|00:00:00||100 PK OF OUR GROSS DOMESTIC PRODUCT?|
|00:00:04||IT'S MIND-BOGGLING IF YOU TAKE A STEP BACK AN THINK, FOR EVERY DOLLAR WE SPEND, 42 CENTS IS BORROW.|
|00:00:11||WHAT WOULD A BUSINESS DO, WHAT WOULD A FAMILY DO, WHAT WOULD YOU DO WITH YOUR OWN INDIVIDUAL FINANCES?|
|00:00:17||OBVIOUSLY YOU WOULD CHAME YOUR WAYS.|
|00:00:19||TODAY WE HAVE THAT OPPORTUNITY.|
|00:00:20||THAT'S WHAT THE RYAN REPUBLICAN BUDGET IS ALL ABOUT.|
|00:00:23||NUMBER ONE, IT REDUCES SPEN, REDEUCES SPENING BY OVER $5 TRILLION MORE THAN THE PRESIDENT.|
|00:00:30||NUMBER TWO, IT ELIMINATES LOOPHOLES IN THE TAX SOME SO THE TAX CODE WOULD BE FAIR, COMPETITIVE AND BALANCED.|
|00:00:37||NUMBER THREE, IT REDUCES THE DEFICIT AN THE DEBT BY OVER $3 TRILLION.|
|00:00:43||NUMBER FOUR IT REDUCES THE SIZE OF GOVERNMENT FROM BEING 24% OF THE ECONOMY DOWN TO 20%.|
|00:00:51||HOPEFULLY WE COULD EVEN REDUCE IT MORE THAN THAT.|
|00:00:54||IT REDUCES THE SIZE OF GOVERNMENT WITHOUT ENDANGERING US FROM A NATIONAL SECURITY POINT OF VIEW OR WITHOUT PULLING OUT THE SAFETY NET THAT IS SO IMPORTANT TO OUR SENIORS AND MOST VULNERABLE MEMBERS OF SOCIETY.|
|00:01:07||IT DOES THIS THROUGH COMMON SENSE REFORMS, THROUGH ELIMINATION OF WASTE, THROUGH DUPLICATION.|
|00:01:14||THERE ARE 44 DIFFERENT FEDERAL JOB TRAINING PROGRAMS.|
|00:01:17||IF ONE OF THEM WORKS, WHY WOULD YOU NEED THE OTHER 4 .|
|00:01:22||A.O. SAYS THERE'S 19 DUPLICATIONS OF EFFORT IN PROCUREMENT AT THE PENTAGON.|
|00:01:26||LET'S GET RID OF THEM.|
|00:01:28||OVER AT THE USDA, I HAPPEN TO KNOW I'M ON THIS COMMITTEE, THE FEDERAL PROGRAMS ARE UNBELIEVABLE.|
|00:01:34||IF YOU'RE BOB AND YOU'RE 3 YEARS OLD, BOB IS ELIGIBLE FOR 12 FEDERAL FEEDING PROGRAMS.|
|00:01:40||AT 10 YEARS OLD, HE'S ELIGIBLE FOR NINE.|
|00:01:42||AT 35 YEARS OLD, BOB IS ELIGIBLE FOR SEVEN.|
|00:01:45||AT 65 -- COULD I HAVE 15 SECONDS?|
|00:01:51||MR. RUN: I YIELD THE -- MR.|
|00:01:53||RYAN: I YIELD THE GENTLEMAN 15 SECONDS.|
|00:01:57||MR. KINGSTON: AT|
Mr. KINGSTON. America is on the economic road to Greece. Our national debt is 100 percent of our gross domestic product. And I want you to think about that 1 minute. Did you ever think you would hear that on the floor of Congress, that our national debt is 100 percent of our gross domestic product? It's just mind-boggling if you just take a step back and think, for every dollar we spend, 42 cents is borrowed. What would a business do, what would a family do, what would you do with your own individual finances? Obviously, you would change your ways.
Today we have that opportunity. That's what the Ryan Republican budget is all about. Number one, it reduces spending. It reduces spending by over $5 trillion, more than the President.
Number two, it eliminates loopholes in the tax system so that the Tax Code would be fair, competitive, and balanced.
Number three, it reduces the deficit and the debt by over $3 trillion.
And number four, it reduces the size of government from being 24 percent of the economy down to 20 percent. Hopefully, we could even reduce it more than that, and it reduces the size of government without endangering us from a national security point of view, or without pulling out the safety net that's so important to our seniors and our most vulnerable members of society. It does this through commonsense reforms, through elimination of waste, through reduction and duplications.
You know there are 44 different Federal job training programs? If one of them works, why would you need the other 43? The GAO says there are 19 duplications of effort and procurement at the Pentagon. Let's get rid of them.
Over at the USDA--I happen to know, I'm on this committee--the Federal feeding programs are unbelievable. If you're Bob, and you're 3 years old, Bob is eligible for 12 Federal feeding programs. At 10 years old Bob is eligible for nine. At 35 years old Bob is eligible for seven.
The Acting CHAIR. The time of the gentleman has expired.