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| TIME | SPEAKER | TEXT |
|---|---|---|
| 00:00:25 |
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WHITE HOUSE BUDGET DIRECTOR PETER ORSZAG DEFENDED THE PRESIDENT'S REQUEST FOR FY 2010. THE FORMER... |
| 00:00:55 |
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I CALL THE COMMITTEE TO ORDER. THE COMMITTEE CONVENES TODAY TO PURSUE THE ADMINISTRATION'S REQUEST... |
| 00:04:36 |
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THANK YOU FOR THIS HEARING. I LOOK FORWARD TO HEARING A NUMBER -- HAVING A NUMBER OF HEARINGS ON THIS... |
| 00:07:38 |
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THANK YOU. OUR WITNESS THIS MORNING IS NO STRANGER TO THIS COMMITTEE. HE SERVED ABLY AND WELL AS THE... |
| 00:08:25 |
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THANK YOU TRANSCRIPT, MR. RYAN, MEMBERS OF THE COMMITTEE. I COME BEFORE YOU AT THE TIME OF GREAT CONSEQUENCE... |
| 00:18:52 |
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THANK YOU, DIRECTOR ORSZAG. THERE ARE MANY SIGNIFICANT FEATURES TO THE BUDGET REQUEST YOU BROUGHT... |
| 00:19:20 |
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MR. CHAIRMAN, AS WE DESCRIBED IN THE HEALTH RESERVE FUND IS A DOWN PAYMENT, A VERY SIGNIFICANT DOWN... |
| 00:19:30 |
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IS THAT 50%? 60%? |
| 00:19:31 |
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IT IS LIKELY TO BE THE MAJORITY OF THE COST BUT WHETHER 50, 60, 70 WILL DEPEND ON THE DETAILS OF WHAT... |
| 00:20:08 |
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WILL THAT INCLUDE POSSIBLY SOME REVENUES FROM AUCTIONING OF EMISSION LIMITS AND TAX AND TRADE IN?... |
| 00:20:15 |
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THE BUDGET DOES PROPOSE THAT BUT THAT IS -- THAT IS IN THE ENERGY AREA. IN HEALTH CARE WE DO HAVE... |
| 00:20:46 |
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CAN YOU OUTLINE THE BASIC OUTLINES OF THE HEALTH-CARE PROPOSAL THE ADMINISTRATION WILL SEND US OR... |
| 00:20:55 |
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TO THE BUDGET INCLUDES KEY PRINCIPLES ON THE HEALTH REFORM, BUT AGAIN YOU ARE GOING TO HEAR MORE ABOUT... |
| 00:21:10 |
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THE STIMULUS BILL CONTAINED A VERY SIGNIFICANT ITEM, OVER $19 BILLION AS I RECALL FOR INFORMATION... |
| 00:21:43 |
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HELP INFORMATION TECHNOLOGY IS NECESSARY BUT NOT SUFFICIENT BY ITSELF. CAN MOVE TO MRI EFFICIENT HEALTH-CARE... |
| 00:23:41 |
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LET ME TURN TO THE DEFENSE SPENDING. YOU SHOWED US WHAT NON DEFENSE AND DISCRETIONARY WILL DO, AND... |
| 00:23:56 |
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DEFENSE SPENDING DECLINES AS A SHARE OF GDP, IN 2009 PROJECTED TO BE 4.9% AND ON AVERAGE OVER THE... |
| 00:24:47 |
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OUR ANALYSIS SHOWS -- I'M NOT SURE WE HAVE A CHART READY AT HAND -- BUT OUR ANALYSIS SHOWS DEFENSE... |
| 00:25:19 |
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THAT IS CORRECT FOR THE BASIC DEFENSE BUDGET. |
| 00:25:23 |
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WE ARE FIXING THE LEVEL HISTORICAL A. |
| 00:25:25 |
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THERE HAS BEEN A VERY SIGNIFICANT INCREASE IN THE DEFENSE BUDGET AND THIS BUDGET, THE PRESIDENT'S... |
| 00:25:39 |
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FOUR SUPPLEMENTALS YOU'RE DOING AWAY WITH SUPPLEMENTALS BUT DON'T HAVE ANY NUMBERS WERE AT THE END... |
| 00:25:59 |
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WELL, FIRST LET'S STEP BACK AND REALIZE THERE WILL BE A SUPPLEMENTAL SUBMITTED THIS MONTH FOR THIS... |
| 00:26:45 |
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MAYBE I SHOULD'VE DONE THIS AT THE BEGINNING, WE HAVE HAD FIVE WEEKS IN OFFICE AND THE BUDGET PROCESS... |
| 00:27:03 |
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ONE LAST QUESTION FROM ME. AT LEAST IN IN THE OUTLINE OF THE BUDGET WE GOT HERE, THERE'S NOT A LOT... |
| 00:27:30 |
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TAKE A SLIGHTLY DIFFERENT VIEW, MR. CHAIRMAN. AS THE CHART AND PUT UP SHOWS OF THE KEY TO OUR FISCAL... |
| 00:28:29 |
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THANK YOU VERY MUCH. MR. RYAN. |
| 00:28:31 |
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THANK YOU MR. CHAIRMAN AS YOU NOTICE I HAVE IF YOU COUPLE CRITICISMS WITH THIS BUDGET. BUT LET ME... |
| 00:29:13 |
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I APPRECIATE BACKED KANAKA WANT TO TALK ABOUT THE ECONOMIC ASSUMPTIONS OF THIS. LOOKING AT YOUR. ... |
