I thank the gentleman for yielding, and I thank him and all of my colleagues who will speak here this evening for taking the opportunity, Mr. Speaker, to come to this floor and talk about facts. Facts are stubborn things. And it seems like…
I thank the gentleman for yielding, and I thank him and all of my colleagues who will speak here this evening for taking the opportunity, Mr. Speaker, to come to this floor and talk about facts.
Facts are stubborn things. And it seems like we're living in a time right now of soaring rhetoric. But the facts underpinning the Democrat budget are jarring, and they represent a fundamental departure from the course of American governance.
And we need to talk about those things. I mean, the American people understand that the Federal budget is, in itself, the way a party and an administration lays out its vision for the future of the country. The American people deserve a budget that is fiscally responsible and puts jobs first. And as has been said on the floor before, the budget offered by this administration and supported by our Democratic colleagues in the House fails on both
counts. The American people know we can't borrow and spend and bail our way back to a growing economy.
And history has shown that the policies that are embraced in the Obama budget will actually take our country not out of recession, but very likely deeper into recession. The last President of the United States to raise taxes during a recession was Herbert Hoover, who managed, by his deeply flawed judgment and policies, to take a strong recession in the 1920s and turn it into a decades-long depression in this country. And yet here we stand again at a crossroads in our Nation's history when so many families are hurting, so many small business owners are struggling under this economic downturn.
Well, I thank the gentleman for yielding, and I thank him for his typical eloquent insight. We are not paying attention to history. We are not learning from the candid comments like the Secretary of the Treasury under President Franklin Delano Roosevelt, who realized at the end of America's lost decade of the 1930s that they couldn't borrow and spend their way back to a growing nation. And yet here we are again.
But I hasten to add, not only are we piling on our children and grandchildren a mountain range of debt to pay for--beginning with the stimulus bill, and now the omnibus bill, and now the President's budget--a transformation of government spending priorities along liberal lines, but they intend to pay for it, in part--because we're talking about record deficits. Even if the President hits his deficit reduction mark in 4 years, it will still be a half a trillion dollar deficit, which I remember Democrats decrying during Republican control of the Congress. But beyond all that, they're going to pay for it, in part, with tax increases on small business owners and family farmers.
As the gentleman just described very eloquently, the American people deserve to know a couple of facts. Seventy percent of Americans work in small businesses in this country and in places like Indiana; 70 percent of people get up and go to work every day in a small business. More than 50 percent of the American people who file income tax returns at or above the level that the President intends to raise taxes are small business owners filing their taxes as individuals. And so we ask the question, Mr. Speaker, of the American people looking in, do you think raising taxes on your employer at the small business where you work is a pathway to recovery in America? Is it going to make your job more secure or less secure? Leave aside the so-called cap and trade bill, but raising the utility rates, the electrical bills for every homeowner in America, every business in America----
Let me say as I close, I want to thank the gentleman for leading this hour of debate and say that there are two things that Republicans believe we ought to be doing. Number one is, we ought not to be growing the Federal budget beyond any reasonable expectation of the American people. We shouldn't be engaging in the runaway spending of the so-called stimulus bill, the omnibus bill and the President's budget. We ought to be doing what every family farm, every small business, every working family is doing, and that is finding places to save, finding places to cut back. And then, as the gentleman said, we ought to be doing what John F. Kennedy did, we ought to be doing what Ronald Reagan did, we ought to be doing, as a country, what this Congress and George W. Bush did after the Towers fell, and that is, not giving Washington more money of ours to spend, but giving working families, small business owners, family farmers more of their hard- earned tax dollars to keep and spend. That's the pathway to prosperity.
The President's budget, the Democrats' plans are a pathway to increased recession and hardship for the American people, and we must reject them.