House Proceeding 03-09-09 on Mar 9th, 2009 :: 1:02:05 to 1:11:05
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1:02:03 to 1:02:24( Edit History Discussion )

Robert C. Scott: under $100,000, on average, you'll get not a dime. now one of the things that is extremely important, and why it is crucial that we get this budget under control, and that is, i refer to social security.

1:02:05 to 1:11:05( Edit History Discussion )
Speech By: Robert C. Scott

1:02:25 to 1:02:46( Edit History Discussion )

Robert C. Scott: this is the social security cash flow chart, showing the blue bars, bringing in now more than we're bringing out. in 2017, we'll start paying out more than we're bringing in. this is $200 billion deficit. $600 billion deficit but in 2040, we'll be approaching $1

1:02:47 to 1:03:07( Edit History Discussion )

Robert C. Scott: trillion paying out more social security than we're bringing in. if we had the $5.5 trillion, you needed about $4 trillion in the bank today, drawing interest, we could pay social security for 75 years without reducing benefits. unfortunately, we're going broke. this is one of the reasons we

1:03:08 to 1:03:28( Edit History Discussion )

Robert C. Scott: have to get our budget under control quickly, because otherwise, we'll get into a deficit situation and social security that will -- that we'll never get out of. one of the things we have to do is make sure that the expenditures and tax revenues get back under control.

1:03:29 to 1:03:49( Edit History Discussion )

Robert C. Scott: federal revenues, traditionally, in the past, have been less than expenditures. we've been spending more than we bring in. that's deficit spending. by the mid 1990's, we actually reduced spending and increased venues to the point where we had that healthy surplus that was set to go as far as the eye could see.

1:03:50 to 1:04:10( Edit History Discussion )

Robert C. Scott: unfortunately, in 2001, we passed tax cuts we could not afford, collapsing revenues, and in fact, even increased as a percentage of g.d.p., increased spending, creating this deficit. we have to get backnder control where the revenues are more than the expenditures.

1:04:11 to 1:04:32( Edit History Discussion )

Robert C. Scott: this year, we're out of control because we've had the stimulus package,e've had the bailouts and everything. but this is just a one-year spike. we need to get the budget back under control. we can do that under the obama budgets, we'll be back to more traditional levels of deficits. when we get down here, that

1:04:33 to 1:04:54( Edit History Discussion )

Robert C. Scott: should not be the end. that's the first step. swreel to continue bringing spending down and revenues up so we'll have a surplus so we'll be able to afford social security. the president's budget, first thing it does, is reinstates what's called pay-go. one reason we can maintain fiscal responsibility in the

1:04:55 to 1:05:17( Edit History Discussion )

Robert C. Scott: 1990's is we had a process called pay-go. pay as you go. if you offer a spending program, you have to pay for it. you have to raise the taxes to pay for it. or cut some spending somewhere else. if you want to cut some taxes, cut some spending. or raise some her taxes. everything you do, you have to pay for it. if you don't pay for it, you can't pass it.

1:05:18 to 1:05:38( Edit History Discussion )

Robert C. Scott: unfortunately in 2001, pay-go expired and the tax cuts were passed without paying for it, increased spending took place without paying for it, and we got into the ditch we're in we now are back under pay-go, where we're going to have to pay for what we do.

1:05:39 to 1:06:00( Edit History Discussion )

Robert C. Scott: one of the things that the obama budget does, it presents an honest budget. there are many things in the last few budgets that were just kind of left out. we knew every year, we'd been continuing some taxes, tax cuts, year after year, we knew ch year we'd put those back. in those weren't in the budgets as introduced.

