Relating to Consideration of S. 1932, Deficit Reduction Act of 2005
RELATING TO CONSIDERATION OF S. 1932, DEFICIT REDUCTION ACT OF 2005 -- (House of Representatives - February 01, 2006)
Mr. HOYER. Mr. Speaker, I wish I had at least a half an hour to respond to my friend from Florida who just spoke.
We have run up $1.58 trillion of additional deficits in the last 60 months under your leadership. Last night, the President of the United States addressed the American people from this House Chamber. He demanded that we make his tax cuts permanent. Of course, he also urged new Federal spending, among other things for energy independence, a good objective; on education, math and science, a good objective; prevention and treatment for HIV/AIDS. All worthy endeavors of our great Nation.
But President Bush and this Republican Congress, which have had complete control of our Federal Government for 5 years, continue to refuse to answer the most basic, most obvious and most necessary question: How do we pay for these plans and proposals?
The plain truth is, they do not pay for them. The plain truth is, the President and this Republican Congress have pursued the most irresponsible fiscal policies in the history of our Nation, turning a projected $5.6 trillion surplus into a $4 trillion deficit today, a $9.6 trillion turnaround in 60 months.
Now President Bush and this Republican Congress want to enact tax cuts, even as we face record budget deficits and debt brought about by their policies, even as they prepare to ask for a $780 billion increase in the debt limit, the fourth time they have done so.
Today's budget bill is part and parcel of the Republican Party's free-lunch philosophy. Our Republican friends claim that they are going to cut $40 billion to ``restore fiscal discipline.'' Now, you inherited $5.6 trillion surplus. You followed an administration that had four budget surpluses in a row. And you want to restore fiscal discipline to the extraordinary fiscal irresponsibility you have been pursuing for 5 years. A good objective, folks.
But the reality is they plan on cutting an additional $70 billion in taxes. Cut $40 billion in spending, cut $70 billion in taxes. You do not have to be much above the sixth grade to understand that is going to add to your deficit.
No, while the President called for increased funding for education last night, this Republican majority today wants to cut funds for students going to college. While the President recognized the need to make health insurance more affordable, this majority today intends to cut funding for Medicaid to the poorest of citizens.
Meanwhile, we now know that as the Republican budget axe fell on the poor and students, powerful special interests in the dark of night in the conference got $20 billion in cuts back, back. Half of all of the cuts they got back.
I urge my colleagues, vote against this irresponsible, mean-spirited, negative proposal, which is contrary to the interests of the American people and the product of Republican fiscal irresponsibility, and a pretense of support for priorities of education and health care, while at the same time cutting our investment in education of our children and the health of our people, and imposing upon our children and our grandchildren the extraordinary costs of our fiscal profligacy.
I would hope that a number of you would in fact be fiscally responsible and vote ``no'' on this bad package.
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