they were applauding the efforts. they think the problem is healthcare. i completely disagree with that and do not wish to see further burderns. i s upport this bill. i like that the defense budget was put on the table in a

serious way. the fact that these tax exxpenditures will be scrutinized. it is very positive. it has been constructive. we ill see a reflection. >> do you see any common ground from house republicans? >> it will be difficult. we are likely to see that now. we only got a couple of republican votes to extende middle class tax cuts.

we are still seeing a stark divide here. >> if you use this reform -- this plan -- do you see the redistribution that goes on with the tax reform plan? >> i think the w aay that the not diminish do this divide. i think this is something we have to address not only in the tax code, but when we look at

the way we are spending money and who pays. i think it is most important. the notion of putting the whole code is important. do we think we will eliminate all of the expenditures? my fear is that we lower the rates and then we still have these tax expenditures that are very popular and that have a constituency. >> you mentioned the quality. i wonder how the effective you

think an argument on quality can be in shaping the deficit reduction toward the middle class? >> i think the american people feel they are struggling with a mortgages. i think they feel the rich have gotten off with something. they are the ones who are really the losers in all of this. there is an anger that it is unfair. i i think it is a more powerful driver than people think. it is not just income and equality. if you say coming to you think it is fair that the wealthiest are continuing to spend at tiffany's and to see their

incomes rise even as you are facing these challenges, is that really fair? i think that will help this debate. >> you have a 100% opposition from the house republicans. >> if you talk to them, they will individually tell you that a paul rand said 85% of what we propose will be in his budget. it could not get any better than that. it is really a great idea. >> and partisan approach can wear. >> your lessons are all wrong. hugh really do.

-- you really do. this is a non-partisan activity. they work together. they worked together. that is what made this unique. going forward, this trust has been established. this is exactly what we did in 1997. we build up trust. we built the common ground. >> will they use anything? >> he is the new budget director. he said secretary geithner like

to discuss it. you will have to ask him for the. i will go home. >> what the next debt is is up to the people. he called and asked if he and secretary timothy geithner commitmencould meet as a whole. this is just the beginning of the congress and the president having to take it. we have got to bring down spending. thank you very much. >> next, president obama speaks to u.s. troops in afghanistan. after that, the report on

november unemployment figures. then remarks by vice president biden. he will discuss his lesser- known non-fiction work. join our 3 our conversation sunday on c-span2. >> this weekend, an oral history interview with the assistance special prosecutor during the watergate case prevent it talk about the 1976 presidential election -- watergate case. they talk about the 1976

presidential collection. many feel the south peaked momentarily in 1863. >> president obama made a surprise visit to afghanistan when he addressed to u.s. troops. he also met with david petraeus . >> we've got to try that again. how about an air assault? anyone want to say "air power?" >> air power.

>> are you ready for the main event? are you sure about that? ok, here is the deal. a couple of years ago, my air assault body at the time, major morgan hill told me what he looks for in a commander. he listened -- he listed all of the usual qualities that you would expect, you know all of the ones. and then he added that he also wanted a commander who is available to our troopers and who is accessible to our troopers and was approachable. as i thought about it, i realized that in addition to all of the qualities that we expect in leaders, i also look for those specific attributes. this evening, it is my honor to

introduce to you as a leader who has demonstrated his concern for each of you. he met with a platoon of suffered a traffic loss and has proven above all that he is available, accessible and approachable by flying halfway around the world to be with us tonight. fellow warriors, please join me in welcoming the leader who made the tough decision to provide us the resources that have enabled progress here in afghanistan, the president of the united states of america, our commander in chief, president barack obama. ♪ ♪

[laughter] [applause] [applause] >> before the president starts, i think that you all know that the president was out on the basketball court a few days ago. he had beaten that team four times already. he scored on the guy and elbows started flying around. the only explanation we can come up with is that they forgot who they were playing with. sergeant major hill, still might their assault body decided we would give him a t-shirt. it's not the biggest, baddest, is an eye-snap t-shirt.

