House Proceeding on Jul 22nd, 2009 :: 1:15:05 to 1:16:30
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1:15:02 to 1:15:22( Edit History Discussion )

Henry Cuellar: that any longer under is so-called pay-go provision? and i'd be happy to yield to my friend if he'd like to respond. mr. cuellar: sure. and, again, thank you very, very much. again, i appreciate the comments of the gentleman from california, a good friend mine. we have to first -- to answer this question we have to look at history. when pay-go was implemented back in the 1990's, it expired

1:15:05 to 1:16:30( Edit History Discussion )
Speech By: Henry Cuellar

1:15:23 to 1:15:43( Edit History Discussion )

Henry Cuellar: in 2002. the majority at that time decided not to put it back again or reimplement it. . we saw from the history there was a surplus and part of the reason was we had a statutory pay-as-you-go provision.

1:15:44 to 1:16:05( Edit History Discussion )

Henry Cuellar: when this expired in 2002, you saw that the defendant and again this deficit that you are talking about and i'm concerned about it as your but the deficit didn't occur on january 20 of this year, but something that has been happening for the last four, five years. i know we have some differences, but i hope we can get both the

1:16:06 to 1:16:28( Edit History Discussion )

Henry Cuellar: democrats and republicans on both sides of the aisle to work together and come up with a way to stop this deficit. because as you well know, look this is what we have. we have over $11 trillion in debt that we have right now. % of that is owned by foreign countries. and the gentleman from california, if you had a business, imagine what would

1:16:29 to 1:16:30( Edit History Discussion )

Henry Cuellar: happen if you woke up and your