| 00:30:04 |
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I'M GLAD YOU ASKED THIS QUESTION BECAUSE LET'S COMPARE OURSELVES TO CBO, AN INDEPENDENT MS. CBO ANALYSIS... |
| 00:30:41 |
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THAT WAS MY NEXT QUESTION. |
| 00:30:43 |
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THIR ENOUGH, BUT WE DO HAVE A PROCESS HERE WITH ASSUMPTIONS ARE LOCKED AT A POINT IN TIME AND INCOMING... |
| 00:31:02 |
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BUT YOU WON'T AGREE CALIBER THOSE ASSUMPTIONS GIVEN THE LAST TIME OF ECONOMIC TURMOIL -- WILL STICK... |
| 00:31:10 |
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AS YOU KNOW IT IS BASED ON A SET OF ASSUMPTIONS LOCKDOWN, I DON'T THINK IT IS PRODUCTIVE TO BE CHASING... |
| 00:31:27 |
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IS A BORN TO PLAY OUT THE NUMBERS ARE STAGGERINGLY HIGH -- IT IS IMPORTANT THAT YET THE BASELINE DON'T... |
| 00:32:15 |
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LET ME BRING THAT DOWN INTO TWO PARTS -- FIRST WITH REGARD TO THE SAVINGS ON THE WAR. IN THE TRADITIONAL... |
| 00:32:37 |
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THE LEVEL FROM 2008. THE LAST FULL YEAR OF FIGHTING THAT HAS BEEN PROVIDED. |
| 00:32:42 |
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SO YOU ASSUMING YOUR BUDGET THAT WE REQUIRE TO HAVE A SEARCH FOR 10 YEARS EVEN THOUGH BY DEFINITION... |
| 00:32:53 |
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THAT IS THE TRADITIONAL WAY IN WHICH BUDGET PROJECTIONS HAVE BEEN DOWN AND OUT ALSO SAY AND THINK... |
| 00:33:58 |
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SELL $1.6 TRILLION OF THE SAVINGS IS BECAUSE YOU ARE SAYING WE'RE NOT GOING TO HAVE A SEARCH FOR 10... |
| 00:34:06 |
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ABOUT A TRILLION AND A HALF BECAUSE OF THE WAR ENDS MARKET AND OF THIS BUDGET THAN WE THINK THE ALTERNATIVE... |
| 00:34:15 |
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CAN YOU BRING UP THE CHART, JOSE, A VETERAN OF DEFENSE DISCRETIONARY OF A GDP, PLEASE. AND THIS IS... |
| 00:35:49 |
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SLOWER GROWTH. I THINK THE ANSWER IS, YES, BECAUSE HERE IS THE CONTEXT -- FROM OUR PERSPECTIVE THERE... |
| 00:36:34 |
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I THINK THE PROBLEM UP AROUND HERE IS MOST PROMINENT THING IS A TEMPORARY INCREASE AND THAT IS WHAT... |
| 00:37:10 |
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CORRECT. |
| 00:37:13 |
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I'M GOING TO ASSUME WE HAVE A MARKET BEFORE APRIL SO THAT MEANS THERE ARE LOTS OF QUESTIONS WE WOULD... |
| 00:37:47 |
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WITHOUT OBJECTION SO ORDERED. MR. SCHWARTZ. |
| 00:37:49 |
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THANK-YOU, MR. CHAIRMAN, AND THANK YOU FOR THIS FIRST HEARING ON THE BUDGET. , CONGRATULATIONS ON... |
| 00:41:04 |
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LET ME START WITH THAT QUESTION. AGAIN, REMIND YOURSELF OF THAT GRAPH WITH MEDICARE AND MEDICAID ... |
| 00:43:30 |
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THANK YOU, MISS SWARTZ. LET ME TELL EVERY ONE OF THE CLOCK IS NOT WORKING SO WHEN WE GET DOWN TO FOUR... |
| 00:43:44 |
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THANK YOU MR. CHAIRMAN. |
| 00:43:46 |
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WELCOME BACK, DR. ORSZAG. SINCE CONGRESS HAS BECOME UNDER DEMOCRATIC CONTROL THEY HAVE RECENTLY ACHIEVED... |
| 00:44:47 |
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THE BUDGET THAT WE ARE INHERITING YES FOR PEACETIME. |
| 00:44:51 |
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YOU ARE INHERITING THE BUDGET OR PROPOSING THIS BUDGET? CAN I27% IS FOR A YEAR IN WHICH WE ARE IN... |
| 00:45:06 |
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I AM LOOKING FOR A SIMPLE |
| 00:45:07 |
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THANK YOU. ALSO WITH THIS BUDGET, WITH THIS DOUBLE THE NATIONAL DEBT IN EIGHT YEARS? IS THAT TRUE?... |
| 00:45:17 |
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UNDER CURRENT POLICY THE DEBT INCREASE WOULD BE EVEN LARGER. WE REDUCE THE DEFICIT BUT THERE STILL... |
| 00:45:23 |
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IS IT TRUE IN A YEARS THAT THE DEBT WOULD BE DOUBLED UNDER THIS BUDGET? |
| 00:45:28 |
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YES BUT AGAIN IT IS AT MORE THAN IF WE FAIL TO ACT TO MEANT IS THAT IF YOU INCLUDE THE SEARCH LAST... |
| 00:45:37 |
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IF YOU INCLUDE THE TRADITIONAL WAY OF DOING THINGS, YES. |
