House Proceeding 07-22-09 on Jul 22nd, 2009 :: 1:58:45 to 2:01:00
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1:58:43 to 1:59:03( Edit History Discussion )

Earl Pomeroy: is the credibility deficit that fiscal responsibility. the speaker pro tempore: the gentleman's time has expired. the gentleman from south carolina. mr. spratt: i yield two minutes to the the gentleman from north dakota, mr. pomeroy. the speaker pro tempore: the gentleman is recognized for two mr. pomeroy: i follow a member

1:58:45 to 2:01:00( Edit History Discussion )
Speech By: Earl Pomeroy

1:59:04 to 1:59:24( Edit History Discussion )

Earl Pomeroy: of the republican party who just said that the democrats have a credibility problem on budget. i would remind theentleman that it was, indeed, under republican control of this chamber and the senate chamber

1:59:25 to 1:59:45( Edit History Discussion )

Earl Pomeroy: and the executive branch that pay-as-you-go discipline on budget deficits was ended. why did they end? because they had no intention of living within their mens. don't take my word for it. look at the record. national debt tripled, percentage of the national debt

1:59:46 to 2:00:07( Edit History Discussion )

Earl Pomeroy: we had to borrow from other countries, tripled. national debt doubled, percentage financed by other countries, tripled. that's the record of the minority party. in fact, i believe it's that record that got them from the

2:00:08 to 2:00:32( Edit History Discussion )

Earl Pomeroy: majority to the minority. you might think that given the economic crisis that their very fiscal policies helped bring about, we would have the opportunity to work together in a bipartisan fashion to put in place this foundation of fiscal responsibility, pay as you go. it has happened before.

2:00:33 to 2:00:54( Edit History Discussion )

Earl Pomeroy: in 1991, president george h.w. bush, convened a budget summit. he was concerned about deficits, deficits much smaller than what president obama inherited from his predecessor. they agreed across the party aisle to install pay-as-you-go. in 1993, i was a member of this body when we passed it on a party-line vote.

2:00:55 to 2:01:00( Edit History Discussion )

Earl Pomeroy: in 1997, that pay-as-you-go budget discipline was enshrined in a bipartisan budget agreement and continued for another five