OFFICE OF THE MAJORITY LEADER

TRANSCRIPT

Statement on the 2009 Budget
June 5, 2008

MR. SPRATT: I YIELD A MINUTE TO THE DISTINGUISHED MAJORITY LEADER, MR. HOYER. THE SPEAKER PRO TEMPORE: THE GENTLEMAN FROM MARYLAND, THE MAJORITY LEADER, IS RECOGNIZED. MR. HOYER: I ALWAYS THINK MY FRIEND FROM ARIZONA IS SO RATIONAL AND I THOUGHT HE WAS TODAY. I ALWAYS APPRECIATE HIS REMARKS. IT IS A SHAME THAT TOGETHER WE HAVE NOT REACHED WHAT I THINK WE NEED TO REACH WHETHER IT'S ON ENTITLEMENTS, WHICH ARE OBVIOUSLY AN EXTRAORDINARY CHALLENGE, OR ON DISCRETIONARY SPENDING, OR ON TAXES. ON REVENUES, ON PAYING FOR WHAT WE BUY. THE FLOWER STREWN PATH UNPRICKED BY REASON. 19 YEARS REPUBLICAN PRESIDENTS DURING MY TERM OF -- IN THE CONGRESS OF THE UNITED STATES, HAVE PRESIDED. THE ONE PERSON IN THE UNITED STATES OF AMERICA THAT CAN STOP SPENDING IN ITS TRACKS. THE ONLY PERSON. 19 YEARS OF REPUBLICAN PRESIDENTS, $4.13 TRILLION OF DEFICIT SPENDING. $1.68 TRILLION OF THAT HAS BEEN IN THE LAST SIX YEARS. EIGHT YEARS UNDER BILL CLINTON. $62.9 BILLION SURPLUS. THAT'S THE 27 YEARS THAT I HAVE BEEN IN THE CONGRESS OF THE UNITED STATES. NOW, YOU CAN ATTRIBUTE THAT TO ALL SORTS OF THINGS, BUT I ATTRIBUTE IT TO THE FACT THAT DEMOCRATS HAVE TAKEN THE POSITION WE OUGHT TO PAY FOR WHAT WE BUY. WE OUGHT TO HAVE RESPONSIBLE BUDGETS. THE REPUBLICANS HAVE NOT PASSED A BUDGET EXCEPT FOR ONCE IN AN ELECTION YEAR. IF WE PASS THIS ONE, I SURELY I HOPE WE WILL, IT WILL BE A PRECEDENT. MR. SPEAKER, I WANT TO CONGRATULATE THE CHAIRMAN OF THE BUDGET COMMITTEE, JOHN SPRATT, ALSO WANT TO CONGRATULATE THE RANKING MEMBER WHO I DON'T SEE ON THE FLOOR BUT WHO IS A RESPONSIBLE MEMBER OF THIS BODY. I DISAGREE WITH HIM ON SOME THINGS, BUT HE ENGAGES THE DEBATE IN A RESPONSIBLE WAY. I WANT TO THANK THE MEMBERS OF THE BLUE DOG COALITION AS WELL FOR THEIR WORK. PATIENCE AND COMMITMENT TO PASSING THIS BUDGET CONFERENCE REPORT. THIS IS THE FIRST BUDGET ADOPTED IN AN ELECTION YEAR SINCE 2000. THE LAST TIME WE WERE BEFORE THIS ADMINISTRATION. AND IT IS A SIGNAL ACCOMPLISHMENT OF THIS CONGRESS AND A DEMONSTRATION OF OUR ABILITY TO GOVERN EFFECTIVELY. THIS CONFERENCE REPORT IS A CONTINUATION OF THE DEMOCRATIC MAJORITY'S EFFORT TO TURN AWAY FROM THIS ADMINISTRATION'S FAILED POLICIES. IN FACT, THE MOST RECKLESS FISCAL POLICIES IN THE HISTORY OF OUR NATION. AS THE FATHER OF THREE GRANDCHILDREN AND AS THE GRANDFATHER OF A GREAT GRANDCHILD, I AM EXTRAORDINARILY CONCERNED ABOUT THAT. WE HAVE TWO YOUNG WOMEN SITTING NEXT TO MY COLLEAGUE AND FRIEND, CONGRESSMAN ROGERS, DON'T KNOW WHETHER THEY ARE GRANDCHILDREN. THEY ARE GRANDCHILDREN. WE HAVE PUT THOSE YOUNG CHILDREN WHO SIT HERE, THESE BEAUTIFUL YOUNG WOMEN, DEEPLY INTO DEBT. THIS BUDGET IS ABOUT KEEPING THEM OUT OF FURTHER DEBT. LET'S REMEMBER PRESIDENT BUSH AND THE FORMER REPUBLICAN MAJORITIES IN CONGRESS TURNED A PROJECTED SURPLUS OF $5.6 TRILLION -- WAS THAT A REAL SURPLUS? IT WAS NOT. IT WAS A PROJECTION FOR 10 YEARS. NOBLE KNOWS WHAT'S GOING TO HAPPEN IN 10 YEARS. BUT IT WAS A PROJECTED SURPLUS OF $5.6 TRILLION ON WHICH THE BUSH ADMINISTRATION RELIED. AND IN RELIANCE ON IT DID SOME THINGS THAT WERE EXTRAORDINARILY IRRESPONSIBLE. AND WE ARE NOW MORE THAN $3 TRILLION IN ADDITIONAL DEBT IN JUST SIX YEARS. NOW, WE ARE -- WE WENT FROM $5.9 TRILLION OF DEBT TO NOW A $9.8 TRILLION. ALMOST $4 TRILLION WHICH IS TO SAY AN 80% IN-- INCREASE IN THE INDEBTEDNESS OF THIS NATION IN 84 MONTHS. WHILE THE REPUBLICANS ENJOYED SIX YEARS OF HEGEMONY. TOTAL, ABSOLUTE CONTROL. YET SOME OF OUR REPUBLICAN FRIENDS COMPLAIN, AUDACIOUSLY SO, THAT THIS BUDGET CONFERENCE REPORT INCLUDES AN INCREASE IN THE DEBT LIMIT. HOW SOON THEY FORGET. THEY FORGET OR MORE ACCURATELY THEY DELIBERATELY IGNORE THEY ENCREASE THE DEBT LIMIT FOUR TIMES IN FIVE YEARS. UNDER BILL CLINTON'S PRESIDENCY DURING HIS LAST FOUR YEARS, THE DEBT WAS INCREASED NOT ONCE. NOT ONCE. THE DEBT LIMIT INCREASE INCLUDED ...