Mr. Speaker, I would like to yield 5 minutes to the chairman of the Financial Services Committee, the gentleman from Birmingham, Alabama (Mr. Bachus).

The House of Representatives passed this bill. They passed it by more than a few votes to spare and sent it here. I believe if the American people knew what was in it, they would favor it. The people in my State would favor it. I think the…

Let's take another look at the definition of red herring on the chart. It says: The name of this fallacy comes from the sport of fox hunting in which a dried, smoked herring, which is red in color, is dragged across the trail of the fox to…

Our friends on the other side of the aisle are almost exclusively focused on hitting up the taxpayer for more revenue.

Mr. President, many of our good colleagues like to suggest our Nation has historic deficits because the American people are not taxed enough. Some claim the so-called Bush tax cuts are the culprit, but the numbers tell a different story…

It is shocking to see how small those numbers are, and we aren't hearing that in the press and in the national discussions. From the talk we have heard about these proposals, you would think they would yield more than 2 days of debt…

Well, let me say I appreciate the work of the ranking member of the Finance Committee, a long-time member of that committee. It seems to me pretty clear that the President's budget he submitted earlier this year--which I have to say was…

That is a stunning thing. You can talk about raising taxes on American workers, on families, on small businesses and on the wealthy and investors all you want, but this talk is easy. It ignores the root causes of the deficit and debt…

Going back to the other chart on taxation and spending under the Obama budget, I would note President Obama's budget raised taxes significantly, increased spending even more, and as a result, over 10 years, created more debt projected than…

Mr. President, I ask unanimous consent that Senator Hatch and I be allowed to participate in a colloquy. The PRESIDING OFFICER. Without objection, it is so ordered. ____________________

Well, not many, is my answer to that. But as often as the President talks about taxing the rich or spreading the wealth around as a cure for our fiscal problems, you would think it would balance the budget. But would he get us there?