then, the commander of hundred and 4 should -- be 101st air force division came up with a more manly t-shirt. no one will mess with you if you wear this mr. president. >> hello, everybody! [applause] i'm sorry, bagram, i can't hear you. [applause] air assault! [applause] it is great to be back. let me first of all thank the 101st airborne division band. where's the band? give them a big round of applause. thank you. [applause] to chief thomas hager and to the commander and conductor. i gather we had a couple of other bands playing, manifest destiny and nuts. i don't know about, you know -- i don't know how they sounded. what did you think?

were they pretty good? [hooah!] it is great to be back. and i apologize for keeping you guys up late, coming on such short notice. but i wanted to make sure that i could spend a little time this holiday with the men and women of the finest fighting force that the world has ever known, and that's all of you. [applause] i want to thank general petraeus, not only for the introduction and the t-shirts, but for general petraeus's lifetime of service. this is somebody who has helped change the way we fight wars and win wars in the 21st century. and i am very grateful that he agreed to take command of our

efforts here in afghanistan. he has been an extraordinary warrior on behalf of the american people. thank you, david petraeus. [applause] i want to thank all your outstanding leaders who welcomed me here, including general john campbell; admiral bill mcraven from the 455th air expeditionary wing; colonel todd canterbury. i want to salute your great senior enlisted leaders, including command sergeant major scott schroeder -- [hooah!] -- command sergeant major chris farris, and command chief craig adams. [hooah!] i also want to acknowledge the outstanding work that our civilians are doing each and every day, starting with karl eikenberry all the way through to your senior civilian

representative thomas gibbons and all the civilians who are here. they are fighting alongside you. they are putting themselves at risk. they are away from their families. and we are very, very grateful to them as well. so give them a big round of applause. [applause] i think we've got every service here tonight. we've got army. [applause] we've got navy. [applause] we've got air force. [applause] i think we may have a few marines around, too. [applause] and a whole lot of folks from the 101st airborne division, the screaming eagles. [applause] here in afghanistan, you are all -- coast guard, is that what

i heard? [laughter] here in afghanistan, all of you are part of one team, serving together, succeeding together, except maybe in next week's army-navy game. as your commander-in-chief, i've got to stay neutral on that. [laughter] we also have some isaf partners here as well. you know, when i was here in the spring, we had a coalition of 43 nations. now we've got a coalition of 49 nations. and this sends a powerful

message that the coalition of nations that supports afghanistan is strong and is growing. now, i'm not here to give a long speech. i want to shake as many hands as i can. [hooah!] but let me say that at this time of year, americans are giving thanks for all the blessings that we have. and as we begin this holiday season, there is no place that i'd rather be than be here with you. i know it's not easy for all of you to be away from home, especially during the holidays. and i know it's hard on your families. they've got an empty seat at the dinner table. sometimes during the holiday

season that's when you feel the absence of somebody you love most acutely. but here's what i want you to know. as president of the united states, i have no greater responsibility than keeping the american people secure. i could not meet that responsibility, we could not protect the american people, we could not enjoy the blessings of our liberty without the extraordinary service that each and every one of you perform each and every day. so on behalf of me, on behalf of michelle, on behalf of malia and sasha, on behalf of more than 300 million americans, we are here to say thank you. [hooah!] we are here to say thank you for everything that you do. now, i also want to say thank you to your families back home so that when you talk to them you know that they know. [applause] they're serving here with you -- in mind and spirit, if not

in body. millions of americans give thanks this holiday season just as generations have before when they think about our armed services. you're part of an unbroken line of americans who have given up your comfort, your ease, your convenience for america's security. it was on another cold december more than 200 years ago that a band of patriots helped to found our nation, defeat an empire -- from that icy river to the fields of europe, from the islands in the pacific to the hills of korea, from the jungles of vietnam to the deserts of iraq, those who went before you, they also found themselves in this season of peace serving in

