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Concurrent Resolution on the Budget for Fiscal Year 2014

Floor Speech

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Date:
Location: Washington, DC

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Mr. McCLINTOCK. Mr. Chairman, I thank the gentleman for yielding. Our fiscal problem can be summed up in just three numbers: 39, 37, and 64. Thirty-nine percent is the combined increase of inflation and population over the past 10 years. Thirty-seven percent is the increase in revenues. The third number is what's killing us: 64 percent is the increase in spending. It's nearly twice the rate of inflation and population growth.

This has never been a revenue problem; it has always been a spending problem. Yet characteristic of other Democratic budgets, the Senate further accelerates spending while trying to chase it with $1 trillion of new taxes. And despite $1 trillion of new taxes, they can't ever balance their budget. And there's a reason: because it's a spending problem, and dogmatically trying to address it on the revenue side will simply drive more and more spending until we become Greece or Detroit.

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Mr. McCLINTOCK. I thank the gentleman for yielding.

Mr. Chairman, Mr. Van Hollen recently pointed out that Democrats and Republicans both want to get rid of a range of tax loopholes but Democrats want to spend that money and Republicans want to lower the overall burden. That difference is very important.

We have the highest corporate tax rate in the industrialized world. That's the principle reason why we're losing American jobs to nations with much lower taxes. As economist Arthur Laffer has warned, there's nothing more portable in this world than money.

This policy might fit the left's ``eat the rich'' crusade, but the jobs it destroys are eating our middle class alive. We are sacrificing permanent, upwardly mobile, productive private sector jobs for makeshift subsidized ones that disappear the moment the money runs out. That is precisely the difference between FedEx and the post office or between Apple and Solyndra. And that's all the difference in the world.

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