Chris Van Hollen: “Actually the Republican budget does follow some of our European friends, but follows them in the wrong way. The strategy…”

“Actually the Republican budget does follow some of our European friends, but follows them in the wrong way. The strategy places like the U.K. have followed is an austerity approach--immediate deep cuts. And guess what that did? That sent them back into a recession. And again, the umpire around this place, the nonpartisan Congressional Budget Office, said that if you take the approach in our Republican colleagues' budget, you'll have 750,000 fewer jobs by the end of this year. That is not a growth strategy. We cannot afford, here in the United States, the European-style austerity plan that is hurting those economies. With that, I yield 2 minutes to the gentlelady from California (Ms. Waters), the ranking member on the Financial Services Committee.”