war. they did it for the same reason that all of you do -- because the freedom and the liberty that we treasure, that's not simply a birthright. it has to be earned by the sacrifices of generations -- generations of patriots, men and women who step forward and say, send me. i know somebody has got to do it, and i'm willing to serve. men and women who are willing to risk all and some who gave all to keep us safe, to keep us free. in our time, in this 21st century, when so many other institutions seem to be shirking their responsibilities, you've embraced your responsibilities. you've shown why the united states military remains the most trusted institution in america. that's the legacy that your generation has forged during

this decade of trial in iraq and here in afghanistan. that's the legacy that you're carrying forward. as general petraeus mentioned, one year ago i ordered additional troops to serve in this country that was the staging ground for the 9/11 attacks. all of those troops are now in place. and thanks to your service, we are making important progress. you are protecting your country. you're achieving your objectives. you will succeed in your mission. [hooah!] we said we were going to break the taliban's momentum, and that's what you're doing. you're going on the offense, tired of playing defense, targeting their leaders, pushing them out of their strongholds. today we can be proud that there are fewer areas under taliban control and more afghans have a chance to build a more

hopeful future. we said a year ago that we're going to build the capacity of the afghan people. and that's what you're doing, meeting our recruitment targets, training afghan forces, partnering with those afghans who want to build a stronger and more stable and more prosperous afghanistan. i don't need to tell you this is a tough fight. i just came from the medical unit and saw our wounded warriors, pinned some purple hearts. i just talked to the platoon that lost six of their buddies in a senseless act of violence.

this is tough business. progress comes slow. there are going to be difficult days ahead. progress comes at a high price. so many of you have stood before the solemn battle cross, display of boots, a rifle, a helmet, and said good-bye to a fallen comrade. this year alone nearly 100 members of 101st have given their last full measure of devotion. there are few days when i don't sign a letter to a military family expressing our nation's gratitude and grief at their profound sacrifice. and this holiday season our thoughts and prayers are with those who've lost a loved one -- the father and mother, the son or daughter, the brother or sister or friend who's not coming home. and we know that their memories

will never be forgotten and that their life has added to the life of our nation. and because of the service of the men and women of the united states military, because of the progress you're making, we look forward to a new phase next year, the beginning of a transition to afghan responsibility. as we do, we continue to forge a partnership with the afghan people for the long term. and we will never let this country serve as a safe haven for terrorists who would attack the united states of america again. that will never happen. [hooah!] this part of the world is the center of a global effort where we are going to disrupt and dismantle and defeat al qaeda and its extremist allies. and that's why you're here.

that's why your mission matters so much. that's why you must succeed -- because this effort is about the safety of our communities back home and the dignity of the afghan people who don't want to live in tyranny. now, even though it is a hallmark of american democracy that we have our arguments back home, we have our debates, we have our elections, i can say without hesitation that there is no division on one thing, no hesitation on one thing -- and that is the uniform support of our men and women who are serving in the armed services. [hooah!] everybody -- everybody is behind you. everybody back home is behind you. everybody, from north to south to east to west, from sea to shining sea, the american people are united in support of you and your families. and as your commander-in-chief, i also want you to know that we will do whatever it takes to make sure that you have the strategy and the resources and the equipment and the leadership to get this done. you may have noticed that during these tough budget times, i took the step of freezing pay for our federal workforce. but because of the service that

you rendered, all who wear the uniform of the united states of america are exempt from that action. [hooah!] and we're going to make -- we're going to spare no effort to make sure that your families have the support that they deserve as well. that doesn't just matter to me. it's also a top priority for michelle -- to make sure that americans understand the sacrifices that your families are making. as she likes to say, 100 percent of americans need to be right -- they are supporting you and your families -- 100 percent. only 1 percent are fighting these wars, but 100 percent of us have to be behind you and your families. your generation, the generation of afghanistan and iraq, has met every mission that you've

