I thank the gentleman for yielding. On Tuesday, the House will meet at 12:30 p.m. for morning-hour debate and 2 p.m. for legislative business with votes postponed until 6:30 p.m. On Wednesday and Thursday, Mr. Speaker, the House will meet…
I thank the gentleman for yielding.
On Tuesday, the House will meet at 12:30 p.m. for morning-hour debate and 2 p.m. for legislative business with votes postponed until 6:30 p.m.
On Wednesday and Thursday, Mr. Speaker, the House will meet at 10 a.m. for legislative business.
On Friday, the House will meet at 9 a.m. for legislative business.
We will consider several bills under suspension of the rules. A complete list of suspensions will be announced by the close of business tomorrow.
In addition, Mr. Speaker, we will consider Senate amendments to H.R. 4213, the American Jobs Closing Tax Loopholes and Preventing Outsourcing Act.
I yield back.
I thank the gentleman for yielding.
I want to tell the gentleman, although I announced only the American Jobs Bill Closing Tax Loopholes and Preventing Outsourcing Act, my expectation is we will also deal with the COMPETES Act next week as well. That bill, we believe, is a very important bill. We think it's very important for jobs. We think it's very important for investing in our future, and we intend to bring that bill to the floor as well next week.
I am certainly hopeful that we will deal with the issue of spending levels by the time we bring appropriation bills to the floor. We are working on that.
I will say to my friend who has just given us an exposition on his new program--and he gave the Web site address, I think--that, first of all, let me say that we welcome the interest in the Republican Party in cutting spending. Of course, spending was substantially increased when you had the Presidency and the House and the Senate, very substantially, as you know, at twice the rate it was increased during the Clinton administration. We also believe that we are sure that many citizens have some very useful suggestions.
I would also urge them to make their suggestions to the commission which the President has appointed to get a handle on not 16/100 of spending but on the real dollars that confront us and which the American public are very concerned about.
The commission that the President appointed is to look at how we can bring spending down, how we can address the deficit, and how we can get back to the place where we were at the end of 2000, at the end of the Clinton
administration when we had a $5.6 trillion surplus. Unfortunately, that surplus was turned into this administration inheriting about a $5 trillion deficit while your party was in total control of the House, the Senate, and the administration.
But we certainly look forward to the suggestions that you have or anybody has in the public as to how we can bring spending under control.
Your party has talked a lot about earmarks. As the gentleman well knows, in 1994 there were some 4,000 earmarks between our 50 States and 435 districts. That was escalated under Republicans to 15,000-- quadrupled the number of earmarks. Now the gentleman is against earmarks, at least wants a suspension of those. We think that that is, perhaps, progress.
But I want to tell the gentleman that we hope you will cooperate with us in the findings of the commission. You have three very outstanding Members that have been appointed from this House. Hopefully they will make substantive suggestions to get the budget deficit under control as was done in the 1990s when, for the first time in your lifetime and in mine--and I have a lot more lifetime to tout than you do--we had a balanced budget for 4 years in a row. That's never happened in your lifetime or in mine other than during the Clinton administration. That was important.
Unfortunately, in the following decade that we have just been through, again the deficit was exploded. But certainly any efforts to get suggestions from anybody, including the American public, of how they think that we can reduce spending, bring the deficit under control, is welcome, and we look forward to hearing suggestions.
But I want to say that while some of the programs you have mentioned, I have one of those programs being a $200,000 program. You say it's a $1 million program. In either event, it's certainly worth looking at to see whether it has value to invest dollars in.
But you and I both know that in a $3.56 trillion budget deficit that we have to look at the big numbers where we're spending money and what policies we have adopted in order to get to where I think all of us want to be, and that's back to where we were in fiscal year 1997, 1998, 1999, and 2000.
I yield.
Will the gentleman yield?
We've done some very substantive things, most of which your party has opposed. We passed last year the American Recovery and Reinvestment Act which you voted against and which your party voted, to a person, against. I don't know whether you happened to see that, as a result of that act, people last year paid the lowest tax rates that they have paid since 1950. We reduced over $300 billion in taxes for individuals and small business.
Now, you can make fun of the resolutions that your party introduces and my party congratulating people for things or noting that post offices are being renamed or things of that nature, but that's a ruse. That's not the substance of what we do here. Members want to acknowledge their hometown folks. I've been in the legislature for a long period of time. They did that in the State senate. They do it here. And sometimes it's easy to make fun of.
But we've done some very substantive things. The gentleman knows that. This is one of the most productive Congresses that I've served in over the last 30 years in terms of very important pieces of legislation. Your party has voted, in many instances, against that legislation.
