House Proceeding 03-13-08 on Mar 13th, 2008 :: 0:18:35 to 0:23:54
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0:15:39 to 0:18:35( Edit History Discussion )
Speech By: Dennis J. Kucinich

0:18:23 to 0:18:35( Edit History Discussion )

Dennis J. Kucinich: rivetted to a war that's based on lies. bring those troops home. the progressive budget does it. stop the war, the progressive budget does it. take a new direction for our international policy,

0:18:35 to 0:18:45( Edit History Discussion )

Paul Ryan: the progressive budget does it. take care of things at home, the progressive budget does it. vote for the progressive budget. the chairman: the gentleman yields back the balance of his time.

0:18:35 to 0:23:54( Edit History Discussion )
Speech By: Paul Ryan

0:18:45 to 0:18:53( Edit History Discussion )

Paul Ryan: the gentleman from texas. mr. hensarling: yes, mr. chairman, at this time i will yield three minutes, again, to the distinguished ranking member of the budget committee, the gentleman from wisconsin.

0:18:53 to 0:19:04( Edit History Discussion )

Paul Ryan: the chairman: the gentleman is recognized for three minutes. mr. ryan: i thank the gentleman for yielding. and i thank the gentleman for all the work he's done on making fiscally secure

0:19:04 to 0:19:16( Edit History Discussion )

Paul Ryan: -- being fiscally responsible and bringing fiscal sanity to congress. he's one of the leaders. mr. chairman, the problem in washington is not we have too little tax money coming in. the

0:19:16 to 0:19:31( Edit History Discussion )

Paul Ryan: problem in washington is spending's too high. let me show you what this chart shows. it's a little complicated. the red line shows you the democrat's line of taxes. the other line is our

0:19:31 to 0:19:43( Edit History Discussion )

Paul Ryan: lower taxes. that's the difference of the marriage penalty, the child tax rate, dividends, the death taxes. the green line is the current spending trajectory that we are on. let me describe

0:19:43 to 0:19:59( Edit History Discussion )

Paul Ryan: what it looks like in just one program. as foreseen in the democratic budget. under the democratic budget, the medicare program today has an unfunded liability of $34 trillion. what does that mean

0:19:59 to 0:20:18( Edit History Discussion )

Paul Ryan: per household, per family? $300,000. right now every family in america would have to put in $300,000 just to make medicare secure. just to make medicare viable and solvent. under the democratic

0:20:18 to 0:20:30( Edit History Discussion )

Paul Ryan: budget they increase that debt by $11 trillion in just five years. this five-year budget says in five years, by the time their budget expires, it will be about $400,000 debt. let me explain what this

0:20:30 to 0:20:41( Edit History Discussion )

Paul Ryan: looks like across the board. that's just one program, them raising the debt by $11 trillion. this is the one that counts the most, mr. speaker. for the last 40 years, the federal government has

0:20:41 to 0:20:53( Edit History Discussion )

Paul Ryan: been pretty consistent in how much money it's had to tax to pay for the federal government. washington has had to tax about 18.3 cents on the dollar for every dollar made in america. about

0:20:53 to 0:21:02( Edit History Discussion )

Paul Ryan: 18.3 cents of a dollar made in america went to pay for washington. well, because of the baby boomers, because of the retirement, this isn't a democrat thing or a republican thing. it's just

0:21:02 to 0:21:14( Edit History Discussion )

Paul Ryan: what's happening in america. because we are doubling the amount of retireees we have in this country, we're going from 40 million retireees to 78 million retireees. and these programs are what

0:21:14 to 0:21:28( Edit History Discussion )

Paul Ryan: we call pay-as-you-go where current workers pay a current tax to finance the benefits for current beneficiaries. so i'm paying my payroll taxes and my income taxes for mom who is on medicare

0:21:28 to 0:21:39( Edit History Discussion )

Paul Ryan: and social security. that's the way the system works. and it works out well if you f have an equal ratio of workers and beneficiaries. but we don't. the reason we don't is because our birth rate's

0:21:39 to 0:21:54( Edit History Discussion )

Paul Ryan: declined after the baby boomer generation. there's nothing wrong or sinister about it. it is what it is. and so we're increasing our tax consuming generation, we're increasing the beneficiaries

0:21:54 to 0:22:07( Edit History Discussion )

Paul Ryan: by 100%, but we're only increasing the taxpayers by 17%. that in a nut shell is why we have this fiscal train wreck. that in a nut shell is why we're staring at these enormous debts in our

0:22:07 to 0:22:19( Edit History Discussion )

Paul Ryan: country's future. what does that mean to the future of our country? what does that mean for our children and our grandchildren? i'll tell you what it means to my three children. my son, sam, is 3.

0:22:19 to 0:22:31( Edit History Discussion )

Paul Ryan: my son charlie is 4. my daughter, liza, is 6. by the time my three children are exactly my age, and i'm not the oldest guy around here, by the time they are my age, they will have to pay twice

0:22:31 to 0:22:44( Edit History Discussion )

Paul Ryan: what we pay in taxes just to keep today's federal government going for them at that time. let me say it in a different way. instead of taking 18.3 cents out of every dollar made in america

0:22:44 to 0:22:57( Edit History Discussion )

Paul Ryan: today, when my three kids are my age -- i ask for an additional minute. when my three kids are my age, they're going to have to spend 40 cents on every dollar made in america just to pay the

0:22:57 to 0:23:10( Edit History Discussion )

Paul Ryan: bills to the federal government. mr. speaker, we have real competition that we have staring us in the face. we have competition from india, from china. the age of the global economy is here

0:23:10 to 0:23:21( Edit History Discussion )

Paul Ryan: with us whether we like it or not. it is here. you can't extend and give a prosperous nation a higher set of living to the next generation if we're doubling their taxes. if we say today it's

0:23:21 to 0:23:32( Edit History Discussion )

Paul Ryan: 18 cents on the dollar and tomorrow it's 40 cents on the dollar. you can't give our children and grandchildren a chance at a great career or a higher standard of living in this new competitive

0:23:32 to 0:23:44( Edit History Discussion )

Paul Ryan: living we are in. if we go down this path, we are going to give more and more jobs to china and india and other countries. so we say what we ought to do is do what our employers want us to

0:23:44 to 0:23:54( Edit History Discussion )

Paul Ryan: do. the people that send us here to congress want us to fix this problem. they want us to fulfill the mission of health and retirement security without bankrupting future generations and do it so

0:23:54 to 0:24:06( Edit History Discussion )

Sheila Jackson-Lee: we can stay competitive in the global economy, so we can pass a better future on to future generations. that's why this budget should be defeated. the chairman: the gentleman's time has expired.

0:23:54 to 0:28:49( Edit History Discussion )
Speech By: Sheila Jackson-Lee