been given. you've served tour after tour. you've earned not just our admiration; you've earned your place in american history alongside those greatest generations. and the stories of those who served in these wars are too numerous to tell. but one of my greatest privileges as president is to get to know the stories of those who earn the medal of honor. two months ago, i presented the

medal to the parents of staff sergeant robert miller, who gave his life here in afghanistan as a member of the green berets. his valor, charging toward some 150 insurgents, saved the lives of nearly two dozen american and afghan comrades. last month, we held another ceremony. for the first time in nearly 40 years, the recipient of the medal of honor for an ongoing conflict was actually able to accept it in person. his name is staff sergeant salvatore giunta. and some of you may have seen his story, but i want to tell it again tonight because of what it says not just about our armed forces, but also what it says about the country that we love. so three years ago, sal and his platoon were in korengal valley. when their patrol was ambushed, two americans lay wounded up ahead. that's when sal and his men counter-attacked. again and again and again, they were being rained down with fire. but they just kept counter- attacking because they wanted to get their two buddies. and when he saw one of his teammates wounded and being carried away by insurgents, sal rushed in to help his friends -- despite the bullets. despite the danger, he kept on pressing forward. it was an incredibly intense firefight.

and by the time it was finished, every single member of that platoon had shrapnel or a bullet hole in their gear. five were wounded, and two had given their lives. now, sal is a pretty humble guy. and so when he came to the white house he said, "you know, i didn't do anything special." he said he was just doing his job, that he didn't do anything that his brothers wouldn't have done for him. "if i'm a hero," he said, "then every man who stands around me, every woman in the military, every person who defends this country is also a hero." and he's right. each of you has your own story. each of you is writing your own chapter in the story of america and the story of american armed forces. each of you have some losses.

each of you have made sacrifices. you come from every conceivable background -- from big cities and small towns, from every race and faith and station. you've come together to serve a greater cause, one that matters to the citizens of your country back home and to strangers who live a world away. so make no mistake, through your service, you demonstrate the content of the american character. sal is right -- every single one of you is a hero. some people ask whether america's best days lie ahead or whether our greatness stretches back behind us in the stories of those who've gone before. and when i look out at all of you, i know the answer to that. you give me hope. you give me inspiration. your resolve shows that americans will never succumb to

fear. your selfless service shows who we are, who we always will be -- united as one people and united as one nation -- for you embody and stand up for the values that make us what we are as a people. america is not defined by our borders. we are defined by a common creed. in this holiday season, it's worth remembering that "we hold these truths to be self- evident, that all men are created equal, that we are endowed by our creator by certain inalienable rights, that among these are the right to life and liberty and the pursuit of happiness." and that's what you're fighting for here in afghanistan, and that's what you're protecting back home. and that belief is more powerful than any adversary. so we may face a tough enemy in afghanistan, and we're in a period of tough challenges back home, but we did not become the nation that we are because we do what's easy.

as americans we've endured and we've grown stronger, and we remain the land of the free only because we are also home of the brave. and because of you, i know that once more, we will prevail. so thank you. god bless you, and god bless the united states of america. [hooah!] [laughter] thank you, everybody, and happy new year. thank you, everybody. god bless you. ♪ ♪

one could end up going to prison. one just might be president. ♪ only in america ♪ dreaming in red white and blue ♪ only in america ♪ or we dream as big as we want to we all get a chance

everybody gets to dance ♪ only in america ♪ sun going down on an l.a. freeway ♪ newlyweds in the back of a limousine ♪ a welder son and a banker's daughter ♪ all in one is everything -- all they want is everything ♪ she came out here to be an actress ♪ he was the singer in the band ♪ they just might go back to oklahoma ♪ and talk about the stars they could have been.