| 00:45:43 |
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YOU SAID EARLIER IN YOUR TESTIMONY THAT YOU WANT TO AVOID THE MISTAKES OF THE PAST. LET ME READ YOU... |
| 00:47:24 |
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WELL, LET ME TAKE THE JAPANESE EXAMPLE. AT THE LESSON FROM THE JAPANESE EXAMPLE IS THE FAILURE TO... |
| 00:48:09 |
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OKAY, LET'S MOVE ON TO A TAX IN THE LIMITED TIME I HAVE. IS IT NOT TRUE THAT UNDER THIS BUDGET WE... |
| 00:48:40 |
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LET'S TALK ABOUT SMALL BUSINESSES. THE BUDGET PROPOSES SOME TAX CHANGES STARTING IN 2011 THAT WILL... |
| 00:49:36 |
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THE GENTLEMAN'S TIME HAS EXPIRED CAN I THANK YOU, MR. CHAIRMAN COME OUT LIKE TO BEGIN BY SAYING TO... |
| 00:50:06 |
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WILL THE GENTLE LADY YIELD? |
| 00:50:08 |
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NOT ON MY TIME. BUT I THINK THE GENTLEMAN HEARD THE MESSAGE. I LIKE TO THANK DIRECTOR OR A DOG FOR... |
| 00:50:27 |
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NO. |
| 00:50:29 |
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NOAA DID NOT, MAY ASK YOU OF THE ENORMOUS DEBT THAT WE'RE FACING DO YOU HAVE THE NUMBERS WITH YOU... |
| 00:50:48 |
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WE CAN PROVIDE YOU WITH THAT IN WRITING. |
| 00:50:49 |
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WOULD YOU SAY THAT THOSE TOGETHER CONSTITUTE OVER A TRILLION DOLLARS AT THIS POINT PRICE. |
| 00:50:55 |
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AGAIN IT DEPENDS HOW YOU DO THE ACCOUNTING BUT THE COST OF THE WAR INTO IRAQ IS CLOSE TO THAT FIGURE... |
| 00:51:02 |
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I THINK THE GENTLEMAN AND WILL APPRECIATE THOSE FIGURES FOR THE RECORD. LET ME MOVE TO THE TOPIC OF... |
| 00:52:03 |
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CONGRESSWOMAN, I THINK THAT THAT QUESTION IS PROBABLY BEST RECORD TO SECRETARY GEITHNER AND THAT WOULD... |
| 00:52:11 |
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I WILL ASK HIM THAT TAMARA BUT I'M HOPING IN YOUR ROLE AS A LOOK AT THE BUDGETS FOR THESE DIFFERENT... |
| 00:55:37 |
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THANK YOU MR. CHAIRMAN, THANK YOU DIRECTOR AND THANK YOU FOR BEING HERE AND AGAIN AND TURNED MY COLLEAGUES... |
| 00:59:27 |
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AGAIN AT WHAT WE NEED TO DO A SEPARATE TREASURY ACTIVITIES FROM THE FEDERAL RESERVE ACTIVITY IS JUST... |
| 00:59:53 |
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AND IF YOU WANT AN HONEST BUDGET SHOULDN'T THAT BE ON THE LINE SO A TAXPAYER COULD THEORETICALLY BE... |
| 01:00:05 |
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COMPETITION ASIDE, SHOULD IT BE INCLUDED? |
| 01:00:07 |
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I DON'T KNOW THAT I WILL SAY IT SHOULD OR SHOULDN'T BE INCLUDED, I THINK I CAN UNDERSTAND THE MOTIVATION... |
| 01:01:22 |
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AND SO SHOULD WE BE ABLE TO MOVE TOWARD THE SYSTEM IN BRITAIN TO INCLUDE THE ENTIRE RISK OF THAT IS... |
| 01:01:32 |
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WHAT I WOULD SAY IS AGAIN AND THERE IS SOME ATTEMPT TO INCORPORATE RISC IN THE FEDERAL BUDGET ALREADY... |
| 01:02:27 |
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THE GENTLEMAN'S TIME HAS EXPIRED. MR. BECERRA. |
| 01:02:35 |
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THANK YOU MR. CHAIRMAN. MR. ORSZAG, THANK YOU FOR BEING HERE AND CONGRATULATIONS ON YOUR APPOINTMENT.... |
| 01:04:04 |
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CORRECT, SIX OUT OF 34. |
| 01:04:05 |
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I DON'T RECALL SEEING THAT OVER THE LAST SEVEN OR EIGHT YEARS OF THE PREVIOUS ADMINISTRATION WHERE... |
| 01:04:35 |
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DON'T HAVE TO GET BACK TO WITH NAME IS THAT MEMBER BUT THE CUMULATIVE COST EARLIER IS IN THE RANGE... |
| 01:04:44 |
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SO WE CAN DO HEALTH CARE REFORM TO PROVIDE UNIVERSAL COVERAGE, MAKE IT FAR MORE COST-EFFECTIVE FOR... |
| 01:05:07 |
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I WOULD SAY A COUPLE OF THINGS. CLEARLY THERE IS A TIME DIMENSION TO THIS BUT MORE IMPORTANTLY I DO... |
| 01:05:25 |
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IF YOU TAKE INTO ACCOUNT THE TRILLION DOLLARS THAT YOU ESTIMATE FOR THE IRAQ WAR SO FAR PLUS THE MONEY... |
| 01:06:08 |
