Mr. Speaker, I yield to the majority leader, the gentleman from Virginia (Mr. Cantor), for the purposes of inquiring of the majority leader the schedule for the week to come. I thank the gentleman for his information. I note that he has…
Mr. Speaker, I yield to the majority leader, the gentleman from Virginia (Mr. Cantor), for the purposes of inquiring of the majority leader the schedule for the week to come.
I thank the gentleman for his information. I note that he has indicated the CR will be considered sometime next week, either Tuesday, but most likely on Wednesday. It's my understanding that the supplemental for emergency requirements of FEMA will be included in the CR; is that accurate?
I thank the gentleman.
When you say all of that has been offset, it is my understanding that in fact in the CR for 2011--not for 2012, but for 2011--there is a $1.5 billion offset included; is that accurate?
And it's further my understanding that that offset, which is unusual in that, as the gentleman knows, during the Bush administration, as happens, we had natural disasters and emergencies-- hurricanes, floods, even earthquakes--that require local governments and local agencies and individuals to respond, and we have responded to them with assistance, but the eight times that we did that during the Bush administration, we did not offset it. We did not offset it on the theory that this was an emergency that occurred that was unplanned for and that we would, in fact, obviously pay for it, but pay for it in subsequent years.
It's my understanding that the offset that is being considered is $1.5 billion from the Advanced Technology Vehicle fund. The problem with that, as I see it, is we are talking about creating jobs, and the President has presented a jobs bill. I'll talk about that in just a minute. But the fund that is in question to date has created 39,000 jobs, and the loan applications in progress are projected to create 50,000 or 60,000 additional jobs.
Therefore, if we use this as an offset, which would set a precedent, although I understand that precedent's not being followed for 2012, what we are doing, in my view, Mr. Leader, is undermining a specific item in the current scheme of things that is, in fact, creating jobs, as I said, 39,000 jobs, with the loan applications that are in progress now expected to create an additional 50,000 to 60,000 jobs, that we undermine that effort.
Frankly, on our side, we would hope that we could return to what is precedent, and that is, in an emergency, respond with emergency funding as we did throughout the Bush administration, not with the concept that we wouldn't pay for it. You and I both agree that paying for this is critically important, and in fact, I think you and I are both of the opinion that, hopefully, the committee of 12 is set up to look at how we get our finances back in line with our revenues and expenditures, that that needs to be done.
But certainly, this is a new precedent. And, unfortunately, it appears that you have targeted--I don't mean you, personally, but the CR would target a particular item that is exactly what we want to do, and that is creating jobs.
Would the gentleman like to comment on that?
I yield to my friend.
I thank the gentleman for yielding.
Of course it's money the government doesn't have. As you know, revenues are at the lowest point they've been in some six decades in America--on one hand because we are not collecting revenue and, on the other hand, because people don't have money in their pockets to pay revenues. They're not working; therefore, they're not paying taxes, and therefore, revenues are down for those two reasons.
I would say to my friend that it's my understanding that the account that you have targeted has some $3.9 billion in pending requests, which are the items that would lead to 50,000 to 60,000 new jobs.
Now, at a time when we're not creating sufficient jobs for our people--let's assume, for the sake of argument, you want to offset this money. You and I both agree it ought to be paid for. The question is: When do you pay for it? Do we pay for it right now?
The fact of the matter is, if you target this particular fund, you are targeting a fund which has demonstrably grown jobs in America. Some 39,000 jobs have been created as a result of loans out of this fund. There is $3.9 billion. You indicate there is still money in the account. You're absolutely right on that. But there are pending requests, again, which would result in 50,000 to 60,000 new jobs, which would be revenue creation for the Federal Government.
So, in fact, it appears that we may be cutting off our nose to spite our face here, and I would urge the gentleman to perhaps revisit this.
The gentleman mentioned the Clinton administration. As the gentleman will well recall, the concerns were not as high then because, during the Clinton administration, of course, we were creating over 3 million jobs per year on average so that the private sector was humming along very well and created 22 million jobs during the Clinton administration.
Unfortunately, that was not the case in the last administration, nor has it yet been the case in this administration, although there were 2 million jobs, as the gentleman knows, created in the last 20 months. However, the last 2 months have been stagnant, and that's not good for anybody. It's not good for Republicans or Democrats, but, more importantly, it's not good for the country. Therefore, I would urge us to make sure that we do not target a fund which has already demonstrably created jobs.
Reclaiming my time. I do know that very, very well. We had surpluses, not deficits.
I thank the gentleman for that response.
We could go back and forth on how many jobs were, in fact, created. My belief is that there were substantial numbers of jobs created by this fund and the prospect of those 50,000 or 60,000 jobs is real, not ephemeral, not just a debating point.