♪ only in america ♪ were we dream in with white and blue ♪ only in america ♪ where we dream as big as we want to ♪ we'll get a chance ♪ everybody gets to dance ♪ only in america ♪ only in america ♪ where we dream in red, white and blue. ♪ only in america ♪ were we dream as big as we want to

♪ we'll get a chance ♪ everybody gets to dance ♪ only in america americanly in where we dream in red, white and blue. yak, we dream as big as we want to ♪ only in america ♪ ♪

>>, next, and the report on november's unemployment figures. after that, the final meeting of the national commission on reform.

>> without the treaty being ratified, we do not have a verification that the knife to ensure we know what they have built. they do not know what we are doing. when you have uncertainty, that is a much more dangerous world. >> find out more about the nuclear arms treaty with russia, what it might accomplish, where it stands now, and the history. searcdh, watch, and share. >> i am the education specialist here. lee conduct a studentcam competition. if they think critically about issues facing our nation. we like he to explain how the

federal government has affected something in your life or community. pick a topic that interests you. the goal is for you to develop and research your topic, and include c-span footage of what he had seen burd. you can visit studentcam.org. go get started. we cannot wait to see what you can do. >> unemployment rose to 9.8%, adding 39,000 jobs in november, far below the expected growth. keith hill gave the unemployment numbers to the joint economic committee on capitol hill. he tell members that were intended to give 5000 jobs -- 125,000 jobs needed to be added. this is one hour predella.

>> ok. will mark theg last hearing. my first hearing was also with commissioner paul. the need to present was rather grim. the economy had shed a staggering number of jobs. today's news is a little better. we are heading in the right direction, but not as strongly as we wanted. today's employment report showed that the economy added 50,000 private sector jobs last month, making november the 11th

straight month of employment gains in the private sector. we can see that in the charge over there. since the beginning of the year, the economy has added 1.2 million jobs in the private sector, private payrolls grew by an average of seven 9,000 t per month in the first quarter of 2010 -- 79,000 jobs per month in the first quarter of 2010, 124,000 jobs in the third quarter. while job creation has picked up, the unemployment rate remains unacceptably high. this morning's employment report shows that the employment rate -- the unemployment rate edged up to 9.8% in november. in addition to overall private- sector job gains, gdp grew by 2.5% in the third quarter of 2010 due to stronger consumer spending.

this the fifth consecutive sales of risen steadily for the past four months, excluding more volatile sales of cars and gasoline, retail sales have risen steadily since june. when i became a chair in january 2009, the economy was still reeling from the shocks of the great recession. one of the people who testified

was christina romer, and she testified that our economy endured shocks during this recession there were even greater than the economic shocks of the great depression. this committee has monitored the employment situation and track its rebound over the past two years. the joint economic committee issued over 40 reports. in 2010, consistent with its mission to monitor the unemployment situation of the country, the jec focused on job creation, holding hearings on problems in the labor market and solutions to spur employment. job creation was also the single focus of the jec annual report. while the economic shocks of the great recession will take time to heal, our economy has made progress in the past year. the policies that democrats and congress put into place over the last year, working. policies to matter. we passed the hire act, which has a payroll tax credit for businesses that hire unemployed workers, we passed legislation to promote hiring by small

businesses, the engines of job growth in our economy, providing additional tax incentives to small businesses, inserting a $30 billion access to credit loan program, and raised the cap on sba 7a loans from $2 million to $5 million. we provided additional funding for teachers. the department of education estimated at 140,000 teachers jobs were saved because the increase and funding. we passed legislation to help domestic manufacturers by reducing tariffs. the extended unemployment benefits to unemployed workers who have been hard hit during this recession. it did not raise the number of weeks that the unemployed workers could receive benefits, but it did reauthorize the program so that unemployed workers could continue receiving those critical

