House Proceeding 07-23-09 on Jul 23rd, 2009 :: 2:19:40 to 2:22:10
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2:19:37 to 2:19:57( Edit History Discussion )

John W. Olver: creating jobs and sick of it and fed up. if you want to make a mark in this congress, give the american people their money back and with that, i yield back. the chair: the gentleman yields back the balance of his time.. the gentleman from massachusetts. mr. olver: how much time do i have? the chair: 3 1/2 minutes. mr. olver: the gentleman has

2:19:40 to 2:22:10( Edit History Discussion )
Speech By: John W. Olver

2:19:58 to 2:20:21( Edit History Discussion )

John W. Olver: just made an argument and continues to make an argument about the level of debt. you know, in 1980 when president carter left office, the national debt of the country was about $1 trillion. twelf years later, the debt of

2:20:22 to 2:20:42( Edit History Discussion )

John W. Olver: e country had reached $4 trillion, it had quadrupled in those 12 years. in the following eight years, that wentp again by another $

2:20:43 to 2:21:04( Edit History Discussion )

John W. Olver: 1,400,000. by the end of president clinton's term, the debt had gone up 1/3 more, just slightly more than 1/3 more. then during the presidency of the previous president, we saw the debt go fl $5.4 trillion to

2:21:05 to 2:21:26( Edit History Discussion )

John W. Olver: $10.5 trillion as he left office, so then it went up almost double in just an eight-year period. now there's concern after we have been in more than a year now of a recession, the first five quarters of which were

2:21:27 to 2:21:48( Edit History Discussion )

John W. Olver: clearly in the previous administration with the housing cris, with a recession that had started, a deep recession, with severe losses of jobs throughout the last year. they're continuing. this is a deep recession.

2:21:49 to 2:22:12( Edit History Discussion )

John W. Olver: but we shouldn't be putting our most vulnerable people through this action. this is the wrong action to take. and we will grow out of this over time. i urge amendment. mr. neugebauer: will the gentleman yield? mr. olver: i will not yield. mr. neugebauer: i have an answer to your question. the deficit that this administration is going to run