Orrin Hatch: “You would think so. But the other 3,651 days of debt under the 10-year Obama budget would not even be touched. There is…”

“You would think so. But the other 3,651 days of debt under the 10-year Obama budget would not even be touched. There is a third red herring that has been thrown out there. Maybe that one closes the gap. We have all heard the President talk about hitting American oil companies by reducing or eliminating domestic energy incentives. This is a real priority of his and of congressional Democrats. We had a cloture vote on a bill by our friend from New Jersey to extract $21 billion in revenue from U.S. oil companies. The Finance Committee had a hearing where the other side touted the benefits of this tax increase by grilling the CEOs of the top five oil companies. If you listened to my friends on the other side, one would think an additional $21 billion would solve all our fiscal problems. Their rhetoric suggests this is the only thing standing between more money to send kids to college and provide school lunches. But I wonder if my friend from Alabama might put into perspective how much of the 10 years of debt under the President's budget this proposal would cover.”