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House Proceeding 07-22-09 on Jul 22nd, 2009 :: 0:59:40 to 1:06:50
Total video length: 2 hours 39 minutes Stream Tools: Stream Overview | Edit Time

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Jeb Hensarling

0:59:36 to 0:59:58( Edit History Discussion )

Jeb Hensarling: this is not a democratic or republican idea but a commonsense idea and all members should vote yes. and i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from wisconsin. mr. ryan: i yield to the the gentleman from texas, vice ranking member of the committee, the rest of our time. the speaker pro tempore: the gentleman from texas is

Jeb Hensarling

0:59:40 to 1:06:50( Edit History Discussion )
Speech By: Jeb Hensarling

Jeb Hensarling

0:59:59 to 1:00:19( Edit History Discussion )

Jeb Hensarling: recognized for 6 3/4 minutes. mr. hensarling: mr. speaker, it is a sad, sad day yet again on the house floor. i do want to add my voice, though, in agreement with some of my other colleagues talking about the bipartisan respect that we have for the chairman of the budget committee.

Jeb Hensarling

1:00:20 to 1:00:41( Edit History Discussion )

Jeb Hensarling: and i suppose it was because he has bipartisan respect as opposed to partisan respect that the speaker of the house decided to bypass him in the budget committee in bringing this legislation to the floor. perhaps it was an opportunity to actually enact commonsense legislation. unfortunaty, we'll never know that.

Jeb Hensarling

1:00:42 to 1:01:02( Edit History Discussion )

Jeb Hensarling: we'll never know that, mr. speaker. and so what i've heard is speaker after speaker on the democratic side of the aisle tell us that pay-go just means, quote, when you spend a dollar, you save a dollar. i believe i heard the distinguished chairman say that. and the president of the united

Jeb Hensarling

1:01:03 to 1:01:23( Edit History Discussion )

Jeb Hensarling: states in adding his support for this proposition said quote, congress can only spend a dollar if it safes a dollar elsewhere. mr. speaker, the use of the term pay-go suggests one thing. the practice of pay-go is something completely different.

Jeb Hensarling

1:01:24 to 1:01:44( Edit History Discussion )

Jeb Hensarling: this chart exactly what pay-go means in practice. these are the spending increases that were subject to so-called pay-go in the 2009 fiscal year. 2%. 2%, mr. speaker of all spending

Jeb Hensarling

1:01:45 to 1:02:07( Edit History Discussion )

Jeb Hensarling: was subject to pay-go, this commonsense proposal. i'm not sure it's common sense to the american peop to tell them that you are going to be fisc exempt 98% of all spending. i dot believe that's coon sense, mr. speaker. i don't believe it's common sense at all. and once again, what it tells us

Jeb Hensarling

1:02:08 to 1:02:28( Edit History Discussion )

Jeb Hensarling: is, we don't have a serious policy for fiscal responsibility or fiscal sanity. we have fiscal interim flam. we have a bumper sticker slogan that substitutes for a policy that needs to save our children and grandchildren from a sea of red ink.

Jeb Hensarling

1:02:29 to 1:02:49( Edit History Discussion )

Jeb Hensarling: all of this spending is either exempt or somehow pay-go gets magically waived. under this proposal, mr. speaker, nondefense discretionary spending is going to increase 9%. pay-go is not subject to it. overall discretionary spending increases 8%. pay-go doesn't apply to it.

Jeb Hensarling

1:02:50 to 1:03:10( Edit History Discussion )

Jeb Hensarling: all of our entitlement programs that are just exploding, exploding, mr. speaker. guess what? they are exempt as well. social security grows 5%, medicare grows 4.3%. so the slogan, the slogan doesn't match the policy. .

Jeb Hensarling

1:03:11 to 1:03:31( Edit History Discussion )

Jeb Hensarling: i have the greatest amount of respect for the distinguished chairman and for our president. but mr. speaker, if you were a private company selling a product called pay-go and you told the american people that it means, quote, when you spend a dollar, you safe a -- save a dollar, you'd get sued for false advertising.

Jeb Hensarling

1:03:32 to 1:03:53( Edit History Discussion )

Jeb Hensarling: you'd be fined for saying that. it is not a real policy. let's say it was a real policy. we know it's not, but what if it was. what if those who brought this legislation really designed legislation that did what it said it was going to do. unfortunately, under this

Jeb Hensarling

1:03:54 to 1:04:14( Edit History Discussion )

Jeb Hensarling: democratic congress, we know that spending is out of control by any standard known in the history of mankind. alrey, since the democrats have come to control the white house and congress, we've seen an administration sign into law a $1.1 trillion government stimulus plan, costing every

Jeb Hensarling

1:04:15 to 1:04:37( Edit History Discussion )

Jeb Hensarling: american household $9,810, including $10 million for urban canals and $100 million for a new after school lunch program, snack program. we've seen them pass a $410 billion omnibus bill, costing every american family $3,434, including $150,000 for lobster

Jeb Hensarling

1:04:38 to 1:04:58( Edit History Discussion )

Jeb Hensarling: research, $143,000 to develop and expand comprehensive online encyclopedia. we see them continue the cycle of bailouts. $13 billion for chrysler, $14 billion for g.m., $30 billion for a.i.g. and the list goes on.

Jeb Hensarling

1:04:59 to 1:05:21( Edit History Discussion )

Jeb Hensarling: what we have seen, mr. speaker, is now a budget that is going to increase, increase, the federal debt by a factor of three. it's going to triple -- triple -- the federal debt in 10 years. more federal debt in the next 10 years than in the previous

Jeb Hensarling

1:05:22 to 1:05:43( Edit History Discussion )

Jeb Hensarling: 220. that is out of control, so we say, ok, if you want to control this spending, or if you want to have pay as you go and you're unwilling to control the spending, mr. speaker that just leaves us with one other option. that is a 60% increase of income taxes on the american people. so either one, which is it?

Jeb Hensarling

1:05:44 to 1:06:05( Edit History Discussion )

Jeb Hensarling: is it false advertising or do you really want to increase income taxes on the american people by 60%? which is it? again, what's happened since we've had this vaunted pay-go? what's happened to deficits? i don't know how they managed to do it, mr. speaker, but in just two years under democratic control, we've seen the deficit

Jeb Hensarling

1:06:06 to 1:06:26( Edit History Discussion )

Jeb Hensarling: go from $161 billion to over $1 trillion. first time in our nation's history over $1 trillion, on its way to $1.8 trillion. that's already with having pay-go in place. before we get the statuty version. i can't imagine how much worse it's going to be once this gets enshrined. so again, you know, what this

Jeb Hensarling

1:06:27 to 1:06:47( Edit History Discussion )

Jeb Hensarling: is, is an effort to put a bumper sticker on a huge problem. it's the democrats going to the american people and saying, please stop us before we spend again. we just somehow, we just somehow can't control ourselves. this is supposed to be a band-aid on fiscal,

Jeb Hensarling

1:06:48 to 1:06:51( Edit History Discussion )

Jeb Hensarling: life-threatening wound. the american people deserve

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