| 00:00:31 |
Ryan, Paul - U.S. Representative, [R] Wisconsin
DID FEEL THE ECONOMIC COLLAPSE THIS COUNTRY. OUR WITNESS TODAY'S DOUG ELMENDORF, DIRECTOR OF THE CONGRESSIONAL BUDGET OFFICE. WANT TO THANK YOU FOR...
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| 00:04:47 |
Schwartz, Allyson - U.S. Representative, [D] Pennsylvania
OUR ATTENTION. I DID WANT TO SAY THAT RANKING MEMBER BEN HOLLAND IS AT THE WHITE HOUSE. HE APOLOGIZES TO DR. ELMENDORF FOR NOT BEING HERE. USER CAN...
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| 00:13:02 |
Elmendorf, Douglas W. - Director
YOU, MR. CHAIRMAN. TO YOU AND ALL THE MEMBERS, THE BUDGET OUTLOOK OF THE UNITED STATES IS DAUNTING DURING THE NEXT DECADE AND OVER THE LONGER TERM....
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| 00:19:30 |
Ryan, Paul - U.S. Representative, [R] Wisconsin
YOU. YESTERDAY THE TRUSTEES AND THE WAYS AND MEANS CONFIRMED IN A HEARING MEDICARE AS WE KNOW AND USE IN 2023 SO I HAVE THREE BASIC QUESTIONS ON THIS...
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| 00:20:57 |
Elmendorf, Douglas W. - Director
OUT OF MONEY THAN THE ONLY WAY THE BENEFITS WILL BE CONTINUED AT THE LEVEL SPECIFIED IN THE CURRENT LAW IS IF THE GENERAL REVENUE WERE USED FOR THAT...
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| 00:30:59 |
Schwartz, Allyson - U.S. Representative, [D] Pennsylvania
SCHWARTZ? >> LET ME TAKE A DIFFERENT APPROACH ON MEDICARE. ONE IS WE ARE CONCERNED ABOUT THE LONG-TERM FISCAL HEALTH OF MEDICARE. IT'S ONE OF THE REASONS...
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| 00:32:29 |
Elmendorf, Douglas W. - Director
MEDICARE PAYMENT TO PROVIDERS, THE WHOLE COLLECTIONS IN LAST YEAR'S LEGISLATION. SOME PEOPLE WERE FRUSTRATED AT THE HOUR ANALYSIS OF GOT INTO THE GERRANS...
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| 00:41:39 |
Ryan, Paul - U.S. Representative, [R] Wisconsin
AND WHY WE PROPOSE WHAT WE PROPOSED BECAUSE YOU ARE RIGHT. WE'VE GOT TO DO THIS OUT. MEDICARE IS THE BIGGEST DRIVER AND THE AFFORDABLE CARE ACT DOES...
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| 00:44:35 |
Elmendorf, Douglas W. - Director
DID NOT INCLUDE THE EFFECT OF THE ADDITIONAL IN THE LETTER. WE'RE PART OF THE COST FOR A TYPICAL 65 YEAR OLD AND INCLUDE THEIR MODEL. ESTIMATE THE...
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| 00:45:31 |
Flores, William "Bill" - U.S. Representative, [R] Texas
TRILLION IN DEBT. I WANT TO TALK ABOUT THREE THINGS. IN 2.1 OF THE MATERIAL YOU HANDED OUT TODAY YOU HAVE SOME GDP GROWTH CHARTS. CAN YOU TELL ME QUICKLY...
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| 00:45:54 |
Elmendorf, Douglas W. - Director
CONGRESSMAN, WE SET FOR THE UNDERLYING PATH OF THE BENCHMARK TWO YEARS FOR MOST BUDGET PROJECTIONS AND ECONOMIC FUTURE AND AS YOU SEE -- >> JUST GIVE...
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| 00:51:31 |
Doggett, Lloyd - U.S. Representative, [D] Texas
HAS SAID THAT PELL GRANTS, WHICH ALLOW FOLKS TO GO TO COLLEGE OR JUST ANOTHER FORM OF WELFARE AND WE CANNOT SUSTAIN THE LEVEL OF FINANCIAL ASSISTANCE...
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| 00:52:33 |
Elmendorf, Douglas W. - Director
OCCASIONS. >> I THOUGHT THAT WAS THE CASE. WHILE WE WANT MORE AGENCY AND TO ADDRESS THE LONG-TERM COSTS, IF THESE CUTS ARE DRAMATIC OF THE NOT ONLY WILL...