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YES, THE BUDGET INCLUDES $576 BILLION IN SUCH RELIEF. |
| 01:06:11 |
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FIVE ANGER 76 BILLION -- AND DIDN'T THE PRESIDENT TAKE INTO OFFICE TAKING OFFICE HAVE TO LIVE WITH... |
| 01:06:26 |
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YES, AGAIN COMING BACK TO THE POINT I MADE EARLIER IF YOU LOOK AT THE SITUATION THE PRESIDENT INHERITED... |
| 01:06:51 |
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SO IF WE TAKE A LOOK AT ALL WE DID IN THE PAST AND REALIZE HAD WE HAVE DIFFERENT POLICIES HAVE WE... |
| 01:08:01 |
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I APPRECIATE YOUR BEING HERE. THANK YOU MR. CHAIRMAN, I YIELD |
| 01:08:13 |
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MR. HARPER. |
| 01:08:15 |
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THANK YOU MR. CHAIRMAN AND CONGRATULATIONS AND GOOD LUCK IN YOUR JOB. AND I NOTICED WHEN THE PRESIDENT,... |
| 01:09:05 |
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I GUESS THE WAY I WOULD PUT IT IS GIVEN THE DEPENDENCE ON FOREIGN OIL THAT EXISTS WE CAN EITHER TRY... |
| 01:09:40 |
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WHEN WE TALK ABOUT THE ECONOMY AND GETTING IT BACK, THE ACTIVITY THAT YOU TALKED ABOUT IN MY STATE... |
| 01:10:40 |
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WELL AS YOU NOTED, THERE ARE PROPOSALS IN THERE WITH REGARD TO THE END PART OF THE NUCLEAR FUEL CYCLE.... |
| 01:11:12 |
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FROM A GLOBAL WARMING PERSPECTIVE, NUCLEAR IS, WOULD BE GOOD, WOULD IT NOT? |
| 01:11:18 |
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THE EVIDENCE SUGGESTS THAT NUCLEAR ENERGY HAS LOWER CARBON EMISSIONS THAN FOR EXAMPLE YOU KNOW, WE... |
| 01:11:46 |
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ULTIMATELY ONE OF THE THINGS THAT WILL HAPPEN AS PART OF THE CAP-AND-TRADE SYSTEM IS HIGHER ENERGY... |
| 01:12:36 |
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I KNOW OUR TIME IS ALMOST UP. ONE FINAL QUESTION DEALING WITH NATIONAL DEFENSE. OF COURSE IN THE NEWS... |
| 01:13:04 |
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AGAIN, I'M GOING TO DEFER BOTH BACK TO SECRETARY GATES AND SECRETARY CHU ON THE RELATED PROGRAMS AND... |
| 01:13:18 |
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THANK YOU FOR YOUR TIME, THANK YOU, MR. CHAIRMAN. |
| 01:13:24 |
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MR. DOGGETT. |
| 01:13:26 |
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THANK YOU, MR. CHAIRMAN AND THANK YOU, DR. ORSZAG FOR YOUR TESTIMONY AND IMPORTANT WORK ON THIS BUDGET.... |
| 01:14:56 |
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YOU MAY THINK THAT MAY MEAN SOME FAVORABLE -- [INAUDIBLE] |
| 01:15:03 |
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THE NEW EVIDENCE OUT IS THAT OVER 80% OF OUR LARGEST CORPORATIONS USE TAX HAVENS SUBSIDIARIES, AND... |
| 01:17:03 |
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THE REASON IS IF YOU DID AN AUCTION THE PERMITS IT WOULD REPRESENT THE LARGEST CORPORATE WELFARE PROGRAM... |
| 01:17:51 |
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AND IN THAT REGARD WE LEARNED FROM THE MISADVENTURE AND EXPERIENCE AND THE EUROPEANS WHO DID GIVE... |
| 01:18:20 |
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THEY PLAY AN IMPORTANT ROLE. THERE'S LOTS OF PIECES TO THE BUDGET AND CLEARLY AGAIN I WANT TO COME... |
| 01:18:37 |
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THANK YOU. |
| 01:18:38 |
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THANK YOU MR. CHAIRMAN. DR. ORSZAG, WE HEARD SUCH GOOD THINGS ABOUT YOU WHEN WE WERE LOOKING AT THE... |
| 01:18:49 |
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HE'S DOING A GOOD JOB. |
| 01:18:50 |
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IT'S A PLEASURE TO MEET YOU. MY FIRST QUESTION IS ABOUT THE CUMULATIVE EFFECT OF THE STIMULUS AND... |
| 01:20:23 |
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LET'S COME BACK TO NON-DEFENSE DISCRETIONARY SPENDING SO THE GRAPHITE BUT IT SHOWS THAT OVER TIME... |
| 01:21:38 |
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MR. CHAIRMAN, DID THE PRESIDENT CONSIDER THOUGH FREEZING SPENDING FOR THIS VERY FIRST BUDGET IN ORDER... |
| 01:21:59 |
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I'M NOT -- I DON'T REMEMBER WHETHER THAT PROPOSAL WAS DISCUSSED WITH THE PRESIDENT OR NOT, BUT LET... |
| 01:22:53 |
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MR. CHAIRMAN, I'M GOING TO MENTION SOMETHING I'M TREMENDOUSLY CONCERNED ABOUT IN THIS BUDGET AND THEN... |
| 01:23:29 |
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I WAS ACTUALLY JUST CONFIRMING THAT YOU WERE EITHER FROM WYOMING OR MONTANA, SO I'M GLAD I DID CHECK... |
