A Quote by Kent Conrad
When Republicans used reconciliation in 2001 for the Bush tax cuts, they used it to increase the deficit. The whole purpose of reconciliation is for deficit reduction!
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In 2001, Republicans used reconciliation to pass President Bush's $1.35 trillion tax cut that mainly benefited the wealthy.
Welfare reform happened with reconciliation; half the Democrats voted for it. The Bush tax cuts happened with reconciliation; twelve Democratic Senators voted for it. You didn't have a real partisan issue on those times that it was used.
Welfare reform happened with reconciliation; half the Democrats voted for it. The Bush tax cuts happened with reconciliation; twelve Democratic Senators voted for it. You didn't have a real partisan issue on those times that it was used
Reconciliation cannot be used to pass comprehensive health care reform. It won't work because it was never designed for that kind of significant legislation; it was designed for deficit reduction.
Reconciliation is a special budget procedure to change entitlement and tax laws. It cannot be filibustered and requires only a simple majority in the Senate to be passed. It is primarily intended for deficit and mandatory spending reduction
Reconciliation is a special budget procedure to change entitlement and tax laws. It cannot be filibustered and requires only a simple majority in the Senate to be passed. It is primarily intended for deficit and mandatory spending reduction.
Democrats in Washington predicted that tax cuts would not create jobs, would not increase wages, and would cause the federal deficit to explode. Well, the facts are in. The tax cuts have led to a strong economy. Real wages were on the rise, and deficit has been cut in half three years ahead of schedule.
When Republicans say, 'The first thing you do when you do deficit reduction is reduce rates,' it would be like Democrats saying, 'The first thing you do when you do deficit reduction is provide free Medicare at age 55.' We'd like to do that! But it won't bring the deficit down. That's for sure.
We can have tax cuts, but when we have tax cuts and do not have a surplus, the amount of the tax cut goes straight to the bottom line, adds to the deficit, and the deficit adds to the national debt, and sooner or later, the debt has to be paid.
The Farm Bill is one of the only bills that provides substantial deficit reduction that passed the Senate this year. It only makes sense that this deficit reduction bill would be included in a larger deficit reduction agreement.
Our practical choice is not between a tax-cut deficit and a budgetary surplus. It is between two kinds of deficits: a chronic deficit of inertia, as the unwanted result of inadequate revenues and a restricted economy; or a temporary deficit of transition, resulting from a tax cut designed to boost the economy, increase tax revenues, and achieve -- and I believe this can be done -- a budget surplus. The first type of deficit is a sign of waste and weakness; the second reflects an investment in the future.
We certainly could have voted on making the middle-class tax cuts and tax cuts for working families permanent had the Republicans not insisted that the only way they would support those tax breaks is if we also added $700 billion to the deficit to give tax breaks to the wealthiest 2 percent of Americans. That's what was really disturbing.
Only dramatic cuts in the federal deficit, a rollback of regulations that cripple small and community banks, a cancellation of future tax increase plans, a big reduction in federal spending, repeal of Obamacare, freeing manufacturing from the prospect of carbon taxation and unleashing out domestic energy potential can solve our problems. But Obama is not about to undo his legacy of disaster for the American people.
With a congressional mandate to run the deficit up as high as need be, there is no reason to raise taxes now and risk aggravating the depression. Instead, Obama will follow the opposite of the Reagan strategy. Reagan cut taxes and increased the deficit so that liberals could not increase spending. Obama will raise spending and increase the deficit so that conservatives cannot cut taxes. And, when the economy is restored, he will raise taxes with impunity, since the only people who will have to pay them would be rich Republicans.
Obama and the Democrats' preposterous argument is that we are just one more big tax increase away from solving our economic problems. The inescapable conclusion, however, is that the primary driver of the short-term deficit is not tax cuts but the lack of any meaningful economic growth over the last half decade.
Since 1980, we've used reconciliation 22 times, and out of those times, Republicans used it 16 times. So, earth to my Republican friends, you can have your option but you cannot change these facts. They're in the Congressional Record
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