey

2:00:39 to 2:00:59( Edit History Discussion )

Phil Gingrey: and we're going to -- we have the obama version that came over from o.m.b., office of management and budget, which crunched the numbers for the president. and it's a budget that calls for -- well, i have the numbers right here, mr. speaker. and it has the side-by-side

Phil Gingrey

2:01:00 to 2:01:21( Edit History Discussion )

Phil Gingrey: comparison, the obama budget, the house version, and the senate version. i just can't help but be astounded by these numbers, but in the president's budget, h calls for spending $3.67

Phil Gingrey

2:01:22 to 2:01:42( Edit History Discussion )

Phil Gingrey: trillion, $3.67 trillion. that's 2010 fiscal year budget. now, when the congressional budget office, the bipartisan number crunchers for the congress, for the house and senate, when they looked at the obama budget, they said, you

Phil Gingrey

2:01:43 to 2:02:04( Edit History Discussion )

Phil Gingrey: know, instead of creating something like $7 trillion worth of debt over 10 years, it's going to be $9 trillion worth of debt over 10 years. and we heard on television, mr. speaker, expressed by the democratic

Phil Gingrey

2:02:05 to 2:02:26( Edit History Discussion )

Phil Gingrey: chairman of the budget committee, senator kent conrad from north dakota and the concern -- you could see it in his face the concerned expression on the face of the house -- chairman of the house budget committee, john spratt, our friend from south carolina

Phil Gingrey

2:02:27 to 2:02:48( Edit History Discussion )

Phil Gingrey: that goodness gracious based on these congressional budget office estimates, nonpartisan, that this presidential budget of $3.67 trillion was not sustainable. i think, mr. speaker, that's what the congressional budget office said. this level of spending is not sustainable.

Phil Gingrey

2:02:49 to 2:03:12( Edit History Discussion )

Phil Gingrey: so i really expected some significant cuts in the budget proposed by the house and proposed by the senate. and yet, when you look at these side by side, as i said at the outset, president obama budget, $3.67 trillion. the house budget, which mr. spratt will present to us in the

Phil Gingrey

2:03:13 to 2:03:35( Edit History Discussion )

Phil Gingrey: next couple -- three days, $3.55 trillion. the senate version, $5 trillion. toy -- $3.53 trillion. to my surprise, there is not

Phil Gingrey

2:03:36 to 2:03:58( Edit History Discussion )

Phil Gingrey: much cutting, $$3.55, the house version. there is a lot of spending and very little cut. i had to do the quick math and we are talking 1/100 of a percent or maybe 1/1000 of a cut. you can use a lot of rhetoric about at you're doing in

Phil Gingrey

2:03:59 to 2:04:19( Edit History Discussion )

Phil Gingrey: regard to being fiscally responsible, but you would have to say when you hear those numbers, gee, i guess what the democratic congress who enjoys the majority, the majority party basically makes some tweaking around the edges posturing, i think, to some extent.

Phil Gingrey

2:04:20 to 2:04:41( Edit History Discussion )

Phil Gingrey: buthere's no significant difference in the president's budget and what we're going to have to vote on here in the house and over in the senate. . so i think it's very, very misleading to suggest that this body or this congress, both

Phil Gingrey

2:04:42 to 2:05:02( Edit History Discussion )

Phil Gingrey: chambers, is exercising fiscal responsibility. i think these budgets are not sustainable, just as the president's budget is not sustainable. if my colleague from minnesota will continue to yield, i've got a slide or two i want to show. because, mr. speaker, i hear so much and i watched some of the

Phil Gingrey

2:05:03 to 2:05:23( Edit History Discussion )

Phil Gingrey: sunday morning cable programs and network news where, you know, most of the time it's the senators get the administration, of course geithner was on, and -- this weekend, as he's been on a lot with this, with what he's doing in the treasury department and the recommendations for getting

Phil Gingrey

2:05:24 to 2:05:44( Edit History Discussion )

Phil Gingrey: us back on the road to fiscal recove. but you know, i heard him say, the treasury secretary, you know, we inherited a bad situation. i know you've heard it, mrs. bachmann, i know you've heard

Phil Gingrey

2:05:45 to 2:06:05( Edit History Discussion )

Phil Gingrey: it. this creating a straw man and saying, well, we inherited this mess. talking about the budget or indeed about the situation in afghanistan or iraq. we inherited this bad policy. in regard to the budget, that's where i wanted to focus my attention.