| 01:24:34 |
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ONE MORE QUESTION MR. CHAIRMAN. SPEAKING OF CHANGING THE COURSE OF OUR BUDGET, THE PRESIDENT AS A... |
| 01:25:05 |
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LET ME COMMENT ON THIS BECAUSE I KNOW IT'S RECEIVED A LOT OF ATTENTION THE THREE ARE THE LEVEL OF... |
| 01:26:17 |
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THANK YOU VERY MUCH. |
| 01:26:19 |
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THANK YOU. I APPRECIATE, MR. ORSZAG, YOU'RE POINT. WE HAVE I THINK A QUARTER OF THE EARMARKS AS OPPOSED... |
| 01:27:41 |
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ABSOLUTELY. UNDER SECRETARY VILSACK'S LEADERSHIP THE BUDGET INCLUDES SUBSTANTIAL BENEFITS FOR FAMILY... |
| 01:28:01 |
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I WOULD LIKE YOUR HELP IN BRINGING IT FORWARD. I DON'T HAVE MUCH TIME. I HAVE TWO OTHER ITEMS I WANT... |
| 01:29:12 |
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THERE IS REALLY ONLY ONE ANSWER TO THAT QUESTION, YES. |
| 01:29:16 |
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SUPER, THANK YOU. [LAUGHTER] I WOULD LIKE TO CONCLUDE ON THE AREA OF MEDICARE REFORM. BECAUSE I DEEPLY... |
| 01:30:52 |
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I WOULD NEVER WANT TO BE ACCUSED OF SOFT PEDDLING ANYTHING, SO LET ME FIRST SAY CLEARLY IN MANY CASES... |
| 01:31:19 |
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BUT IS THAT WHEN YOU'RE IN THESE EXTRAORDINARILY HIGH COST AREAS? IF IT IS MEDICARE ADVANTAGE, WHICH... |
| 01:31:31 |
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ACTUALLY WE BELIEVE THAT THE BIDDING PROCESS WILL LEAD TO THE LARGEST COST REDUCTIONS IN MEDICARE... |
| 01:31:40 |
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BUT CAN WE SUPERIMPOSE THE TWO? |
| 01:31:44 |
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THERE'S LOTS OF WAYS WE CAN DO THIS. WE'VE FOR A PROPOSAL WE THINK WILL WORK WELL. |
| 01:31:49 |
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THANK YOU. |
| 01:31:50 |
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THANK YOU, MR. CHAIRMAN. GOOD TO SEE YOU, SIR. THIS IS THE LARGEST BUDGET FOR SEPARATE. AT THE LARGEST... |
| 01:32:11 |
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LET ME JUST PREFACE BY SAYING OBVIOUSLY THE DISCUSSIONS WE HAD WITH THE PRESIDENT I'M GOING TO, YOU... |
| 01:32:22 |
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I JUST WANT TO KNOW IF YOU PERSONALLY MET WITH PEOPLE OUTSIDE OF THE GOVERNMENT REFLECTING THIS BUDGET... |
| 01:32:31 |
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TO MY KNOWLEDGE I DID NOT PERSONALLY MEET WITH OUTSIDE REPRESENTATIVES WHILE THIS BUDGET WAS BEING... |
| 01:32:41 |
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YES, E-MAILS, CORRESPONDENCE, THAT KIND OF THING FROM OUTSIDE ENTITIES. |
| 01:32:46 |
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I DON'T LIVE ENTIRELY INSIDE A DOUBLE, SO INEVITABLY THERE ARE PEOPLE WHO CONTACT ME THROUGH E-MAIL... |
| 01:32:56 |
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I ASK THIS BECAUSE THE PRESIDENT STATES, QUOTE, IT'S NO SURPRISE -- SECRECY AND UNPRECEDENTED ACCESS... |
| 01:33:43 |
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AS YOU KNOW, THERE IS A LONG HISTORY OUT DISCUSSION BETWEEN CONGRESS AND THE WHITE HOUSE AS TO A BALANCE... |
| 01:34:06 |
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WERE STARTING TO SOUND LIKE THE PREVIOUS ADMINISTRATION I JUST WANT TO MENTION THAT, WHICH IS NOT... |
| 01:34:16 |
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I DIDN'T INTEND TO. |
| 01:34:17 |
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WILL YOU ARE. |
| 01:34:19 |
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IN TERMS OF TRANSPARENCY WE ARE TAKING SEVERAL STEPS TO IMPROVE TRANSPARENCY. I GIVE YOU AN EXAMPLE,... |
| 01:34:42 |
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I UNDERSTAND YOUR CONCERN ABOUT CONTACT BETWEEN STAFF AND THE PRESIDENT. HOW ABOUT THE PRESIDENT MEET... |
| 01:34:51 |
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AGAIN, I UNDERSTAND THE ROAD YOU'RE TRYING TO TAKE ME DOWN HERE. I'M GOING TO JUST IF YOU WANT TO ... |
| 01:35:06 |
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LOGIN, AND THE REASON I'M NOT TRYING TO PUT YOU ON THE SPOT BUT THE REASON IS ACTUALLY READING FROM... |
| 01:35:14 |
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I THINK THIS ADMINISTRATION IS HAPPY TO BE HELD TO A HISTORIC LEVEL OF TRANSPARENCY AND ACCOUNTABILITY.... |
| 01:35:31 |
