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Rep. Chris Van Hollen, (D-Md.), on infrastructure investments to boost the economy and efforts to reduce the government’s debt.
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Government going forward reaction now from.
Democratic congress and Chris -- on a key member of the House Budget Committee ranking member of their congress -- good to have you.
Cognitive Buick female I wanna -- odds on essentially that inherent difference in the Republican and democratic abroad Marco Rubio is.
Cool it on government the presidents embraced government and they get a.
On the -- I listen very carefully to the president's speech in just now to Marco Rubio speech shot the president was very clear.
That government action is not the answer.
To all our problems that in fact the United States we value individual initiative.
But the president was equally clear that there are some things we can do better by working together for example.
Investing in our infrastructure in our roads our bridges and our highways are traditionally.
That has been a bipartisan public investment.
Investing in basic research.
Before companies are willing to themselves invest -- it because it's too speculative.
I thought the president's call for new investments.
In in science and research to help propel our economy.
It was really important so the question is not more government less government of the big that issue as.
Government plane -- an appropriate role in those places.
Where we're better off working together and I did you -- it.
Do that congress that I do not talk about infrastructure many -- signs and that everyone you know lunacy idea fixing roads and bridges and and get out to -- -- find the between highway dolls and surtax the gas taxes.
And special transportation excise taxes and a host of others.
You a big goal erodes the table goal right now and and and I don't know whether that requires that it lockbox and the sort of have to go just of that.
But invariably these infrastructure funds never go.
Citi infrastructure fix so why would now be any different I would be.
-- Angela good money after bad make any difference at all.
Well actually.
Actually -- that transportation dollars the -- of the trust fund are going.
To transportation.
Projects -- the problem is there's a shortfall.
Our right now so.
We get a failing grade of problem nonpartisan groups like the American society for civil.
Engineers.
I'll look at the issue is there are certain parts of our economy.
Like basic scientific research which helped.
Watch the space program which led to very many important developments including money that -- -- the foundation for the -- I know but that's what he had money partners and we don't have any money -- I guess we can't strategically invest that we don't have.
I guess what fast he nearly as I understand we can just create money make money above my worried congressman -- -- gotten in this.
Says I heard very little under the brother and about whether the debt is such a big issue we should address -- at all.
And that but it does cut to close a blue balls and the like maybe that's the way.
To close certain -- these next you know budget goals that may be good you know Lou -- go after dark blue balls and bats and birds -- -- But very little in terms of cutting spending of the presidency to be saying.
The floor trader I've roughly agreed to even though no one could read anything yet is about as far as I'm gonna go tonight hear that right.
Well I I heard very clearly got -- to -- say for example when it came to.
-- Medicare savings.
That his proposal would be equal.
The Medicare savings from the bipartisan Simpson Bowles commission as you head into the next.
A decade in other words his plan will be more aggressive in terms of -- bending that cost curve now.
The president is also clear that he won't do it simply by transferring those rising healthcare cost onto the backs of seniors which is what the Republican Ryan.
Rubio voucher plan would do.
-- but he talked about other ways of doing it for example asking the pharmaceutical industry to pay greater rebates but also changing the way we.
-- -- -- -- But I don't anyway anything -- -- in -- -- -- -- -- you know these numbers probably better than most anyone's that that is going to.
Take a debt that's now it puts it sixteen trillions that under the most ambitious plan to turn toward trillion.
Over ten years is still gonna -- money -- plus in ten years is there any word tonight.
On either side.
That encourages you to think we will ever get a handle on or -- or we just given up.
Now what what we should definitely not give up I mean our our long term deficits.
And long term debt are significant challenge for the economy we have to remember -- The deficit is important to the extent it has a negative impact on economic growth right.
So our goal has to be in the near term.
To make sure that our deficits are not growing faster than the economy.
And to stabilize our debt.
But the focus should be as the presence ahead.
On building a middle class making sure we have a stronger middle class making sure that wages are going up not just for folks at the very top outlook for middle class Americans that soon.
-- sectors are on the -- as far as you're seeing in these banks don't get overbought at -- we we we did it on the tax and we divided we did.
But it seems like this thing was more.
We can do on the tax credit more we will -- Zero let me ask you -- you you know speaker Boehner.
Like Mitt Romney before him.
I talked about how they're all these tax breaks in the quote write loopholes that right disproportionate so Mitt Romney talked about all -- -- They're still there we did we have a -- Still -- I guess what it's saying is it's are easier for you and others to say.
Go after those loopholes guards -- those tax -- Much more aggressively than you would it going after spending that's what I -- years now another -- -- that's not what I'm saying I support.
A balanced approach meaning reducing in his cabinet on Gaza and it -- hundred rebounds and -- -- me.
Well we'll wait a minute we leave we did as part of the budget control act and other measures we take over the last couple years.
We reduced spending by one point five trillion dollars by placing.
Caps on spending that's a 100% spending.
Now the fiscal -- agreement to avoid -- fiscal plan.
Resulted in 600000000600.
Billion dollars in additional revenue from higher income to you how you handle all that's doable or what's gonna happen.
-- now so we need to build on that model we need war.
Hot hot targeted cuts not -- across the board sequestered which will hurt the economy that is a really dumb way to deal with this.
We need targeted predictable -- but we should also.
Hot the tax breaks in the code which after all are just -- way to spend the money through the tax code is the plus side.
Of other kind of your -- services.
Percent on.
Thank you very much could see you again it's always good be written and explored not.