1:06:01 to 1:06:22( Edit History Discussion )

Robert C. Scott: the war spending, we knew we were at war, it wazero for the war in iraq and afghanistan in the budgets as introduced. we knew we'd spend money on those wars. there were about $250 million worth of known expenditures that were left out of the budgets. the obama budget includes everything everybody knows

1:06:23 to 1:06:44( Edit History Discussion )

Robert C. Scott: we're going to spend. with pay-go and fiscal responsibility, we're going to at least reduce the deficit 50% in the first term of president obama and after we get there, we'll continue to make progress. the president's budget makes significant investments in energy, getting us from dependence from foreign oil and

1:06:45 to 1:07:05( Edit History Discussion )

Robert C. Scott: creating millions of jobs in energy through creating clean energy jobs. his budget bring downs the skyrocketing costs of health care and makes focused investments in edation. one of the things on energy, alternative forms of energy, and conservation and

1:07:06 to 1:07:27( Edit History Discussion )

Robert C. Scott: significant research investments. . in health care we need to make investment in cost control. the social security chart and the medicare chart are very similar. but the medicare chart is even worse because of the accelerating health care cost. we need to get those costs under control because if we don't get

1:07:28 to 1:07:49( Edit History Discussion )

Robert C. Scott: medicare under control, health care generally will consume the entire budget. we need to make sure that we are investing in access. to make surehose who have insurance can keep it. as the cost goes up people are losing their health insurance. makingignificant investments in education, making sure that education tax credits for

1:07:50 to 1:08:11( Edit History Discussion )

Robert C. Scott: education expenses are increased. and pell grants are increased so more and more people can go to college. and we make -- want to make sure we invest in elementary and secondary education. particularly early childhood education. the budget makes a unique investment in nurse home visits.

1:08:12 to 1:08:33( Edit History Discussion )

Robert C. Scott: these have been shown to significantly reduce a lot of problems. one of which is child abuse which is highly correlated with future crime by these nurse visits, nurse visits have been studied and they have found just -- i serve on the judiciary committee. they have found that those who have had the advance of the nurse visits were -- advantage

1:08:34 to 1:08:55( Edit History Discussion )

Robert C. Scott: of t nurse visits were 1/3 as likely to be arrested 18 years later as those who did not. education is much better off. child abuse is down. so those visits will be a very important investment in our future. and finally the president's budget continues large increases and veterans health care. we had significant increases two

1:08:56 to 1:09:16( Edit History Discussion )

Robert C. Scott: years ago and last year, and we will continue those increases so our veterans get the health care that they certainly have earned and deserve. we need to make some tough choices. the president says one of the most -- one of the most difficult choices makin expenditures today that save money in the future. nobody wants to spend the money

1:09:17 to 1:09:37( Edit History Discussion )

Robert C. Scott: today if the money -- if the savings won't occur for five or 10 years. one of the bills that i have introduced is the youth promise act that makes investments in young people to keep them out of trouble. we are spending more money per person in incarceration. we have more people locked up today per 100,000 population

1:09:38 to 1:09:58( Edit History Discussion )

Robert C. Scott: than anywhere on earth. we could significantly reduce the need for that incarceration if we made investments up front, getting young people in the right track, and keeping them on the right track. the youth promise act does that. it has an interesting aspect to it when you save money, the localities that come up with the local plans will try to identify

1:09:59 to 1:10:20( Edit History Discussion )

Robert C. Scott: where they are saving money. and those agencies should kick in to keep that program running. the state of pennsylvania did the collaborative approach that's anticipated in the youth prome act. they founded -- fund add number of programs for a total cost of approximately $60 million. $60 million.

1:10:21 to 1:10:41( Edit History Discussion )

Robert C. Scott: they calculate they saved over the next few years over $300 million because they made those investments and reduced crime significantly. so nobody wants to make the first investment. so the youth promise act will make those investments and hopefully the localities will continue the programs, saving significant money in the future. we have to make the tough

1:10:42 to 1:11:02( Edit History Discussion )

Robert C. Scott: choices. we need to -- if we don't make those tough choices, if we don't get the budget under control, you'll be speing entirely too much money on interest on the national debt. we'll jeopardize social security and medicare, but with the leadership of president obama, the congressional black caucus is committed to addressing our

1:11:03 to 1:11:06( Edit History Discussion )

Robert C. Scott: priorities in a fiscal, responsible way. social security, medicare, and