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I UNDERSTAND BUT AGAIN, SINCE THE PRESIDENT TALKED ABOUT THE HISTORICAL WILL TRANSPARENCY LET ME ASK... |
| 01:35:47 |
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I GUESS WE ARE GOING TO PLAY THIS GAME A COUPLE MORE MINUTES. |
| 01:35:50 |
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WOULD THE GENTLEMAN SUSPEND? I THINK THE WITNESS STATED HIS POSITION AND STANDS THERE ON. SO I THINK... |
| 01:36:02 |
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THANK YOU, MR. CHAIRMAN. LET ME CLARIFY SOMETHING, I'M NOT TRYING TO DO THAT. THE WITNESS JUST SAID... |
| 01:36:32 |
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I THINK YOU'LL SEE A DIFFERENT PLAN GOING TO DEFER TO THE APPROPRIATE OFFICIALS TO GET BACK TO YOU... |
| 01:36:39 |
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THE GENTLEMAN YIELDS BACK. |
| 01:36:41 |
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THANK YOU, MR. CHAIRMAN. I APPRECIATE THAT LINE OF QUESTIONING. MIGHT YOUR FRIEND FROM FLORIDA, I... |
| 01:37:18 |
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AND WHAT DO I MEAN BY THAT? SIMPLY I MEAN THAT THE ADMINISTRATION HAS BROUGHT US A BUDGET WHICH ACCOUNTS... |
| 01:39:45 |
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LET ME DEAL WITH THE SECOND QUESTION FIRST. SOME FORTUNATELY THE CASE TOO MANY PROBLEMS HAVE BEEN LEFT.... |
| 01:42:04 |
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THE GENTLEMAN'S TIME HAS EXPIRED. MR. MCGOVERN. |
| 01:42:09 |
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THANK YOU MR. CHAIRMAN AND DIRECTOR WARSAW, CONGRATULATIONS AND YOU INHERITED A MESS. THE WORST ECONOMY... |
| 01:45:05 |
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YES INOUYE IDENTIFIED A VERY IMPORTANT ISSUE. A PERSON STARTS WITH WHAT HAS HAPPENED THIS RECOVERY... |
| 01:46:20 |
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I APPRECIATE THE ANSWER. AND THIS MAY NOT BE IN YOUR SEARCH OF ACTION BUT LET ME MAKE A PITCH SINCE... |
| 01:47:14 |
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I WOULD ADD IN ADDITION TO THE NUTRITION CITED BETTER INTEGRATION OF PURVIS 50 ADVERTS WOULD ALSO... |
| 01:47:33 |
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THE PRESIDENT'S GOAL OF ENDING JOB HUNTER BY 2015 IS A LAUDABLE GOAL AND ONE WE WANT TO MAKE SURE... |
| 01:48:07 |
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THE GENTLEMAN'S TIME EXPIRED. MR. TSONGAS. |
| 01:48:10 |
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THANK YOU MR. CHAIRMAN AND THANK YOU MR. ORSZAG, I HAVE TO SAY THAT I APPLIED A NEW PRESIDENT REPRESENTING... |
| 01:49:12 |
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WELL, I THINK THERE ARE A VARIETY OF DISCUSSIONS GOING ON. SOME FOCUS ON FINANCIAL EDUCATION WHICH... |
| 01:50:16 |
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LET ME RAISE ONE OTHER TOPIC INCLUDED IN THE BUDGET WHICH IS ONE OF THE THINGS THAT DOESN'T MAKE A... |
| 01:51:08 |
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I WELCOME HEARING THAT AND I LOOK FOR A TWO READING THE PARTICULARS. THANK YOU VERY MUCH. |
| 01:51:15 |
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THIS MCCULLOUGH. |
| 01:51:16 |
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THANK YOU MR. CHAIRMAN. I AM GOING TO QUOTE PRESIDENT OBAMA YEAR. A GOVERNMENT HAS FAILED TO AWAKEN... |
| 01:52:52 |
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LET ME HIGHLIGHT THREE AREAS IN THE FIRST IS PREVIOUS BUDGETS WHEN IT PRESENTS A PICTURE IN THE FUTURE... |
| 01:55:13 |
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LET ME POINT OUT BY INVESTING THE DOLLAR IN EDUCATION OR IN WRESTING A DOLLAR IN I.T. TECHNOLOGY HOW... |
| 01:55:23 |
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SURE, LET ME GIVE A FEW EXAMPLES. ACROSS A VARIETY OF AREAS SO LET'S TAKE THE GOVERNMENT'S OWN OPERATIONS... |
| 01:57:01 |
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MR. EDWARDS OF TEXAS. |
| 01:57:02 |
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THANK YOU MR. CHAIRMAN. MR. ORSZAG, IF I COULD BORROW ON THE WORDS OF MY COLLEAGUE, MR. HENSARLING.... |
| 02:01:18 |
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WELL AGAIN NO DOUBT IN YOUR PROJECTIONS WERE ASSUMPTIONS ACTUALLY LOWER THAN THE BLUE CHIP ECONOMIC... |
| 02:01:37 |
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IF THOSE NUMBERS TURN OUT FOR 2010, 11 OR 12 EVEN IN THE SHORT TERM TO NOT TO BE OPTIMISTIC BECAUSE... |
| 02:01:52 |
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WICKED BIND UP BEING TOO HIGH, THERE IS AMERICAN UNCERTAINTY AND, OF COURSE, WE WILL REVISIT THINGS... |
| 02:02:11 |
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THANK YOU. |
| 02:02:15 |