benefits. however, we are all aware that the latest extension of unemployment insurance benefits ran out this week. for most of the unemployed, the expiration of these benefits will mean that unemployed benefits will stop as soon as they enter the 27th week of unemployment at a time when more than 40% of the unemployed have been out of work, at least 57 weeks. if congress does not act quickly to renew the benefits, nearly 2 million and put workers will lose benefits during the holiday season -- nearly 2 million unemployed workers will lose benefits during the holiday season. all the preliminary -- although preliminary reports show an increase in consumer spending from electronic -- from black friday, prematurely ending the unemployment insurance benefits program will drain the economy of $80 billion of purchasing power and cost the economy up to 1 million jobs over the next year. according to the nonpartisan

congressional budget office, unemployment benefits are one of the most effective tools of boosting economic growth and employment, allowing the federal unemployment insurance program to expire when the unemployment rate is well over 9% would be absolutely unprecedented. for every recession that is called for congress to provide emergency unemployment benefits over the last six decades, congress has never left those benefits expire with an unemployment rate above the 7.4%. this is a tragic time to break from president -- precedent, and 40 millio -- i unfair to millions of them is counting on these benefits. -- unfair to millions of families counting on the benefits. i go back to -- i yield back the balance of my time and recognize my good friend and colleague on the other side of the aisle, congressman brady. >> like all americans hoping for an economic turnaround, it

has been a difficult two years with members of the joint economic committee, with reports month after month showing americans out of work with exceptionally high rates of unemployment. for folks on this committee, the employment situation is a critical part and no other part of the economic well-being is more important than the ability of our citizens to find productive work. dr. hall has said the difficult task of presenting reports on the bleak employment conditions to us, and has done so in a professional and insightful matter. i want to thank him and his

staff at the bureau of labor statistics. i will come -- i welcome dr. hall again this morning. chairman maloney has held hearings on many aspects of the market. i want to thank the chairman for compassion and dedication in the committee's agenda. we appreciate her leadership in many ways, and i again thank you for your many months and many hours of hard work. senator brownback will be leaving the u.s. senate next year to pursue new duties as the governor of the state of kansas. i sincerely thank him for his services as a member of this committee, and congratulate him on his new leadership position. i thank him and wish him best in the state of texas -- kansas. it is in the front of my mind. [laughter] the unemployment picture unfortunately remains bleak. the unemployment rate increased 9.8%, mainly due to an increase in the number of jobs lost, not an increase in new jobs figures. this month, 39,000 added in

peril employment, was a great -- added in payroll employment, was very disappointing in terms of expectations. nearly $5 trillion of fiscal and monetary stimulus, 101,000 fewer jobs in america that when the recession officially ended. if we were to compare today's 9.8% of unemployment rate to what the white house promised when we passed a major stimulus, they projected that the unemployment would be 7% this month, instead of 9.8%. this economy is held back by consumers doubtful of the president's ability to manage this economy and businesses

discouraged by washington democrats and job-blocking regulations. yesterday's actions to raise taxes on the very consumers and businesses most likely to pull us out of the economy is more of the same economic policies that have hindered america's recovery. economic indications would tell us that we're just making a painfully slow recovery. payroll employment is not significantly different from 17 months ago.

but it is to weaken private sector growth is too slow -- it is too weak and private sector growth is too slow. in the ronald reagan recovery, after the severe 1981-1982 recession, total payroll employment increased by 5 million and the unemployment rate had fallen by 3.1 percentage points. why is the current recovery so weak? one of the timeless explanation is this -- with less than a month ago before the tax bomb goes off, americans are facing dire uncertainty. we cannot expect businesses to take on large numbers of additional employees when the government is raising costs for employing them gainfully. yesterday's house bill was dead on arrival in the senate. not to be to blunt, but i think it was a dumb economic move. to make matters worse, within a few days, the federal government will run out of money. congressional democrats and the administration is not tending to their responsibilities. the frantic rush to band-aid fixes is no way to fix the economy. anti-growth tax rates, out of

