| 00:00:00 | THE TOP RATES, ARE THE REASON THAT WE RAHN THE DEBT AND DEFICITS DURING THE BUSH YEARS. |
| 00:00:07 | WELL, IF YOU REMEMBER WHEN PRESIDENT BUSH CAME INTO OFFICE, SIMILAR TO WHAT HAPPENED WHEN PRESIDENT OBAMA CAME INTO OFFICE, HE INHERIT ADD RECESSION. |
| 00:00:15 | THEN YOU HAD 9/11 HAPPEN. |
| 00:00:18 | AND IT SENT USE IN AN EVEN WORSE RECESSION. |
| 00:00:21 | WELL, IN 2001 TO STIMULATE THE ECONOMY, WE DID CUT TAXES. |
| 00:00:26 | I WOULD SAY THAT THE MISTAKE WE DIDN'T MAKE IS THAT WE DIDN'T CUT SPENDING AT THE SAME TIME, BUT AT LEAST WE CUT TAXES. |
| 00:00:33 | WELL, THE BLUE LINE ARE REVENUES, SO WHEN THE RECESSION HITS, WE CUT TAXES AND IT TAKES A LITTLE WHILE TO RECOVER, BUT AFTER THAT, REVENUES -- AND THESE ARE THE 2001 TAX CUTS, THESE ARE THE 2003 TAX CUTS -- REVENUES ACTUALLY WENT UP. |
| 00:00:50 | THE REASON FOR OUR DEFICIT WAS NOT THAT WE DIDN'T HAVE ENOUGH MONEY COMING INTO THE FEDERAL GOVERNMENT. |
| 00:00:57 | THE REASON FOR OUR DEFICIT IS WE SPENT TOO MUCH MONEY. |
| 00:01:03 | REPUBLICANS WERE THROWN OUT OF OFFICE BECAUSE WE SPENT TOO MUCH MONEY. |
| 00:01:06 | BUT THE DEFICIT WAS NOT CAUSED BY THE TAX CUTS OF 2001 AND 2003. |
| 00:01:14 | SO IT WOULD BE A MISTAKE TO RAISE TAXES DURING THIS ECONOMIC DOWNTURN. |
| 00:01:21 | HOWEVER, I DO BELIEVE THAT WE NEED TO CUT SPENDING BASED ON THE ECONOMIC MODELS THAT I'VE ALREADY TALKED ABOUT DURING THE 1920'S HOW IT ACTUALLY WORKED WHEN YOU CUT TAXES AND CUT SPENDING AT THE SAME TIME, HOW IT CAN ACTUALLY PULL YOUR COUNTRY OUT OF AN ECONOMIC DOWNTURN. |
| 00:01:41 | WELL, THERE ARE BUSINESSES ACROSS MY STATE -- I SPENT A LOT OF THE LAST COUPLE MONTHS TOURING AROUND MY STATE TALKING TO BUSINESSES. |
| 00:01:49 | ONE SMALL BUSINESS OWNER -- THESE TWO WOMEN, THEY STARTED A SMALL COMPANY CALLED "NOTHING BUNDT CAKES. |
| 00:01:57 | " THEY MAKE LITTLE BUNT CAKES. |
| 00:02:00 | AND, UNFORTUNATELY, THEY ARE REALLY, REALLY GOOD, BECAUSE I LIKE TO EAT THEM, AND IT'S NOT GOOD FOR MY WAISTLINE. |
| 00:02:06 | BUT THEY HAVE A GREAT PRODUCT, AND I WAS TALKING TO THEM AND THEY WOULD LOVE TO EXPAND THEIR BUSINESS RIGHT NOW. |
| 00:02:13 | YOU KNOW WHAT THEY SAID TO ME? |
| 00:02:15 | THEY SAID, WE CAN'T. |
| 00:02:17 | TWO REASONS: ONE IS, WE THINK OUR TAXES ARE GOING TO BE GOING UP, AND SO WE CAN'T PLAN FOR IT, AND TWA WAS THE EFFECTS OF THE HEALTH CARE BILL. |
| 00:02:26 | WE DON'T KNOW HOW MUCH THAT'S GOING TO COST US. |
| 00:02:28 | SO IT'S THE UNCERTAINTY OUT THERE OF WHY THEY WOULD NOT EXPAND THEIR BUSINESS AND THEY PROBABLY COULD HAVE CREATED ANOTHER 20, 30, 40 JOBS. |
| 00:02:39 | THOSE JOBS DIDN'T GET CREATED BECAUSE OF THE UNCERTAINTY OF WHAT'S GOING ON. |
| 00:02:42 | SO EXTENDING THE TAX CUTS, I BELIEVE, EXTENDING THE CURRENT TAX RATES IS A BETTER WAY TO SAY IT -- I BELIEVE THAT'S VERY IMPORTANT TO GIVE BUSINESSES |
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