Mike Pence spoke against House budget before they voted on President Obama’s budget resolution. Here’s the transcript of Rep. Pence’s statement:
I rise in opposition to the Budget Conference Report because it borrows too much, spends too much, and taxes too much and the American people know it. At a time when every American family is sitting down around kitchen tables, making sacrifices and making the hard choices necessary to get through these difficult days, here in Washington, D.C. we see a Democrat majority and a new Administration bring forward a budget that will double the national debt in five years and triple the national debt in ten years. A $1.2 trillion deficit in 2010 and deficits of nearly $1 trillion a year every year for the next 10 years.
The distinguished Majority Leader spoke of political courage on the floor just moments ago, but let me say there are no profiles in courage in this budget. The truth is, the Democratic majority and this Administration have brought to this floor the most fiscally irresponsible budget in American history. Congress should be doing what every American family is doing: cutting expenses, finding within themselves the faith and, yes, the courage to get through these times with sacrifice. Instead, here in Washington, D.C. it’s more government, more spending, more debt and more taxes.
In just 100 days, the new Administration and this Democratic majority have decided to greatly expand the mistakes of the past. But we can do better. And I believe for the sake of our children and our grandchildren we must do better. Let’s reject this conference report and start over with a budget that will lead to fiscal prosperity through fiscal responsibility.”
Predictably, Speaker Pelosi spoke of the budget’s liberal virtuosity:
Madam Speaker, it is indeed an honor to call Mr. Spratt a colleague. We say that from time to time about our Members, but never is it truer than in the case of Chairman John Spratt of South Carolina. He is a gentleman who has brought the values of our country, the principles of our great democracy to bear on writing a budget.
Because of his leadership, today for the first time in many, many years, we have a Presidentâ€™s budget on the floor that is a statement of our national values. What is important to us as a nation is reflected in this budget. It is a very happy day for our country, Mr. Spratt, because of your leadership.
What American priority is met by a budget that proposes federal spending equal to 27.6% of GDP in 2009? What American priority is met by a budget deficit of $1,875,000,000,000? You’ll forgive me if I don’t recognize those priorities.
Speaker Pelosi wasn’t done with that BS-laden rant. Here’s another BS-laden rant:
These three, education, health care and energy, are what the business community and other sectors of our community tell us are the investments that we must make in order to turn our economy around.
So here we are today, with a budget before us that creates jobs, reduces taxes, and takes us on a path toward lowering the deficit. It does so in the most transparent way of any budget in our countryâ€™s history and certainly in this Congressâ€™ history. And as it does so, it focuses on those three pillars of the Obama agenda, education, health care and energy.
If “creating a path toward lowering the deficit” is a priority, why is this budget 17 percent bigger than last year’s budget? Couple that with a shrinking economy (It shrunk at an annual rate of 6.1 percent for Q1, FY2009.) and you’ve got the recipe for growing deficits. According to this article, Rep. Paul Ryan thinks that the deficit projectsion are fiction:
Rep. Paul Ryan, R-Wis., said that Wednesday’s news that the economy had shrunk by 6.1 percent in the first quarter highlighted the likelihood that the deficit numbers are even worse than predicted in the budget. “Put reality into the budget and the deficits and debt go much higher,” Ryan said.
Under the Democrats’ unrealistic projections, each deficit is bigger than the record deficit under President Bush. That’s significant because every economist worth listening to will tell you that growth coming out of a recession should be considerably more robust than in the midst of a recovery.
They’ll also tell you that the best way to negate the recovery is with inflation. Reputable economists will also tell you that irrepsonsible debt levels suck money out of a recovering economy that entrepreneurs would otherwise use to expand their businesses.
I alluded to the CBO’s projection in this post. Here’s the CBO’s projections:
CBO, the official scorekeepers for legislation, said the House and Senate bills will help in the short term but result in so much government debt that within a few years they would crowd out private investment, actually leading to a lower Gross Domestic Product over the next 10 years than if the government had done nothing.
This isn’t the only instance where fuzy math has been employed by the Obama administration. Here’s another example:
“We began by passing a Recovery Act that has already saved or created over 150,000 jobs and provided a tax cut to 95% of all working families.”
When I saw the 150,000 jobs created or saved figure, I was more than skeptical. Here’s what Sen. Baucus, the chairman of the Senate Finance Committee, told Treasury Secretary Geithner:
You created a situation where you cannot be wrong. If the economy loses 2 million jobs over the next few years, you can say yes, but it would’ve lost 5.5 million jobs. If we create a million jobs, you can say, well, it would have lost 2.5 million jobs,” Baucus said. “You’ve given yourself complete leverage where you cannot be wrong, because you can take any scenario and make yourself look correct.”
There’s no way I’ll trust those figures, especially with the speculative nature of the figures. Adding to my skepticism is the fact that the Obama administration needs people to start thinking that the stimuilus plan actually did something. There’s little proof that it’s done anything more than add to our debt and paid off the Democratic Party’s political allies.
Finally, it’s put-up-or-shut-up time for Speaker Pelosi and President Obama. Their combination of inflation-creating do-nothing spending and their job-killing tax hikes will hurt families. Unfortunately, they chose to listen to their political allies instead of doing the right thing.
Meanwhile, Mike Pence and the House GOP leadership stayed true to their principles. Main Street will hate their Cap and Trade tax increase and Wall Street won’t trust or like their nationalization policies. When Pelosi’s and Obama’s policies start hurting families and the recovery doesn’t produce results, the people will take it out on them at the polls.
Cross-posted at California Conservative