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| 00:56:51 |
Huelskamp, Tim - U.S. Representative, [R] Kansas
REPUBLICAN PLAN AND BY A FRESHMAN. HOW LONG HAS IT BEEN SINCE YOU HAVE ANALYZED THE CONGRESSIONAL DEMOCRATIC BUDGET? >> I DON'T WANT TO SOUND TOO TECHNICAL...
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| 00:57:05 |
Elmendorf, Douglas W. - Director
ANALYZE BUDGET RESOLUTIONS. THEY COME FROM THE BUDGET COMMITTEES. IN FACT WE'RE TRYING TO THE KITCHEN AND RYAN PROPOSAL WE ANALYZE THE IMPACT OF THE...
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| 01:01:52 |
Yarmuth, John - U.S. Representative, [D] Kentucky
IN PASSING $6 TRILLION WORTH OF ADDITIONAL DEBT OVER THE LAST FOUR YEARS ATTRIBUTED TO THE CONGRESSIONAL THE ACTIVITY. HAVE YOU DONE AN ANALYSIS OF...
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| 01:02:15 |
Elmendorf, Douglas W. - Director
DONE AN ANALYSIS SOMETIMES OF THE SWING IN THE BUDGET DEFICIT FROM WHAT CBO IS PROJECTING ABOUT A DECADE AGO TO WHAT HAS COME TO PASS, AND IT TURNS...
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| 01:07:12 |
Ryan, Paul - U.S. Representative, [R] Wisconsin
THE SUBSEQUENT WEEK REVISED THAT ANALYSIS TO THE DEAL WITH THAT PARTICULAR STATISTIC AND THEY REVISE IT TO THINK 5% OR SOMETHING LIKE THAT. NEXT IS...
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| 01:07:44 |
Stutzman, Marlin A. - U.S. Representative, [R] Indiana
THE ECONOMY? >> THE CURRENT LEVEL OF DEBT
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| 01:07:49 |
Elmendorf, Douglas W. - Director
IS REDUCING OUR OUTPUT, OUR INCOMES RELATIVE TO WHAT WOULD BE THE CASE IF WE HAVE A LOWER LEVEL OF DEBT LEAVING ASIDE THE EFFECT OF THE PARTICULAR...
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| 01:13:24 |
Tonko, Paul - U.S. Representative, [D] New York
NEEDED SO WELCOME. IF I COULD JUST RETURNED BRIEFLY TO THE LINE OF QUESTIONING, IS IT REASONABLE TO ASSUME EDUCATION SPENDING AND ECONOMIC GROWTH...
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| 01:13:59 |
Elmendorf, Douglas W. - Director
COUNTRY. >> WE THIS DONE AND I WAS OF INFRASTRUCTURE INVESTMENT, AND OBVIOUSLY THERE ARE SOME ASPECTS OF THAT INVESTMENT HAS BEEN MORE BENEFICIAL TO...
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| 01:19:24 |
Woodall, Rob - U.S. Representative, [R] Georgia
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| 01:19:37 |
Elmendorf, Douglas W. - Director
LARGER PORTIONS OF AMERICANS ARE ON FOOD STAMPS THAT I'VE BEEN ON FOOD STAMPS HISTORICALLY. ONLY INVOLVED IN A COST-CONTAINMENT BECAUSE THE PRICE OF...
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| 01:21:32 |
Ryan, Paul - U.S. Representative, [R] Wisconsin
OTHER PRIVATE HEALTH PLANS HAVE LOWER CONSCRIPTS AND MEDICARE. THERE'S ONE OF THE FOUR APPEARS OR MEDICARE IS LITTLE OR AND THE DIRT. ALTHOUGH THERE...
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| 01:24:01 |
Woodall, Rob - U.S. Representative, [R] Georgia
FORMS OF SPENDING? AS YOU ACTUALLY POINT TO AREAS OF SPENDING MORE VALUABLE IF DONE BY THE FEDERAL GOVERNMENT DIDN'T SEND A STATE OR LOCAL GOVERNMENT...
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| 01:24:13 |
Elmendorf, Douglas W. - Director
INDIVIDUAL? >> ADVENTURES SEEN IN A HARD QUESTION, CONGRESSMAN. THE POINT I WAS TRYING TO BEFORE IT WAS SIMPLY THAT ONE SHOULDN'T FEEL ALL FORMS OF GOVERNMENT...
