tv Key Capitol Hill Hearings CSPAN February 10, 2015 5:00am-7:01am EST
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the plan. >> keep track of the republican head congress and follow new members through its first session. new congress, best access on cspan, 2, radio and cspan.org. >> president obama met to discuss the ongoing conflict in ukraine. the white house is considering optioning ukraine backed authorities has that was asked about the tchbl offensive
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instead of having a record breaking $1.4 trillion deficit as we did when bush left office in january of 2009, the deficit has been cut by more than 2/3rds. 6 years ago the world's financial system was on the verge of collapse, today that is certainly not the case. while we can be proud of what we have accomplished in the last six years nks a lot of very bad news kmour kited.
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the female worker makes $1,300 less than she did he in 2007. we continue to have the highest rate of childhood poverty of any major country on earth. in the midst of this tragic decline of america's middle class, there's another reality. i want to make this that is that the large hoorpgs wults the food today has any mr we are than any time since the great depression. today, incredibly, and witnessed
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sfrarnltd and i hope that it comes after a break through year for america including the fastest fastest this means helping working families by making their paychecks go come. the budget shows that we don't have to choose between investing in the middle class and being fiscally responsible of the first, i proposes to skb of
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thank you and i'd be glad to take your questions. wow. you didn't even come close to seven minutes. >> i'm under my budget. >> we do appreciate that. we will turn to questions. last week when the cbo director elmondorph testified, he it a good job simply answering the questions asked by senators so i had wphed as much asked and answered as possible. i will alter recognition between republican and democrated zbrmd
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recognize nebs nbsz snksz rand with that director i will begin with my first question. you testified that stabilizing the debt as a share of the economy is putting it on a declining path is the key test for fiscal sustainability but that still goes up every year in the presidential dollar change and the economy. i don't think people understand gdp even though we're getting record revenue, why is it a sufficient goal to merely tread water on a debt of a share of gd
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gdp. >> sorry. thank you. i apologize. i think like any family in america the key way they think about their finances is based on what they earn. so gdp is really a measure of what this country earns, the size of our economy and most numbers think of sharing this as a correct no doubt testify tp we show debt growing to almost 81% of gdp so with this $1.8 trillion of deficit reduction that our budget would achieve we actually help to not just
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stabilize but also begin to bring down the debt by the end of the window and that is a substantial difference from our current path. >> in looking at it, the president low.to secure the middle class, we need to pay down the debt and that's not possible with overspending this large. can we pay down the debt without balancing the budget? >> again, senator arch the key metric for fiscal sustainability is able
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or not it is appropriate that one large major profitable corporation paid zero in federal income taxes? >> well, senator i think we can all agree on a bipartisan pace is basis that our current tax code is more complicated than it needs to be and it has a broad range of loopholes that create not just unfairness across companies but also frankly make our economy less efficient and poled backeconomic growth and+++ m
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