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Senate Proceeding 03-31-09 on Mar 31st, 2009 :: 2:36:35 to 2:47:45
Total video length: 6 hours 23 minutes Stream Tools: Stream Overview | Edit Time

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Jeff Sessions

2:36:35 to 2:36:56( Edit History Discussion )

Jeff Sessions: they passed their budget. so if we go to conference with this bill the senate will be at 7, the house will be at 11 or 12 and i spend well be at a budget that spends about 10% more and

Jeff Sessions

2:36:35 to 2:47:45( Edit History Discussion )
Speech By: Jeff Sessions

Jeff Sessions

2:36:57 to 2:37:17( Edit History Discussion )

Jeff Sessions: at 11.5% increase years, dou you know the rule of seven: you have 7% on your money and in 10 years it doubles. so here we are talki about a rate of increase that will double nondefense discretionary spending in 10 years probably considerably less than that.

Jeff Sessions

2:37:18 to 2:37:38( Edit History Discussion )

Jeff Sessions: and that's why the baseline funding is i'd have to note -- in all frankness our senate budgets less, less honest -- i'll just use that word for lack of a

Jeff Sessions

2:37:39 to 2:37:59( Edit History Discussion )

Jeff Sessions: better one -- than the president's. the president scored the full cost of fixing the alternative minimum tax which i think will be close to $1 tllion. over 10 years. he says till be about $660 billion. the president also scored the cost of fixing our doctors' medical payments that if we don't put money in will drop

Jeff Sessions

2:38:00 to 2:38:18( Edit History Discussion )

Jeff Sessions: down 20%. our senate budget doesn't fix so that's how they maybe make the numbers look a little bit better. but i just want to say these numbers are huge. all right.

Jeff Sessions

2:38:27 to 2:38:47( Edit History Discussion )

Jeff Sessions: so during this time madam president, what is the status of our time? the presiding officer: you have approximately 9 minutes a seconds remaining. excuse me. excuse me, you have used 9 minutes and 27 seconds. mr. sessions: i would like to be notified when i have six minutes remaing.

Jeff Sessions

2:38:48 to 2:39:08( Edit History Discussion )

Jeff Sessions: the presiding officer: the chair will so notify. mr. sessions: so, madam president, this is a da in. and i want to say a couple of things. the surging of debt and interest payment is not due to an

Jeff Sessions

2:39:09 to 2:39:29( Edit History Discussion )

Jeff Sessions: expectation by the senate or the president that wll be in a recession or in an economic slow. in two years, this is the only year they're scoring us as having negative growth. the president expects next yea three years of plus 4% growth, which is robust growth.

Jeff Sessions

2:39:30 to 2:39:51( Edit History Discussion )

Jeff Sessions: those are the kind of numbers that -- that president reagan and president clinton had in their best years. so that's not why we're going deeper and deeper in debt with a trillion-dollar one-year debt in the 10th spending. states are facin cris. this year the states are

Jeff Sessions

2:39:52 to 2:40:14( Edit History Discussion )

Jeff Sessions: expected to reduc spending by 4.1%. are they going to disappear from the face of the earth? no, they're making some tough decisions, they're wrestling with costs, fraud, accountability, efficiency, productivity. and we need to be instead of just throwing money at this problem.

Jeff Sessions

2:40:15 to 2:40:36( Edit History Discussion )

Jeff Sessions: so i would suggest that with the huge surge of stimulus funding, we ought to keep theaseline level for twoears. of money, 20% at least more discretionary money in the first

Jeff Sessions

2:40:37 to 2:40:57( Edit History Discussion )

Jeff Sessions: two -- three years than we wil will -- than would otherwise have happened because of the stimulus money pouring into the. so i suggest we could achieve a really s in our long-term fiscal situation by saying time of stimulus spending, we'll have a two-year freeze and then we'll go up to a one-year increase.

Jeff Sessions

2:40:58 to 2:41:18( Edit History Discussion )

Jeff Sessions: and flat spending does not require us to savage anybody's budget. the power is given to our appropriators to work out exactly how. some programs might take more than others. others could still get an increase. but fundamentally, we need to se we're going to have a budget that actually contains baseline

Jeff Sessions

2:41:19 to 2:41:42( Edit History Discussion )

Jeff Sessions: spending. and it will save $226 billion project that it would save at least that much in the second five, maybe more. because the baseline of our budget would not have gone up so

Jeff Sessions

2:41:43 to 2:42:05( Edit History Discussion )

Jeff Sessions: much so what about this that -- on the increasing debt it amounts to today, in 2009, every household paying to the federal government $1,435 just

Jeff Sessions

2:42:06 to 2:42:28( Edit History Discussion )

Jeff Sessions: to pay t $170 billion in debt. that number in five years, 2014, will increase to $3,433 per househ debt -- interest on the debt. not the debt. that's not the debt. it's just the interest on the debt.

