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House Proceeding 12-16-09 on Dec 16th, 2009 :: 0:29:20 to 0:36:00
Total video length: 1 hours 6 minutes Stream Tools: Stream Overview | Edit Time

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John S. Tanner

0:29:17 to 0:29:37( Edit History Discussion )

John S. Tanner: after going on a $1.4 trillion deficit spending binge and maxing out the taxpayers' credit card, democrats are now asking to increase the credit limit. we should not be asking for more credit. we should be developing a plan to control federal spending that future- so that future generations are not trapped under this mountain of debt.

John S. Tanner

0:29:20 to 0:36:00( Edit History Discussion )
Speech By: John S. Tanner

John S. Tanner

0:29:38 to 0:29:58( Edit History Discussion )

John S. Tanner: until we see a plan to actually address this underlying problem, as then senator obama warned, we must, and can i not in good conscience, vote for this legisla i urge my colleagues to vote i reserve the balance of my time. -- i yield back the balance of my time. the speaker pro tempore: the gentleman fromevadreserves. the gentleman from massachusetts virginia tech. mr. neal: thank you, madam speaker. madam speaker, athis time i would like to yield four minutes to my friend, the

John S. Tanner

0:29:59 to 0:30:20( Edit History Discussion )

John S. Tanner: gentleman from tennessee, who was my classmate here, 21 years ago, and who is in my judg been as thoughtful as any member of this house on the issues of the national debt. the speaker pro tempore: the chair recognizes the gentleman from tennessee for four minutes. mr. tann much, madam speaker. thank you, mr. neal. what we are seeing today is a

John S. Tanner

0:30:21 to 0:30:41( Edit History Discussion )

John S. Tanner: culmination of a decades long -- decade long mismanagement of our nation's finances. in the year 2000, the revenue and expenditure coming to washington were bothround 19% of g.d.p. in othewords, we were breaking the second worse thing that happened in 2001 after of course 9/11 happened in

John S. Tanner

0:30:42 to 0:31:02( Edit History Discussion )

John S. Tanner: february when the congressional budget office said that forecast there would be a $5 trillion surplus over the next years. people aro euphoric. we're filthy rich. we can cut taxes. we can do everything. and we are going to be fine. in fact, the first bush secretary of the treasury came

John S. Tanner

0:31:03 to 0:31:24( Edit History Discussion )

John S. Tanner: before the ways and means committee and said he was concerned we would pay off the national debt so quickly that we would have to pay a premium to get our paper back. well, in june of 2001 we embarked on a new economic game plan for this country. 2 1/2 months later, 9/11. every assumption that went into

John S. Tanner

0:31:25 to 0:31:45( Edit History Discussion )

John S. Tanner: the conclusion there would be a $5 trillion surplus over the next 10 years was no longer vali but what did congress do? kept right on going. by 2003, if you look at the treasury record, by 2003 income coming into washington was down to

John S. Tanner

0:31:46 to 0:32:06( Edit History Discussion )

John S. Tanner: expenditures were over 20% because we had gone to war in afghanistan and iraq, among other reasons. what we do, we borrowed the gap. we started borrowing in 2002, 2003, 2004, 2005. a ecade-long mismanagement by both parties.

John S. Tanner

0:32:29 to 0:32:50( Edit History Discussion )

John S. Tanner: 2002 so that you didn't have to pay for anything. you could just blindly pass tax cuts, increase spending, and borrow the difference because you know something, the people we are borrowing it from aren't here. they don't have a vote. however one time they said will you vote for a supermajority to i sa there's plenty of pressure in the system not to raise taxes.

John S. Tanner

0:32:51 to 0:33:12( Edit History Discussion )

John S. Tanner: i will vote not to borrow money, because there's nobody here protesting what doing to the children of this country and the children yet to be born here. so, madam speaker, we have to -- this is the response thing to do today, but i tell you, when we come back, t

John S. Tanner

0:33:13 to 0:33:33( Edit History Discussion )

John S. Tanner: very short term, i think 60 days, when we comeback, we are -- we've got to insist on a commission, or statutory pay-go, on something to break this business as usual gridlock that's been goin entire decade.

John S. Tanner

0:33:34 to 0:33:54( Edit History Discussion )

John S. Tanner: 8 honestly that it has -- it is not a decade old problem. the basically was the fiscal year 2 000 -- 2001. so we have to do we get back here, when the final chapter is written of

John S. Tanner

0:33:55 to 0:34:15( Edit History Discussion )

John S. Tanner: this book, i hope we have the ability to come together and we need the help. we need the help of the republicans to help us put statutory pay-go and some of these thingshat will do it. it's not -- the problem is not what we are doing. we have a structural deficit.

John S. Tanner

0:34:16 to 0:34:37( Edit History Discussion )

John S. Tanner: income right now is about of expenditures are over 20. thank you. the speaker pro tempore: the gentleman from tenssee is recognized. mr. tanner: when one considers that social security, medicare, medicaid, and the national defense account for 85 cents out of every dollar, you can't cut

John S. Tanner

0:34:38 to 0:34:58( Edit History Discussion )

John S. Tanner: enough out of the 15% to take care of this problem. it's not what we are doing. it's not what we are sp it's what we are not doing. that is we are not addressing the structural deficit. and the only way we are going to get at that is through either statutory pay-go or anonymity commission and hopefully both.

John S. Tanner

0:34:59 to 0:35:20( Edit History Discussion )

John S. Tanner: it's not what we are doing, it's what we are not doing. and it is a decade-old problem that is getting worse every year. and until this congress can come together, democrats and republicans, what we have around here is too many republican americans or too many democratic americans instead of american democrats and american republicans.

John S. Tanner

0:35:21 to 0:35:43( Edit History Discussion )

John S. Tanner: i'm telling you the time is now for american democrats and american republicans to get together over the next 60 days and figure out what we are going to do because we are on an course. thank you, mr. neal. th gentleman from massachusetts reserves. the gentleman from nevada is recognized. mr. heller: thank you, madam speaker.

John S. Tanner

0:35:44 to 0:36:00( Edit History Discussion )

John S. Tanner: i yield 1 1/2 minutes to the gentleman from texa colleague of mine on ways and means, mr. brady. the speaker proempore: the gentleman from texas is recognized for 1/2 minutes. speaker. it is interesting to hear our democrat friend's newfound

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