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| 01:25:16 |
Blumenauer, Earl - U.S. Representative, [D] Oregon
THE AVERAGE. >> IN WHICH A PRESCRIPTION MEDICARE DRUG SCAM OVER THE VETERANS ADMINISTRATION ACTUALLY NEGOTIATES PRICES, DO THEY PROVIDE PRICES LESS...
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| 01:25:33 |
Elmendorf, Douglas W. - Director
THEY DO. >> YOU'RE EXTRAPOLATING INDIVIDUAL SYSTEMS. >> I APPRECIATE THAT, BUT I JUST WANT TO SAY WITH ALL DUE RESPECT THAT THERE ARE MONOS THE FEDERAL...
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| 01:30:34 |
Black, Diane Lynn - U.S. Representative, [R] Tennessee
ABOUT AND HE IS GOING MORE ON HOW DEAD IS EFFECT IN INDIVIDUALS AND FAMILIES. AS THEY COULD TURN THE ATTENTION A LITTLE BIT IN A DIFFERENT DIRECTION ON...
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| 01:31:18 |
Elmendorf, Douglas W. - Director
REFERS TO THE PHENOMENON THAT THERE'S MORE GOVERNMENT DEBT BEING ISSUED IN A LARGER SHARE OF THE PRIVATE SAVINGS IN HOLDING THAT DEBT, RATHER THAN INVESTMENTS...
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| 01:35:58 |
Pascrell, William "Bill" J. Jr. - U.S. Representative, [D] New Jersey
MR. ELMENDORF, THE ISSUE THAT KEEPS ON COMING UP, WE PASS WHAT I CONSIDER TO BE SIGNIFICANT SAVINGS, ONE THIRD OF THAT LEGISLATION WAS DEVOTED TO MEDICARE...
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| 01:40:16 |
Elmendorf, Douglas W. - Director
INFLUENCES ON THE ECONOMY. THE POLICIES OF PRESIDENTS AND CONGRESSES ARE OBVIOUSLY IMPORTANT. I WOULD BE CLOSE TO DRAW ANY STRONG CONCLUSIONS FROM THAT....
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| 01:41:24 |
Garrett, Scott - U.S. Representative, [R] New Jersey
THAT SHOULD MAKE OVERTIME. >> CERTAINLY IS, CONGRESSMAN. SO WHEN YOU MADE THESE ASSUMPTIONS -- WHEN YOU MAKE THESE PROJECTIONS, WHAT DO YOU DO QUICKLY...
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| 01:41:49 |
Elmendorf, Douglas W. - Director
SAVING MATTERS. WE ASSUME PRIVATE SAVING CONTINUES OVER TIME IN A WAY THAT KEEPS INTEREST RATES AND THAT WE DO OTHERS AIMS FOR POLICIES. >> YOU MAY...
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| 01:46:57 |
Wasserman Schultz, Debbie - U.S. Representative, [D] Florida
THAT WOULD EVEN SEEMS THAT THE SMALL PERCENTAGE CUT WOULD HAVE A SIGNIFICANT IMPACT, THAT SEEMS BACKED UP, MR. ELMENDORF COMMITTEE CHAIRMAN BERNANKE...
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| 01:48:00 |
Elmendorf, Douglas W. - Director
BERNANKE STATEMENT. WE HAVE NOT DONE AN ECONOMIC ANALYSIS OF THE REPUBLICAN BUDGET RESOLUTION. AS I SAID EARLIER AND ON ANOTHER OCCASION, NEAR-TERM...
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| 01:52:31 |
Ribble, Reid - U.S. Representative, [R] Wisconsin
PLAN ACTUALLY DIRECT FUNDS MORE TOWARDS LOWER AND MIDDLE INCOME AS OPPOSED TO WEALTHY MILLIONAIRES AND BILLIONAIRES, WHAT WE IN FACT IMPROVE THE CIRCUMSTANCE...
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| 01:52:46 |
Elmendorf, Douglas W. - Director
ANALYZE THE PATIENT'S DECISION COMING ABSOLUTELY RIGHT. THE LEVELS OF SUBSIDIES FOR DIFFERENT RESOURCE IS AN PART OF THE ANALYSIS TO BE. >> MIDDLE-CLASS...
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.