The proof of the pudding, of course, is in its eating. You didn't ask me where the jobs are this time as you usually do. There were 290,000 new jobs created, 230,000 jobs the month before that, and an average of 100,000 jobs have been created per month over the last 4 months.
The gentleman, over the last 4 months, hasn't mentioned jobs, apparently because he thinks perhaps we found them where, frankly, the previous administration lost them wherever they were lost. We need to bring them back.
We are investing in bills to get jobs back. We're investing in making sure that people who have lost their jobs have some sustenance to support themselves and their families. We don't think that's de minimis legislation. We think it's critically important.
We are passing legislation to make sure that people have health care; that when they lose their job, they lose their insurance, they get sick, that they have a COBRA coverage that they can count on. We don't think that is de minimis. We are working on legislation to make sure that doctors get reimbursed at appropriate levels so they will continue to serve the seniors of America under Medicare. We don't think that is de minimis action.
Now, I could go on and on, as I am sure you know and probably my colleagues know; but we believe we are passing a lot of legislation to respond to a deep crisis of economic depths, unknown since 75 years ago in the Great Depression, that we inherited and we are trying to respond to. And we are now creating jobs. We are now expanding the economy.
Somebody that you may agree with most of the time, Larry Kudlow, said, you ought to stop talking down the economy. The facts speak for themselves. GDP growth for three quarters in a row, jobs being created, stock market up. It has been down and up in little glitches, but it is up some 70 percent on the Dow, 80 percent on the S&P, and almost 100 percent on the NASDAQ. None of that we think is de minimis, I tell my friend.
Both sides, by the way, do what you just did. We did it to you and we made fun of these little resolutions that don't take much time but are meaningful to the constituencies that hear about them and appreciate the fact that their efforts throughout the country were acknowledged in one way or another, or that somebody that has great respect in their community was honored. Many soldiers and sailors and airmen and marines are being honored by having post offices named for them in their communities. Others are being honored.
So I tell my friend, we need to be serious. We have a critical deficit confronting us. We have a critical long-term deficit confronting us. We have a critical problem of an unsustainable entitlement regime confronting us. The Peterson Institute is running hearings
all over this country to say, Americans, tell us what you think. I don't think your idea is a bad idea of asking Americans. We all want to ask Americans: What do you think? So we can come together to solve what we both agree is a very serious economic ditch into which we have fallen. We need to get out of it. We need to work together to do that. The American public expects us to do that.
I thank the gentleman for yielding. Maybe the public gets tired of this back and forth. But the gentleman talks in ways that indicate that all of a sudden, in 2009, January, when President Obama took office, somehow the world fell apart. In point of fact, as the gentleman knows, in the last year of the Clinton administration, we gained 1.9 million new jobs. In the last year of the Bush administration, under the policies that the gentleman supported and his party was very enthusiastic about, we lost 3.8 million jobs. That is a 5.7 million job turnaround.
Yes, we were in dire straits. And conservative economists, Republican economists, Mr. Zandi and others, as well as progressive economists, liberal economists, call them what you will, all said: If you do not invest in this economy, if you do not invest in stabilizing this economy, very frankly, you are going to lose 800,000 in additional revenues. Which meant that you would be in the same debt position whether you invested that money or didn't.
Now, in investing that money, I say to my friend, with all but maybe 2 months over the last 15 months we have had a straight line out of the almost 800,000 jobs that under your policies were lost in the last month of the Bush administration. Almost 800,000 jobs. We have been on a straight line to now where 5 of the last 6 months, we have had positive job growth.
Is it enough? It is not. Should we do more? We should. Should we cooperate in doing that? Absolutely. That is what the American public expects us to do. But don't forget the fact of how we got here. Don't forget the fact that an awful lot of economists on your other side of the aisle said we needed to invest or the economy was going to fall even further, and we wouldn't have that straight line out of the depths of loss of jobs into the positive numbers of creating jobs.
Let me also say to you, you mentioned taxes, and you mentioned the fact that somehow it was because incomes fell. Incomes did fall, and that was unfortunate. They fell because, we believe--we don't agree on this--it was because of the economic policies that were pursued. We think our facts are valid.
I would remind you, 216,000 jobs per month for 96 months under the Clinton administration, average, 216,000; 21 months of over 400,000 jobs. The Bush administration had 5 of those months, and the Bush administration's average job creation over 96 months was 11,000 jobs; 216,000 versus 11,000 jobs.