But I would say to my friend, my friend has been recently quoted, I'm sure accurately, perhaps--and correct me if I'm wrong--in saying that during the first 8 months we focused on cuts of our ``cut and grow,'' and now we need to focus on grow. I would tell my friend, assuming that quote is accurate, that, in fact, here we are again focused on cut, not on grow.
Clearly, whatever the specific number is, I think that is, frankly, not refutable, that the investment in advanced manufacturing technology vehicles is, in fact, going to make us more competitive globally, is going to enhance the ability to make it in America, not only to succeed in America but to make ``it''--in this case, advanced vehicles which are competitive in the international markets.
This is a specific area where we have tried to invest in making sure that we make ``it''--in this case, advanced technology vehicles--and I don't think it's good policy for us to be focused on cutting back on those areas which have the promise of growth and jobs. That is what I tell my friend.
Obviously, the gentleman is correct, but I want to tell the gentleman also that if you keep cutting revenues, as we did in 2001 and 2003, and then you keep escalating spending, as we did over the last 10 years, inevitably you're going to get to the point where that family is not going to have any revenues to pay its bills, as the gentleman points out.
But it's inevitable that when you continue to cut revenues and if you don't cut spending, you're going to be in trouble. That didn't happen in the last decade. It didn't happen in the last administration. In fact, as you know, exactly the opposite happened. We escalated spending more than we did under the Clinton administration; and, therefore, we find ourselves in a hole. The economy went into the tank, and it's struggling.
I agree with you. It doesn't matter why it's struggling, who's to blame. It's struggling. As a result, what the President has done is come before us and said, Look, here's a jobs bill. We need to build jobs. I'm not going to go through all the polling data. I'm sure my friend has seen it. There's a recent CNN poll which shows that the public, by big numbers, wants us to focus on creating, building, expanding jobs. And very frankly, the public believes that you need to invest to do that, by pretty good numbers.
I'm for disciplining spending. I will vote to discipline spending, but I don't think that targeting job-creation projects is the way to discipline it when Americans all over this country are really hurting because there are not jobs available for them.
I want to thank the gentleman for what I think are very measured and positive responses to the President's suggestion on how we create jobs in this country. I would ask the gentleman what plans the gentleman has and his party has to move forward on the legislation that the President has asked to create jobs, to invest in growing our economy, and to help those small businesses expand and create jobs and to help those who do not have any job and who are worried about how to put food on their family's table, as well as investing in infrastructure and keeping teachers on the job.
We think this legislation is critically important. We think the American people in the most recent CNN poll have responded very positively. They think this is a productive way to go forward.
Can the gentleman tell me whether or not there are plans to have the committees move forward or for us to move forward on this legislation?
I thank the gentleman for his comments.
I also want to say that, yes, I have seen his comments. I think they have been positive. I think the gentleman has just gone through a list on places where we can, perhaps, find common ground. What we need, of course, is a vehicle, hopefully on this floor in the very near future, in which to find common ground and also to offer alternatives that each of our parties or individuals in this House think will, in fact, grow the economy and create jobs. I think that would be very useful.
The President indicated in his speech a sense of urgency that the American people feel. They gave us that message very loud and clear. I think all of us share that message. To think about somebody being unemployed for 3 months or 6 months or 18 months or 2 years, not want to, and have the ability to work and can't find a job is a crisis, is in fact a depression in that person's life--not only psychologically but actually.
So I would urge the gentleman to bring something to the floor as soon as possible that incorporates that on which we can agree and gives us an opportunity to offer solutions that, perhaps, the House will agree on. And if not, we won't agree.
I also welcome the gentleman's rejection of the philosophy of ``my way or the highway.'' We welcome that recognition, that, in fact, we have to reach compromise if we're going to move this country forward.
If I might in closing, let me, perhaps, ask you about the schedule longer term than next week.
Obviously, we have a special committee. I think the gentleman and I are both committed to--I know I am committed to--the success of that committee. I think it is absolutely critical to give our business community confidence, to give our people confidence, and to give the international community confidence that this government can, in fact, work and can address very serious problems--in this case, the debt and deficit--but also confront the problem of growing our economy. As both the Bowles-Simpson Commission and the Rivlin-Domenici Commission said, we ought to address both. That's what the jobs bill is about, and that's what the special committee is about.
Does the gentleman have any thoughts in terms of the probability of the schedule that you have issued that indicates that we'll get out on December 8? As we know, the committee has to be voted on by December 23. That doesn't mean we have to wait until the 23rd, assuming the committee comes out with a positive report.
Could you elaborate somewhat on what you see the schedule to be and the certainty with which Members can plan based upon the schedule that has been issued given what faces us?
I thank the gentleman for his comments, and I thank him for his time today.
I yield back the balance of my time.