I want to underscore the large challenges that the response teams faced, and the lessons that ought to be learned in the aftermath of this c...
Thank you very much, Mr. Chairman. Glad I made it back in the nick of time.
If we were to throw out the CBO numbers, whether we sometimes agree with them or not, it would be a recipe for budget and fiscal chaos.
I think we agree that you and your team have been an incredibly professional organization.
The levels of debt that are projected in the CBO report in the outyears are unacceptable and unsustainable.
Now, it is true, isn't it, that if you were to make immediate deep cuts, that would have a--that would be a drag, at least in some measure, ...
that cut will result in between 36,800 and 50,600 fewer engineering and construction jobs.
the legislation was responsible for saving and creating between 1.3 and 3.4 million jobs.
Mr. Chairman, if I could just briefly on that.
the reality is that we did have a 1-year budget resolution for this fiscal year.
Immediate, deep cuts will not create a single job.
the most important thing we can do as a country is to put together a credible, long-term plan for fiscal sustainability.
And so that is how we got the figure, 1.4, was we took CBO's estimates of what GDP being would be during that year and applied the percent s...
But just to be clear on the second decade, as you indicated, you expressed your estimate in terms of GDP, and you did say that you believed ...
Isn't it the case that if you reduce revenues, you increase the deficit?
The sooner we make a decision to put in place a plan to deal with the debt in the outyears, the less painful it would be.
the President indicated in his State of the Union address that he will impose in his budget, that will arrive Monday, a 5-year freeze on non...
I want to join my friend and colleague Paul Ryan in congratulating you, Dr. Elmendorf, on being reappointed.