So the economy was in great distress. Yes, we had to invest. Yes, we had to borrow. Because, if we didn't, our grandchildren--and I have grandchildren. I have a great grandchild. I am very worried about what they are going to inherit, and I knew that we could not allow the economy to fall through the floor.
But let me say this. This is from USA Today, from an article that appeared: Taxes Paid Have Fallen Much Faster Than Income in This Recession. Your proposition was taxes fell because income fell. Personal income fell 2 percent last year. That is 2 percent too much. Actually, it is about 10 percent too much, because we would have hoped they would have gone up 5 percent or 6 percent or 7 percent.
But listen to this next sentence. I know you will want to get this next sentence: ``Taxes paid dropped 23 percent. The BEA classified Social Security taxes as insurance payments.''
So I tell my friend, we inherited a terrible economy from the Bush administration, and we have been working very hard to bring it back. And almost every indication indicates that in fact it is coming back. We invested in trying to keep the automobile companies employing people, and they are doing that.
So I tell my friend that I did not, as you recall, imply that you had talked down the economy. What I said was Larry Kudlow, talking to his fellow conservatives, said, Don't do it, because the facts don't warrant that kind of attack.
So we are going to continue to work. I want to work with you. We want to get this economy moving. We want to create jobs. You will have legislation on the floor next week, hopefully you will work with us, that we think will do that. It will create summer jobs. It will invest in infrastructure with the America Bonds program. So there are a number of things that you will have an opportunity to vote on next week, I hope you will join us, which are going to continue to stabilize those who don't have jobs and to create jobs for them in the new economy.
If the gentleman will just yield on that, are you referring to the paragraph that says: ``Presidents Clinton and Bush pushed through a series of tax changes, credits, lower rates, higher exemptions that slashed income taxes for poor and middle-class families''?
I don't want to get too personal on this, but what do you think about cutting the spending for the high-speed rail between Richmond and Washington?
Is that a ``no''?
I don't think I mentioned a figure on the extenders. I am pretty sure I did not, not today or, frankly, any other day, because it hasn't been finally completed by the Ways and Means Committee. As you know, they are working with the Senate Finance Committee as well, and working with Republicans. As you know, this was a bipartisan bill when it came from the Senate, Republicans supported it, and we hope it is a bipartisan bill as it leaves here.
But let me say the fact is what the Senate sent us, we are working on. The process that we will consider it has not yet been finally determined, so I can't tell the gentleman exactly what that will be. But some of the things I have already mentioned will be in it, UI and COBRA, FMAP, Build America Bonds for local infrastructure programs, summer jobs programs so we can get young people to work this summer so that they will have some livelihood and can help their families who are in distress.
We also, as I said, are going to deal with the SGR to ensure seniors can keep their doctors. We'll conclude provisions to close tax loopholes, crack down on outsourcing of jobs overseas and protect American jobs here at home. Those are all the things that I think will be in it. That's not necessarily an exclusive list, but that is certainly a bill that we think will be pro-business, and confirming many of the tax benefits that are given to businesses, as you well know, that we regulate, continue, including the investment tax credit so that we can encourage businesses to grow and invest and to create jobs.
So that is an outline of it. This process has not yet been decided. I'm sure there will be discussions about that tomorrow with our Rules Committee chair and with the committee. Perhaps we can know at a later date.
I think, as you know, there was a bill over from the Senate, which was bipartisan in nature, and I think that we need to move this bill before Memorial Day. I think that the committee is going to have to decide how to get that done in the fastest way possible so that many of the expiring issues do not expire, which would be very detrimental to docs and to many other people.
I'm sure everybody listening now will be glad to hear that there is some cooperation and agreement. The gentleman and I are both strong supporters of the Iran sanction legislation. We believe that not only is the Middle East region at risk, but the international community is at risk as long as Iran is pursuing its intent to arm itself with nuclear weapons.
I tell the gentleman that I have been working very closely with Mr. Berman, and it is my hope and expectation that this conference report will be reported back to us before the Memorial Day break, and it is my intention to work towards having that sent to the President before we leave here for the Memorial Day break.
I don't think the same would be because of both the Senate and the House. I'm hopeful that we will pass the supplemental through the House, but it won't be in the same position because we haven't had a conference on the supplemental. The Senate is working on a bill, as the gentleman knows. We're working on a bill. I have talked to the chairman, and he is trying to get the matter together for the committee. And I am hopeful that we will pass it through the House. My urging is that we pass it through the House prior to the Memorial Day break. But, obviously, the gentleman knows we will not have effected a conference by that time. But we want to do so very shortly because, clearly, we need to make sure the resources are available for our men and women in harm's way in both Iraq and Afghanistan and in other troubled spots of the world.