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Concurrent Resolution on the Budget for Fiscal Year 2013

Floor Speech

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Date:
Location: Washington, DC

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Mr. SCHWEIKERT. Thank you to my good friend.

We actually did this on the floor last night. Part of it was an attempt to sort of help folks through some of the absurdity of the rhetoric compared to the reality of math.

One of the fun slides we brought on is using the current budget numbers and the fact that we're borrowing about $3.5 billion a day. We actually have this one board--and we're putting it up on our Web site--that actually shows a clock. On that clock it has some of the President's budget policies. And one in there is one we've already sort of heard talked about or alluded to, and people like to call it the ``Buffet Rule.'' Well, do you realize that all of the rhetoric around something like the Buffet Rule and those new taxes and those needs for those folks to pay more would pay for--I think we came up with 3 minutes and 30 seconds. It would cover 3 minutes and 30 seconds of borrowing a day.

We did some slides earlier that talked about not just taxing Big Oil, but if you taxed all fossil fuels. And what we're talking about is getting rid of their depletion allowance and actually going after their depreciation tables. That came out to about 2 minutes and 30 seconds of covering borrowing a day.

The reason I stand behind this microphone right now is the political theater of--it's great rhetoric. I'm sure it's nice and poll tested. But it doesn't solve any of the problems. That's why this is a joyous moment to see the other side stand up and embrace the President's budget with such enthusiasm.

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