Metavid

Video archive of the US Congress

House Proceeding on Jul 22nd, 2009 :: 0:45:45 to 0:56:20
Total video length: 1 hours 49 minutes Stream Tools: Stream Overview | Edit Time

Note: MetaVid video transcripts may contain inaccuracies, help us build a more perfect archive

Download OptionsEmbed Video

Views:315 Duration: 0:10:35 Discussion

Previous speech: Next speech:

David Dreier

0:45:42 to 0:46:02( Edit History Discussion )

David Dreier: abide by pay-as-you-go principles. this is the legislation that will make that a reality. as a member of the blue dog coalition, i have worked since being elected to congress to enact statutory pay-go and i urge my fellow colleagues to vote for this rule and h.r. 2920. and i reserve the balance of my

David Dreier

0:45:45 to 0:56:20( Edit History Discussion )
Speech By: David Dreier

David Dreier

0:46:03 to 0:46:25( Edit History Discussion )

David Dreier: time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from california. mr. dreier: thank you, mr. speaker. and let me begin expressing appreciation to my rules colleague for yielding me the customary 30 minutes and i yield myself such time as i may consume. mr. speaker, today is the 22 of july.

David Dreier

0:46:26 to 0:46:46( Edit History Discussion )

David Dreier: we're just over halfway through calendar year 2009 and the federal deficit has exceed $1 trillion, not with an m, b, but t. $1 trillion. so much money we can't even

David Dreier

0:46:47 to 0:47:07( Edit History Discussion )

David Dreier: fathom. i have spent a while here and i can't imagine $1 trillion. and it's the amount of money already that the federal government not has spent but the amount of money, mr. speaker, that the federal government has already overspent as we are

David Dreier

0:47:08 to 0:47:30( Edit History Discussion )

David Dreier: halfway through this year. at the rate that we're going, by the end of the year, by the end of the year, the deficit, the deficit will approach $2 trillion. now, mr. speaker, if you think about that, the amount that we have overspent, spent more than

David Dreier

0:47:31 to 0:47:52( Edit History Discussion )

David Dreier: what was actually taken in is actually based on this annual number, it quite possibly could be larger than the entire federal budget was just a decade ago. and the american people are paying attention. they're paying attention and they don't believe that such

David Dreier

0:47:53 to 0:48:13( Edit History Discussion )

David Dreier: irresponsible spending is ever justified, but they are particularly outraged that it's coming at a time when they are revamping their own budgets, cutting out every penny of waste

David Dreier

0:48:14 to 0:48:34( Edit History Discussion )

David Dreier: and saving every penny that they possibly can. our economic challenges have fundamentally changed america's budgeting habits. they are spending less and saving more and they are paying off their debts and they're asking themselves why is my government doing precisely the opposite? well, the american families are spending less, saving more and paying down their debts. we here in washington, d.c. are

David Dreier

0:48:35 to 0:48:56( Edit History Discussion )

David Dreier: doing the opposite, and they can't understand why that's continuing to happen. why is congress, during very difficult and challenging times spending trillions on bailouts, proposing new taxes that will burdenen our families even more anrack up so much debt that

David Dreier

0:49:18 to 0:49:38( Edit History Discussion )

David Dreier: and quite frankly, mr. speaker, as i go through the analysis of this, we will find and the american people are going to understand that this is simply dealing with the appearance of trying to be fiscally responsible. the leadership on the other side of the aisle wants to be able to send out a press release to say that they care about this $1

David Dreier

0:49:39 to 0:50:00( Edit History Discussion )

David Dreier: trillion deficit spending that's taking place in the last six months and they're doing something about it. unfortunately, rather than actually reigning in the deficit, what's happened? they've proposed a bill that will do nothing to restore any semblance of responsibility and accountability to the federal budget.

David Dreier

0:50:01 to 0:50:22( Edit History Discussion )

David Dreier: as any hard-working american knows living within our means during tough economic times is painful, but mr. speaker, it's not terribly complicated. you have to reduce your spending. it's very simple. the democratic leadership will say that the bill before us today requires congress to spend only what it can pay for, but

David Dreier

0:50:23 to 0:50:43( Edit History Discussion )

David Dreier: this claim is not terribly accurate. first of all, this bill does absolutely nothing to limit discretionary spending, which is 40% of the entire federal budget. let me say that again, mr. speaker. if you think about a family that has to reduce its eenses and

David Dreier

0:50:44 to 0:51:04( Edit History Discussion )

