Political Quotes

“Thank you. And I want to thank you for your leadership. I want to thank the gentleman from Nevada for his leadership on this matter, and the chair of the Black Caucus, Marcia Fudge. {time} 2010 Mr. Speaker, the Simpson-Bowles Commission several years ago set a $4 trillion, 10-year deficit reduction goal as the amount of deficit reduction we needed to get our budget under control. The CBC does not endorse the specific recommendations of that goal, but our budget does accept the overall spending limitations of the deficit reduction goals. Based on most analyses, we have already passed, and the President has signed into law, approximately $2.4 trillion in deficit reduction through 2022, not including the sequester. So to reach the goal, we need an additional $1.6 trillion in deficit reduction. So working off the CBO's baseline, we first instruct the Ways and Means Committee to enhance revenues by $2.7 trillion over the next 10 years. That is not an extraordinary figure. Just a few weeks ago, we passed a $3.9 trillion extension in tax cuts. So going back over that and coming up with $2.7 trillion is certainly within the realm of possibility. Now, we don't just make the number up. We show $4.2 trillion in possible options in coming up with the $2.7 trillion.…”