On the recordNovember 29, 2011
Thank you very much. You are always on top of the issues and you're always so very, very correct. Sheila Jackson Lee, thank you for the enormous amount of work you have done for your constituents in the city of Houston. You mentioned the supercommittee. We ought to spend at least a few moments on that. Everybody says it was a failure and they did not achieve the goal that was set out; however, the public needs to know that the legislation that set up the supercommittee actually reduced the deficit of the United States by $2.1 trillion. A $2.1 trillion reduction in the deficit in the legislation that established the supercommittee. One trillion of that is already going into place. The other $1.1 trillion, it was the specific task of the supercommittee to try to find out if there was a better way to make the cuts, or adding revenue. They were unable to put the revenue together, but the cuts remain, and those are going to go forward. You're quite correct, Ms. Jackson Lee, that we do have the next 13 months, almost 14 months, to figure out a better way. Maybe it's revenue or less cuts. Maybe it's different cuts that are currently across the board in the Defense Department as well as in the discretionary funding. But we have a chance to do that. We have time to do that. It's not all lost. The deficit has been reduced. Now we need to do it in a smarter way, one that actually promotes American jobs, puts people to work, and creates more jobs and manufacturing in America. Mr.…
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