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I RECOGNIZE MR. SCOTT AND AFTER THAT MR. LANSING IT IS HERE, MR. LAWRENCE SAID HE RETURNS, CONNECTICUT,... |
| 02:02:29 |
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THANK-YOU, MR. ORSZAG, FOR BEING HERE TO DISCUSS THE 2010 BUDGET AND I APPRECIATE YOUR EFFORTS AND... |
| 02:04:07 |
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WELL, LET ME FIRST SAY ALL OF THE ESTIMATES FROM ALL MD, CONGRESSIONAL BUDGET OFFICE AND ELSEWHERE... |
| 02:04:29 |
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OF NORTH CAROLINA IS A NONPROFIT. |
| 02:04:32 |
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I UNDERSTAND THAT AND THERE ARE OBVIOUSLY SOME MORE EFFICIENT AND LESS EFFICIENT INTERMEDIARIES, BUT... |
| 02:05:21 |
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I LOOK FORWARD TO TALKING TO YOU MORE ON THAT BECAUSE I KNOW THAT OF REMOVING THOSE JOBS FROM NORTH... |
| 02:06:35 |
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NOW WE ARE OUTSIDE OF HEALTH CARE, TALKING ABOUT SCIENCE. |
| 02:06:40 |
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ABSOLUTELY WHICH WILL AFFECT ON HEALTH CARE. |
| 02:06:43 |
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ABSOLUTELY, THE RECOVERY ACT INCLUDE AN HISTORIC INVESTMENT IN SCIENCE, THE BUDGET BILLS ON THAT WITH... |
| 02:07:52 |
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I COULDN'T AGREE MORE YEAR IN AND AROUND THE COUNTRY WHERE THAT IS TRUE. THANK YOU MR. CHAIRMAN AND... |
| 02:08:01 |
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THANK YOU, MR. SCOTT OF VIRGINIA. |
| 02:08:03 |
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THANK YOU DERRIN THANK YOU FOR COMING AND YOU HAVE BEEN FACED WITH A KIND OF NATIONAL DEBATE WITH... |
| 02:10:30 |
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NOW, YOU ALSO MENTIONED HONESTY IN BUDGETING, AND THE 2001 INTO THE US AND THREE TAX CUTS PASSED THE... |
| 02:10:53 |
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IS A BORN INTERACTION, IT IS A VERY LARGE SHARE IN PART ON HOW YOU DO THE CALCULATION BUT A VERY SIGNIFICANT... |
| 02:11:25 |
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NOW, YOU HAVE A PLACE HOLDER FOR OVER $600 BILLION IN HEALTH CARE. WHAT CAN WE EXPECT WITH THAT? |
| 02:11:31 |
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WHICH YOU CAN EXPECT FROM THAT IS NOT ONLY OF DISHES THE IMPROVEMENTS ON THE PROVIDER SIDE BUT ALSO... |
| 02:12:04 |
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BASICALLY WE WOULD HAVE BEEN ZERO UNDER THE POLICY TASK THAT WE ARE ON A WITHOUT THE BUDGET INTERVENTION,... |
| 02:12:21 |
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AND FOR ABOUT ONE-TENTH OF THAT YOU ARE GOING TO BE MAKING PROFOUND CHANGES IN HEALTH CARE? |
| 02:12:28 |
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WE BELIEVE THAT THE HEALTH-CARE SYSTEM COULD BE MADE MUCH MORE EFFICIENT AND WE NEED TO DO THAT THIS... |
| 02:12:59 |
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YES IN PARTICULAR THE NUMBER IS REDUCED FROM SOMETHING LIKE 15,000 TO EIGHT OR 9,000. A STILL HIGHER... |
| 02:13:11 |
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THANK YOU MR. CHAIRMAN. |
| 02:13:16 |
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MR. SHORE IS YOUR. |
| 02:13:19 |
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THANK YOU MR. CHAIRMAN AND. A SERIES OF HOPEFULLY QUICK QUESTIONS. THE BLUE-CHIP FORECAST A LITTLE... |
| 02:13:34 |
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A LONG-TERM ONE, NO, THE SHORT-TERM ONE IS TO VARYING DEGREES BUT AGAIN OF LOS TO PAY THE MOST ATTENTION... |
| 02:13:55 |
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A LOT HAS BEEN MADE OVER THIS IS A FAIRLY LARGE PEACETIME BUDGET MAY BE IN RECENT AMERICAN HISTORY... |
| 02:14:14 |
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I THINK IT IS CLEAR THIS IS A BOLD NEW DIRECTION FOR THE COUNTRY. |
| 02:14:18 |
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AND I ASSUME THAT THE ADMINISTRATION FEELS THIS IS THAT THE DIRECTION OF PEOPLE WANT TO GO? |
| 02:14:23 |
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THE DIRECTION THE PEOPLE WANT TO GO AND THE DIRECTION WE NEED TO GO AND WE'RE GOING TO HAVE A FUTURE... |
| 02:14:31 |
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A LOT HAS BEEN MADE OVER TAX INCREASES AND REVENUE INCREASES IN THIS BUDGET YEAR IT ISN'T IT TRUE... |
| 02:14:46 |
|
THERE IS A TAX DEDUCTION FOR AND I REPRESENT THE WORKING FAMILIES IN THIS BUDGET. |
| 02:14:52 |
|
CANADA AMT AND NUMEROUS OTHERS I BELIEVE? |
| 02:14:54 |
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AND WE PROVIDE AND MAKE SURE THAT THE AMT DOES NOT TAKE OVER THE TAX CODE AND WE CONTINUE THE MIDDLE... |
