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Video archive of the US Congress

House Proceeding 04-29-09 on Apr 29th, 2009 :: 2:27:45 to 2:29:39
Total video length: 5 hours 24 minutes Stream Tools: Stream Overview | Edit Time

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John R. Carter

2:27:41 to 2:28:01( Edit History Discussion )

John R. Carter: to that before we close tonight. i want to contrast that mentality with the mentality of what's been called the greatest generation, our parents, and what they did. judge carter. mr. carter: you said two consecutive quarters of 6% negative growth means, that means, and i know my friends talk about this all the time on

John R. Carter

2:27:45 to 2:29:39( Edit History Discussion )
Speech By: John R. Carter

John R. Carter

2:28:02 to 2:28:22( Edit History Discussion )

John R. Carter: the ways and means committee, that means recession two. consecutive quarters is the definition of recession system of we are now in the obama recession. so it's one of those things you've got to think about as we keep blaming other people. at some point in time you have to take credit for what happens on your watch. i heard two members arguing

John R. Carter

2:28:23 to 2:28:43( Edit History Discussion )

John R. Carter: today, interesting argument. how long is it going to take us to pay off this debt we're accumulating? one member said, it's estimated 3,000 years. the other one said, that's not right. it may be perpetuity. he said, how do you get that?

John R. Carter

2:28:44 to 2:29:04( Edit History Discussion )

John R. Carter: he only way to get the 3,000 year number is to show a surplus. there's no surplus projected within a couple of lifetimes. based upon what we're doing right now. so therefore, it's like this never-ending debt. another one said, that's like a ponzi scheme.

John R. Carter

2:29:05 to 2:29:25( Edit History Discussion )

John R. Carter: you take it out on -- you get one punch of investors to invest in your product, this is like our boy that's in jail right now, and then you get another bunch of investors and you pay these investors from these investors and you pay these investors from these investors, why isn't this a ponzi scheme? mr. akin 13k what do you do

John R. Carter

2:29:26 to 2:29:39( Edit History Discussion )

John R. Carter: when people do that? put them in jail? mr. carter: chast what we're supposed to be doing. we've got to wake up and see what we're creating. another generation pays for

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