Phil Gingrey

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

Phil Gingrey: they keep saying that this deficit for the fiscal year 2009, which now $1.7 or $1.8 trillion, that's four times as large as any deficit under the bush

Phil Gingrey

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

Phil Gingrey: administration. you go back and look at 2004, 2005, 2006, our deficits were coming down. the democrats have been in control, mr. speaker, since january of 2007. when you say you inherited,

Phil Gingrey

2:06:49 to 2:07:10( Edit History Discussion )

Phil Gingrey: well, what party was it that refused to pass nine spending bills in the fiscal year 2009. sn which party was that? it was the majority party. and the reason they did not want to pass the bills is because the former president simply said, this is too much spending.

Phil Gingrey

2:07:11 to 2:07:34( Edit History Discussion )

Phil Gingrey: if you send those to my desk, i will veto them. the democratic majority, mr. speaker, just held back on those spending bills and we had these continuing resolutions to fund the government because they knew when they got the presidency, which most polls suggested at that point they would, and they did, and then brought forward in the first

Phil Gingrey

2:07:35 to 2:07:56( Edit History Discussion )

Phil Gingrey: part of this yea that increased spend big 8% if you add the money that was put in the so-called economic recovery spend louse package, -- spendulous package, it turns out we increased spend big 80%. so you can't blame the previous

Phil Gingrey

2:07:57 to 2:08:18( Edit History Discussion )

Phil Gingrey: administration far $1.7 trillion deficit. you know, you can say, well some of that we voted on in regard to the tarp money, the $700 billion that vote occurring in the october-november time frame of 2008. that added to this deficit.

Phil Gingrey

2:08:19 to 2:08:40( Edit History Discussion )

Phil Gingrey: but who was it that voted for that and approved that in the house and senate? the democratic majority. they're the ones that voted for it. a few republicans, sure, but it was a democrat -- it was the democrats that they could have stopped it, they could have stopped every dime of that $700 billion tarp, taxic asset

Phil Gingrey

2:08:41 to 2:09:02( Edit History Discussion )

Phil Gingrey: relief program which as it turned out was never even spent for that. as we look at what's going on in the future, just as the congressional budget office did over the next 10 year, you see what we're talking about, these deficits that go out into the future as far as the eye can see, at the end of 10 years,

Phil Gingrey

2:09:03 to 2:09:25( Edit History Discussion )

Phil Gingrey: our debt is increased, well, real quickly, just another slide to show that in 2019, that 10-year budget window, we're going from something like almost $6 trillion of debt to $14 trillion, almost zhrrs 15

Phil Gingrey

2:09:26 to 2:09:48( Edit History Discussion )

Phil Gingrey: year 2019. man, if anything is unsustainable, that's unsustainable. to show it in a pictorial form, and i think we can bring this home to our colleagues so much with this next poster, mr. speaker, president obama would more than double the federal debt to $14.5 trillion work a

Phil Gingrey

2:09:49 to 2:10:09( Edit History Discussion )

Phil Gingrey: t, it took 43 presidents, here's their pictures 4rk3 presidents, 232 years to build up $5.8 trillion in publicly held federal debt. under president obama's proposed budget, over the ne six years, we're going to add

2:09:49 to 2:10:09( Edit History Discussion )

nice conflation

Phil Gingrey

2:10:10 to 2:10:20( Edit History Discussion )

Phil Gingrey: $8.7 trillion to that. these are staggering numbers and as the c.b.o. says, m speaker, unsustainable. i want to make sure my

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