Hoyer: We Do Not Recognize the Real Problems of Why We Are So Deeply in Debt
WASHINGTON, DC – Today, Congressman Steny H. Hoyer (MD-05), Ranking Member of the Financial Services and General Government (FSGG) Appropriations Subcommittee, delivered remarks on the House Floor during debate on H. J. RES. 139, Proposing an amendment to the Constitution of the United States requiring a balanced budget for the Federal Government. Below are a video and transcript of his remarks:
Click here to watch a video of his remarks.
"I thank the Chairman for yielding – the Ranking Member for yielding. The American people are, obviously, got to be so confused about this debate because one side claims they are bringing us an amendment, a balanced budget amendment, and their history has been – and I've been here for some time – Ronald Reagan increased the budget by 189%. Why do I say Ronald Reagan did it? Because he could have vetoed any spending bill and we would not have overridden that veto. In 2001, we cut taxes, and we were told by our Republican colleagues it would raise additional monies. It did not. Then some of those, particularly who are claiming, ‘Well, we made a deal and we're keeping it. We're getting this constitutional amendment on the Floor,’ what was the deal for? The deal was to vote for the Big, Bad Bill, which created $4.7 trillion of additional deficit, Mr. and Mrs. America. That's a tough way to want to balance the budget.
"We have a ‘paying for’ problem. That's the discipline, a ‘paying for’ problem, not a spending or revenue problem. What we have is a paying problem. If we would pay for things, which presumably this constitutional amendment would seek, then we would not have this continuing deficit. But you and I both know we're not going to do that, and you haven't done it. We haven't done it. Jodey Arrington is right to that extent. This is a problem where we do not recognize the real problems of why we are so deeply in debt, and we pretend cutting nickels and dimes will make a difference. Now, they are big nickels and dimes, I get that. But the fact of the matter is, it is dishonest, in my view, for me or anybody else, to come to the Floor and say, ‘I want to balance the budget,’ and then vote for the largest creation of debt ever on this Floor. Defeat this amendment. Defeat this suspension bill. I yield back the balance of my time."