David Dreier: reign in their own personal spending, they don't have the luxury of saying, well, here's 40% that i will exempt and that's what is happening with this measure. this bill makes it virtually impossible for congress to implement tax reforms that will get our economy growing again

David Dreier

0:51:05 to 0:51:25( Edit History Discussion )

David Dreier: and increase federal revenues. if the democratic leadership were actually interested in reducing the deficit, they would simply implement spending caps, caps on spending. that's the y to do it. instead, they have merely produced a fig leaf of a bill, fig leaf so they can send out

David Dreier

0:51:26 to 0:51:47( Edit History Discussion )

David Dreier: the press release and go right on spending this country into object liveion, which is what has been happening. the proposal mandates tax increases while leaving discretionary spending completely unchecked. mr. speaker, this is not a theoretical discussion that i'm engaging in right now.

David Dreier

0:52:10 to 0:52:32( Edit History Discussion )

David Dreier: $162 billion, $162 billion in fiscal 2007 to this estimated $1.8 trillion, $1.8 trillion. from $162 billion in 2007 to $1.8 trillion. and that's just the deficit. that's a ten-fold increase and

David Dreier

0:52:33 to 0:52:53( Edit History Discussion )

David Dreier: it all happened under t democratic majority with these brilliant pay-go rules that have been put into place. this bill will not cut the deficit. this bill will not help restore our economy. and i will say, quite frankly, mr. speaker, i'm really concerned that some will believe

David Dreier

0:52:54 to 0:53:16( Edit History Discussion )

David Dreier: with passage of this bill, we have now addressed the problems and will lure many on the other side of the aisle to continue on the road that they have be going down for the past 2 1/2 years. the true purpose of this bill is a very, very unfortunate one. the first is to attempt to provide political cover for members who want to have it both

David Dreier

0:53:17 to 0:53:38( Edit History Discussion )

David Dreier: ways, carrying the mantle of fiscal responsibility while voting for trillion-dollar spending boone doingles. the second is to make meaningful tax reform impossible to implement. if we abide by the plan that was laid outn this bill, we cannot offer tax relief to a single

David Dreier

0:53:39 to 0:53:59( Edit History Discussion )

David Dreier: working american without raising taxes at the same time. this includes tax relief that has been proven to increase federal revenues. we won't be able to do that under this measure, mr. speaker. tax relief that has proven to increase dramatically, the flow of revenues to the federal treasury would not be allowed under this measure.

David Dreier

0:54:00 to 0:54:21( Edit History Discussion )

David Dreier: in 2003, we cut the capital gains tax rate by 5%, and guess what happened? capital gains tax revenues, revenues to the treasury where we cut the capital gains rate by 5%, doubled in a two-year per of time. now, this tax relief is set to expire this year.

David Dreier

0:54:22 to 0:54:44( Edit History Discussion )

David Dreier: and guess what? der this bill, we can't extend it without raising taxes. so if we double revenues by cutting the capital gains tax, it doesn't take a phd. if we raise taxes. this bill ties our hands and

David Dreier

0:54:45 to 0:55:05( Edit History Discussion )

David Dreier: fails to implement strict guidelines where accountability is desperately needed. even the democratic leadership doesn't take this bill very seriously, adding in five pages of exemptions to an already responsibility. i find it interesting that they

David Dreier

0:55:06 to 0:55:26( Edit History Discussion )

David Dreier: would even bother with these exemptions consider they waive their own pay-go rules all the time. in the last congress, they wved these rules to allow legislation to increase the defendant by $420 billion. they use gimmicks to get around

David Dreier

0:55:27 to 0:55:47( Edit History Discussion )

David Dreier: their own budget rules which comes as no surprise that we have already passed the $1 trillion deficit spending mark here on july 22. mr. speaker, i urge my colleagues don't be fooled by what is clearly an attempt to cover up the worst spending

David Dreier

0:55:48 to 0:56:09( Edit History Discussion )

David Dreier: pattern that we have seen in the history of the united states of america. the american people are figuring this out. they know what it takes to make ends meet and they know that while they are reigning in their spending and dealing with the economic challenges that they're

David Dreier

0:56:10 to 0:56:20( Edit History Discussion )

David Dreier: facing at this time, they know that we are moving in the otch sit direction. reject this -- opposite direction. reject this rule.

Personal tools

MetaVid is a non-profit project of UC Santa Cruz and the Sunlight Foundation. Learn more About MetaVid

The C-SPAN logo and other servicemarks that may be found in video content are the property of their respective trademark holders. None of these trademark holders are affiliated with Metavid