Jeff Sessions

2:42:29 to 2:42:50( Edit History Discussion )

Jeff Sessions: and with interest rate increasing, as we expect unfortunately they're going to be doing with this inflationary budget, the number may well be twice that in ten years. that is an unsustainable path. i propose that we take this step. it's a rational step in light of

Jeff Sessions

2:42:51 to 2:43:15( Edit History Discussion )

Jeff Sessions: the huge stimulus package we just passed, without any incutting of any total expenditures but really an unprecedented increase in expenditures would still occur with fla for two years and a 1% ars. i really think that this is a rational and -- approach that we

Jeff Sessions

2:43:16 to 2:43:36( Edit History Discussion )

Jeff Sessions: could be proud of yesterday the "wall street journal" noted that nations united states and the united kingdom will be tempted to use inflation to pay their massive debts. households in the united states are the world

Jeff Sessions

2:43:37 to 2:43:57( Edit History Discussion )

Jeff Sessions: people on fixed incomes would be most hurt by inflation -- inflationary rates. other nation might also continue to debt creating more nations seeking borrow money and more money; therefore, having to raise

Jeff Sessions

2:43:58 to 2:44:20( Edit History Discussion )

Jeff Sessions: interest rates to get people to buy their debt, which could mean that the we would be paying 5.5% on our treasury bills and our debt would probably be lower. in fact, it would be much

Jeff Sessions

2:44:21 to 2:44:42( Edit History Discussion )

Jeff Sessions: indeed, the "wall street journal." he's at harvard. he was the international monetary he predicted -- hold your hat, this is something, really news -- he predicted that inflation in the united states could hit 8% to 10% in the next

Jeff Sessions

2:44:43 to 2:45:04( Edit History Discussion )

Jeff Sessions: three to five years all because of this incredible spending spree that we are on. let me tell this -- let me say this to my colleagues. this country is going to come out of this economic problem. we don't have to irresponsibly now.

Jeff Sessions

2:45:05 to 2:45:26( Edit History Discussion )

Jeff Sessions: we've already spent an the stimulus package. our baseline budget needs to start getti least calling on us to challenge us to get more for less in the federal government. the best way the united government can help the american people is to use every dollar our

Jeff Sessions

2:45:27 to 2:45:52( Edit History Discussion )

Jeff Sessions: government gets wisely the best possible return for it. you will not get that kind of return when -- the presiding officer: you have six minutes remaining. mr. sessions: you will not get that kind of return throwing money as rapidly as we're throwing at in fact, i think it's a general acknowledgment that the surge in spending under the stimulus

Jeff Sessions

2:45:53 to 2:46:16( Edit History Discussion )

Jeff Sessions: package and, plus, a 7%, 8%, 12% increase in general spending will throw so much money so fast that ourhairman -- our presiding officer, who doesn't like waste, fraud and abuse, is going to have a lot to do to watch out for it because like her, we've been prosecutors and we know you've got

Jeff Sessions

2:46:17 to 2:46:37( Edit History Discussion )

Jeff Sessions: spending money unwisely. so i believe the issues we're talking today are insignificant. they represent the direction the president of the united states wants this country to go, which is huge spending without compensating cuts or without --

Jeff Sessions

2:46:38 to 2:46:58( Edit History Discussion )

Jeff Sessions: or with tax increases but not enough to cover it, and that this is an unsustainable this amendment would be a significant step in the right direction. with the stimulus package that's already been passed in year, we will still have sizable increases in -- in discretionary

Jeff Sessions

2:46:59 to 2:47:22( Edit History Discussion )

Jeff Sessions: spending across the board and can sustain it able to carry on all the requirements of our government without having to spend this much of our children's money. and maybe we can stop having to

Jeff Sessions

2:47:23 to 2:47:44( Edit History Discussion )

Jeff Sessions: pay interest when our education budget is $100 billion a year, our high $40 billion a year, the education budget andhe state general fund budget in alabama for the teachers and the highways governor and the legislature, all of that's less than $10 billion a year and we're

Jeff Sessions

2:47:45 to 2:47:46( Edit History Discussion )

Jeff Sessions: talking

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