Metavid

Video archive of the US Congress

Senate Proceeding on Nov 17th, 2010 :: 1:02:10 to 1:09:05
Total video length: 3 hours 5 minutes Stream Tools: Stream Overview | Edit Time

Note: MetaVid video transcripts may contain inaccuracies, help us build a more perfect archive

Download OptionsEmbed Video

Views:113 Duration: 0:06:55 Discussion

Previous speech: Next speech:

John Cornyn

1:02:06 to 1:02:26( Edit History Discussion )

John Cornyn: and not to the 18th century. mr. president, i yield the floor. the presiding officer: the senator from texas is recognized. mr. president. mr. president, i'd like to briefly draw attention to a resolution that the conference of republican senators and senators-elect adopted yesterday, one that i think fits

John Cornyn

1:02:10 to 1:09:05( Edit History Discussion )
Speech By: John Cornyn

John Cornyn

1:02:27 to 1:02:49( Edit History Discussion )

John Cornyn: the times that we are living in, one which has seen historic levels of federal spending and debt and deficits as well as unsustainable debt that will be inherited by our children and grandchildren unless we take responsibility for it. and this resolution i think

John Cornyn

1:02:50 to 1:03:11( Edit History Discussion )

John Cornyn: would demonstrate the serious seriousness that we would have as a congress to get our nation's fiscal house in order. this resolution reads, "it is resolved by the united states senate republican conference that a balanced budget amendment to the united states constitution is necessary to restore fiscal discipline to our republicment, that a balanced budget amendment should require

John Cornyn

1:03:12 to 1:03:32( Edit History Discussion )

John Cornyn: the president to submit to congress a proposed budget prior to each fiscal year in which total federal spending does not exceed total federal revenue, that a balanced budget amendment should include a requirement that a supermajority of the both houses of congress be necessary to increase taxes, and that a

John Cornyn

1:03:33 to 1:03:54( Edit History Discussion )

John Cornyn: balanced budget amendment should include a limitation on total federal government spending." mr. president, i want to thank the 20 republican senators and senators-elect who cosponsored this resolution and the members of the conference who voted to adopt t but let plea just share waw few fact oids that i think

John Cornyn

1:03:55 to 1:04:16( Edit History Discussion )

John Cornyn: -- factoids that i think will demonstrate the compelling nature of this joint resolution and constitutional amendment. in fiscal year 2010, our deficit was $1.3 trillion or 8.9% of the gross domestic product. that's actually down from 9.9%

John Cornyn

1:04:17 to 1:04:38( Edit History Discussion )

John Cornyn: in fiscal year 2009 but certainly nothing to celebrate. 8.9% of gross domestic product. the congressional budget office baseline estimates that federal deficits will average $605 billion each year through 2010, and the budget that the president submitted to us last

John Cornyn

1:04:39 to 1:04:59( Edit History Discussion )

John Cornyn: year itself, if implemented, would call for $1 trillion of deficit each year for the next ten years. we know that the budget act passed by congress, signed by the president, requires the president of the united states to submit his budget by the first monday in february. and i can tell you that i'm

John Cornyn

1:05:00 to 1:05:20( Edit History Discussion )

John Cornyn: anxiously waiting to see if n. that budget proposal submitted by the president by the first monday in february his commitment to fiscal discipline, now particularly since the american people have spoken so loudly and so clearly about their concerns over reckless spending and endless debt. we know that a balanced budget

John Cornyn

1:05:21 to 1:05:44( Edit History Discussion )

John Cornyn: amendment actually works because virtually every state in the nation has one, including my state of texas. only the federal government -- only the federal government -- has really no requirement of a balanced budget and can spend huge deficits, borrowed money it does not have.

John Cornyn

1:05:45 to 1:06:05( Edit History Discussion )

John Cornyn: no family in america, no small business, when income goes down, can continue to spend at the same level. they have to live within their means, and so should the united states government. we also know that a balanced budget amendment is popular with the public. a recent poll of florida voters

John Cornyn

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

John Cornyn: showed 71% approved aof a nonbinding resolution supporting a balanced budget amendment. and we've actually had votes in the united states senate on this not that long ago. well, it was 1997. i will leat you judge whether that was long ago or not. actually at the time 66 senators voted in favor of a balanced

John Cornyn

1:06:27 to 1:06:49( Edit History Discussion )

John Cornyn: budget amendme shy of the two-thirds necessary, including 11 colleagues on the other side of the aisle demonstrating support for a balanced budget amendment. but, mr. president, it is important to note at that time when 66 senators voted 0en a bipartisan basis for a balanced budget amendment the deficit was only 1.4% of gross domestic product.

John Cornyn

1:06:50 to 1:07:10( Edit History Discussion )

John Cornyn: today i.9%. i think if a balanced budget amendment was a good idea, at least in the minds of 66 senators in 1997, it is an even better idea today. so i hope colleagues on both sides of the aisle will join with me, and i with them, to

John Cornyn

1:07:11 to 1:07:32( Edit History Discussion )

John Cornyn: offer ideas on drafting of this joint resolution. of course, as you know, under article 5 of the constitution of the united states, a constitutional amendment can emanate from congress itself with two-thirds vote or it can be the result after constitutional convention. under either circumstance, three-quarters of the states would be necessary to ratify t

John Cornyn

1:07:33 to 1:07:53( Edit History Discussion )

John Cornyn: but i think if republicans and democrats can listening to the voice of the american people and get behind a joingts resolution, it will restore some of the public's lost confidence in our ability, in our willingness both to heed their voice but also to live up to our responsibilities. i think a balanced budget amendment would be a big step

John Cornyn

1:07:54 to 1:08:15( Edit History Discussion )

John Cornyn: forward in the cause of fiscal discipline but of course not the only step. as the cochairs of the president's debt commission have already indicated, we need other measures, like they called for -- one that caught my eye -- an intervent committee charged with cutting waste and tarkting investment they noticed actually

John Cornyn

1:08:16 to 1:08:36( Edit History Discussion )

John Cornyn: a good example at the state level in my state of texas where we have a sunset commission which requires every ten years for every state agency to go through a process to determine whether the programs and the agency itself continues to have good reason to exist at the spending levels authorized. we need something like that

John Cornyn

1:08:37 to 1:08:58( Edit History Discussion )

John Cornyn: which will provide tremendous ability for us to have additional tools to contain cost and to avoid wasteful spending. to that end, i've introduced the model of the bill in the model of the texas sunset commission called the united states authorization and sunset commission act, and i urge my colleagues to take a look at

John Cornyn

1:08:59 to 1:09:05( Edit History Discussion )

John Cornyn: that, as i can ashire you that come -- as i can assure that you come january when we have a new congress i will reoffer that

Personal tools

MetaVid is a non-profit project of UC Santa Cruz and the Sunlight Foundation. Learn more About MetaVid

The C-SPAN logo and other servicemarks that may be found in video content are the property of their respective trademark holders. None of these trademark holders are affiliated with Metavid