| 02:15:06 |
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I AM SURPRISED THAT SOME OF THE REPUBLICAN COLLEAGUES DISMISS SOME OF THE BUSINESS REALLY ASPECTS... |
| 02:15:27 |
|
LET ME AND DAN, MOST SMALL BUSINESSES NOW ARE STRUGGLING BECAUSE OF THE COLLAPSE IN DEMAND FOR THEIR... |
| 02:16:30 |
|
LAST BUT NOT LEAST, NOT A LOT HAS BEEN MADE OF THE PERFORMANCE OF OUTCOME REPORTING SUGGESTED IN THIS... |
| 02:17:10 |
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ABSOLUTELY AND AGAIN I WANT TO EMPHASIZE THE WAY THE FEDERAL GOVERNMENT HAS MEASURED PERFORMANCE HAS... |
| 02:18:06 |
|
THANK YOU VERY MUCH. I YIELD MY TIME. |
| 02:18:11 |
|
I THINK THE GENTLEMAN. MS. DELAURO OF CONNECTICUT. |
| 02:18:14 |
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THANK YOU MR. CHAIRMAN AND THANK YOU MR. ORSZAG, WORKING AT AROUND SOME MY APOLOGIES FOR HOPPING IN... |
| 02:21:15 |
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WELL, LET ME FIRST SAY ONE OF THE MOTIVATIONS FOR AN INFRASTRUCTURE BANK REFLECTS A CONCERN ABOUT... |
| 02:22:08 |
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I THANK YOU FOR THAT AND I WILL LOOK FOR TO WORKING WITH YOU AND FLUSHING OUT THE DETAILS GIVEN THE... |
| 02:22:47 |
|
I REMEMBER ONE WEEKEND IS SPENDING THE WEEKEND READING A BINDER ON THE EUROPEAN BEST AND BANK BECAUSE... |
| 02:22:57 |
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THANK YOU AND I HAVE A QUICK 16 SECONDS -- EARLY TOWN OF EDUCATION, $142 BILLION IN THE REINVESTMENT... |
| 02:23:22 |
|
IN EARLY EDUCATION PRICING AND THE PRESIDENT'S BUDGET INCLUDES SIGNIFICANT INCREASES WHICH DOUBLES... |
| 02:23:34 |
|
THANK YOU VERY MUCH. THANK YOU MR. CHAIRMAN. |
| 02:23:40 |
|
THANK YOU MR. CHAIRMAN DERRIN DIRECTOR, THANK YOU FOR BEING HERE. I DO YOU HAVE A TOUGH JOB ON YOUR... |
| 02:25:27 |
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OKAY, FIRST LET'S JUST AGAIN POINT OUT WE WANT TO GIVE HEALTH-CARE REFORM DONE THIS YEAR AND THE REASON... |
| 02:28:02 |
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AND SO THE NEW ACCOUNTING FOR SETTING UP WILL BE SET ASIDE AS A DOWN PAYMENT THAT WE CAN DRAW ON IT... |
| 02:28:12 |
|
CORRECT. |
| 02:28:13 |
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CAN YOU TELL ME AT THIS POINT IS THAT THE PRESIDENT'S VISION OF THAT OF THE HEALTH CARE REFORM THAT... |
| 02:28:44 |
|
THE GOAL IS TO MOVE TOWARD UNIVERSAL COVERAGE AND I DON'T -- THERE ARE LOTS OF WAYS OF DOING THAT... |
| 02:29:01 |
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ONE OF THE THINGS I HAVE ALSO LOOKED AT THE MATURE THING SALI HOPE YOU LOOK AT, FIRST ONE OF THE THINGS... |
| 02:30:23 |
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CLEARLY ONE OF THE ISSUES INVOLVE AN EXISTING HEALTH-CARE SYSTEM IS THERE IN A LOT OF COST SHIFTING... |
| 02:30:53 |
|
MOLLOHAN IF YOU HAVE ONE MORE QUESTION PLEASE -- GO AHEAD IF YOU HAVE ONE MORE QUESTION, PLEASE. |
| 02:31:01 |
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PRESIDENT OBAMA RESERVE FUND ON THIS REPRESENTS THE VIEW TALKED ABOUT THE LONG-TERM PATH TO REFORM... |
| 02:32:19 |
|
AGAIN THAT I AGREE WITH READING YOUR LETTER CHAIR ON A PRIMARY CARE PHYSICIANS AND THAT IS A MAP TO... |
| 02:33:33 |
|
THEY HAVE BEEN A GODSEND IN THE DEMAND FOR HEALTH CARE AND IS OUT THERE AND WE'RE NOT GETTING ANYWHERE... |
| 02:33:49 |
|
MRS. MORE. |
| 02:33:53 |
|
THANK YOU, DIRECTOR ORSZAG. I AM VERY IMPRESSED WITH THE PRESIDENT'S EFFORT TO CUT THE BUDGET DEFICIT... |
| 02:35:29 |
|
WELL, LET ME DEAL WITH THOSE IN TURN. THIS BUDGET INCLUDES A VERY IMPORTANT INVESTMENTS NOT ONLY ... |
| 02:36:24 |
|
I WANT TO INTERRUPT BECAUSE I DON'T HAVE MUCH TIME, THAT IS THE WHOLE POINT, YOU'VE GOT TO BE WORKING... |
| 02:37:32 |
|
AND THEN THE OTHER PART. HOW DO WE GET TO CUTTING THE BUDGET DEFICIT IN HALF? IS THERE WITHOUT DEALING... |
| 02:37:44 |
|
WELL, ONE OF THE REASONS THAT WE NEED TO GET THE TRADE -- ONE OF THE REASONS WE HAVE TO GET THE BUDGET... |
| 02:38:14 |
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THANK YOU. I YIELD BACK 29 SECONDS. |
| 02:38:20 |
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WELL DONE, NOT ONLY GET AN A FOR PRESENTATION BUT FORBEARANCE AS WELL. WELL DONE IN THE AND WE LOOK... |
| 02:38:28 |
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THANK YOU VERY MUCH, MR. CHAIRMAN. |
| 02:38:31 |
|
THANK YOU. |
| 02:38:32 |
|
ONE FILE HOUSEKEEPING DETAILS, ALAN ASK UNANIMOUS CONSENT THAT ALL MEMBERS WHO ARE UNABLE TO PRESENT... |
NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.
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Rangel, Charles B.
U.S. Representative (Former) [D] 18
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