On the recordFebruary 6, 2013
In reclaiming my time, the gentleman, respectfully, misstates what I said. There are a lot of people sacrificing and a lot of people who don't have jobs. I want to talk a little bit about that as we deal--or don't deal--with the sequester. What I said was that the only people we had, as a policy, reduced-- and the gentleman is correct. We did raise taxes on those over $400,000. There is nobody in the Federal service, of course, who makes over $400,000. The President makes $400,000. He is at the top, as he should be, and he doesn't get a COLA adjustment, but there is nobody in the Federal service who makes over $400,000. They are the only people we've raised contributions on. Others have, in fact, indeed, sacrificed because they've lost their jobs; they've had their pay frozen because of the bad economic times. This sequester is going to make it worse, and we'll discuss that. What I am simply saying is that the gentleman is not serving the long-term interests of this institution, in my opinion, in not accurately describing what we're doing. That's what I said and that's what I mean.
