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-- -- Up for a vote in the United States senate and will moderate democratic senators vote to uphold the measured now that it is without question the largest tax increase in American history.
And joining me now from DC with the very latest on this battle a much more of the often -- guy as a possible VP -- for governor Romney the chairman of the House Budget Committee.
Wisconsin congressman Paul Ryan congressman good to see a lot about -- it.
Good to be at the HI don't.
But this was sold to the American people as not being attacks.
Supreme Court has weighed in it is what we said it was those of us that a conservative its attacks why was this important today.
Well it was sold -- three broken promises won its attacks it's -- tax on middle income taxpayers number two.
President Obama -- health care.
Premiums will go down now they went -- -- went up about 2500 dollars number three he said if you like the -- you had he can keep it well now we're finding that millions of people.
Our poll poised to lose their health insurance once this becomes effective so.
It was sold on misleading grounds.
And we really believe.
That if these facts were known then -- -- pass it would never passed.
So we want to revisit this issue of course but what we're also trying to show is look we didn't get to the Supreme Court we did not get the stream court to not this bill down.
So there's one more chance and that's basically what's being -- said.
One more opportunity in this is up to the American people.
Through their elected representatives.
To repeal and replace this law and what we're demonstrating today is that the house representatives here and ready to do that.
The question now is the United States senate and the president obviously they're not -- -- do that that means the people of this country to this election.
Need to give us a better United States senate -- elect Mitt Romney president so you finally repeal replace this loft which was passed on a whole series of broken promises.
Billy what's interesting to me now now that it's attacks and you guys -- -- -- before and it hasn't gone anywhere.
So now the question is you know -- Claire McCaskill and John tester and and Bill Nelson.
And Joseph mentioned all the democratic senators.
That are up for reelection at they gonna have to vote up or down on this the largest tax increase in history is that gonna happen in the senate.
I doubt -- it's up to Harry Reid he decides whether he wants to make them take that -- not what do you think he'll do you want do that.
I don't think he wants to put those vulnerable Democrats up to making these kinds of votes just like for three years.
He has prevented them from having to vote on a budget even though the law says we have to pass a budget every year he has not.
Had them vote on a budget for three -- are still living under the Obama budget of 2009 it's a constitutional mandate on trying to understand constitutionally.
You know what congress spends money.
How is -- possible you don't even put forward pass a budget -- was a possible.
The 1974 budget act says that congress both the house of the senate has to pass a budget by April 15 it's tax day for Americans but to date from for congress.
They've simply chosen to ignore the law the problem is there's really no consequence in the statute.
For a knowing the law and I think they basically made the calculation.
It's better that we just do nothing and take the heat for that.
They show the country all the tax increases that are required to fulfill the spending vision that we have -- remembered Sean.
All the tax increases the president's talking about they don't even pay for a fifth of its proposed deficit spending it just goes for spending.
And not to mention the fact that you know he raise the debt five trillion dollars in four years they're proposing far more debt increases.
In the next five years of the president gets reelected right New -- job.
We keep hearing that Social Security is gone bankrupt we keep hearing Medicare as is is going bankrupt.
You kind of scared -- the last time -- on this program as you said that we have basically two to three years.
Before the bond markets abandon us.
And meeting that they will they will not feel comfortable lending the US money any longer.
He's still stand by that and what specifically did you mean.
Yes so this isn't my prediction this is the prediction of economists and budget and bond experts that come and testify before our committee.
But tell us.
Just like in Europe America is not gonna deal tomorrow at such low rates and we'll have a debt crisis in our hands what a -- crisis means it is.
All those people who lent us money which half of our our our borrowing comes from China Japan and other countries.
They're not gonna let us money at these cheap rates -- we'll have a huge spike in interest rates we'll have a debt crisis will have to respond rapidly.
To appease them the debt markets the bond markets so we can avoid a catastrophe.
That means cutting benefits to current seniors raising taxes that slows down the economy which is exactly what Europe is doing.
And what were trying to be Sean is preemptive preventive debt crisis get our spending under control balance our budget prevent the death from getting out of control.
And reform the tax code to create jobs and growth in this economy to get people back to work.
Economic growth in spending control and entitled reforms of the key.
Recipe of -- of what we're trying to do to prevent detect crisis from happening and we think the next president and the next congress will basically decide how this all goes.
But any time anyone -- with this and this goes to a question investor in the -- -- if you wanna save Medicare and Social Security from bankruptcy.
There's -- Paul Ryan lookalike -- -- grainy over the cliff.
I mean -- -- -- that all right but let me look -- give -- thirty seconds let me throw you out -- where we are economically don't want it and -- it.
Considering you study these numbers that more than anybody else tell -- what this means first time in US history are sovereign.
Was downgraded first time in history.
We have spending as a percentage of GDP is the highest since World War II we -- the budget deficit and debt as a percentage of GDP.
The highest since World War II.
Our long term unemployment employment right now in this country is the highest since the 1930s the decade of the Great Depression.
We have homeownership now at the lowest level since 1965.
The highest percentage of people 49% pay no federal income tax.
And the highest -- the largest number of people.
In the country that are now getting a -- -- -- -- And got the highest poverty rates and record more people in poverty -- -- -- post that was measured it.
And food stamps and on the worst quarter of of economic growth of job creation in two years.
This is all under the president's economic policies and our argument is.
That the president's policies are bringing this about this is why we need to elect Mitt Romney president this is why we need it's a senate Republican majority.
So that we turn the stuff around and fix it before it gets too late before we become a nation of net takers vs makers before we have a debt crisis.
We see two big tipping points coming in this country.
Which will be very difficult to come from the debt crisis which will be a European like situation where we have -- managed decline is stagnant.
A crisis of more more people -- the government.
As the provider of their livelihood instead of themselves.
What we -- an upward mobile society we wanted to have up it's a safety net not a hammock that lulls people allies of dependency complacency and we're worried that the president's taking us down that wrong path.
-- it's -- as you would bother watching you know look what's happening in Greece and Spain and Ireland in and Portugal.
And in Europe in general we see we see what's happening -- you say that that's gonna happen here we have sixteen trillion dollars in in debt.
Do you really believe we can.
Begin the process of of balancing our budget and pay that off I mean that it did Scott -- election tell -- that the American people really desire that.
Yes yes it did actually I Scott's a very close friend of mine what Scott did was he told Wisconsin nights.
Our state has problems here's my solution I think public employee should pay something for their health -- retirement benefits than he did it and you know what.
His into his recall vote was better than his vote.
The first time in points and a -- -- he -- are hungry for solutions they wanted to talk to like adults not candidate like children.
And that's why I think Mitt Romney's gonna win.
That's why I think we're gonna get the senate and I think that's why we're gonna turn this country around before it's too late.
In name is often mentioned as a VP choice for governor Romney if you were asked would you accept that.
Look I don't think it's worthwhile going into these hypothetical Sean appreciate the question but it doesn't do the running campaign any favors getting -- speculation.
I -- -- very important job and I remember thinking that's important so I was just talking off like my -- everything should tell -- something to you that you would give -- the exclusive.
Yes -- thanks.
All right congressman we're gonna watch this very closely it is a tipping point moment for the country and -- tipping point election thanks to be here you --
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