control federal spending, and the enormous national debt buildup have -- health care policies and the failed stimulus -- the burdens and the uncertainty they created contribute to why this economy is not recovering faster economic growth and more rapid job creation -- if we are to see faster economic growth and more rapid job creation, the government cannot take up positions against business, investment, oil and gas and coal production, and free trade and expect the economy to grow. based on minimum wage increases, extension of unemployment benefits, subsidies -- the u.s. economy does not work this way and i doubt that there are any that do. the administration has been hearing much from national

leaders are on the world i am hopeful they will listen. i look forward to hearing the testimony. >> i thank the gentleman for his comments, i must feel that i must respond to some inaccuracies. we have made progress during the past year of the obama administration by adding almost 1.2 million private sector jobs. when you compare that to the eight years of former president bush, this country it lost 663,000 private-sector jobs. although president bush inherited over 8 $5 trillion surplus, he left with a huge deficit and debt. indeed, the last month he was in office, this country lost over 750,000 jobs. the bush tax cuts did not help the bush administration create jobs. in fact, they overall lost jobs

and his administration. but with the focus on the economy, we're moving in the right direction under president obama, and just yesterday we passed a tax cut to all americans, and it's got to the senate and we have moved the process forward. we look forward to the response of the senate and moving in a balanced direction to create jobs and grow the economy. i recognize the distinguished senator, the great senator klobuchar. >> thank you, ms. chairman. i want to thank you for your service on this committee. it has been an honor, and i also commend you and congressman ready for the way you have run these meetings. congressman brady, thank you

for your leadership and the court to serving with you on the committee next year. -- i look forward to serving with you on the committee next year. there's a lot of work we need to do odd jobs on the economy, and i guess we start here today. no one is pleased when we have this unemployment rate, but i also think the people of this country understand that we cannot dig out of this hole in one month. it is a free trade going 300 -- freight train going 300 miles per hour, the way the wall street crisis occurred and everything else in this country. the jobs added in november to the economy -- it is important to note that we're one month shy of one year of employment gains and the private sector, although it is not happening as quickly as we would like. i listened to congressman brady and i agree with some of what he said on export and trade, but we have seen some improvements with consumer confidence, where it has hit its highest level since the financial crisis began, and almost four in 10 americans say that the economy is on the right track. with growing consumer

confidence, it is no surprise to learn that retail sales surged up 6% in november, the most promising start of the holiday season in three years. we care about this in minnesota. it is a serious matter, with of the home of both target and best buy. they both boast promising lines of customers out there. there are more things we need to do going forward. the work that needs to be done with exports for small and medium-sized businesses. we have to start with a small business bill, but also looking at some of the barriers, the red tape barriers of some of our most productive industries that have the highest potential

for exports. as medical devices, largely based in minnesota, where we have seen at 12% decline in fda approval, and a decline in investment, investment going to europe where the safety approval process goes more quickly. tourism -- we have done a lot with passing travel promotion acts, and can promote our country overseas, and yet when you find out the startling statistics that people in china want to get a tourist visa to visit our country and it takes 50 days average. if they want to go to great britain, it takes 10 days. every day they are in america, they spend an average of $4,000. we have lost in the tourism business since 9/11. i think those are things we should be doing and looking at as we consider how washington can truly help to create private jobs.

the other piece of this that was mentioned by the congressman is unemployment. there are a lot of people out there who have lost their jobs through no fault of their own. bad decisions made on wall street have resulted in them not being able to find jobs on main street. i believe is very important that we continue making unemployment available to these americans. last thing i would say is, in response to some of congressman brady's comments about the tax bills before us, i am very focused on at the deficit right now. today the deficit commission is coming out with their recommendation. i don't think many members of congress would say they agree with everything in that report. i know i don't. but at the same time, i am heartened to see that people with diverse political backgrounds, like dick durbin, and people on the other side, like senator coburn and senator crapo, say that we need to advance these ideas and move forward. along the lines of what we're talking about, the bush tax cuts -- of course the middle

class needs to have these cuts continued given the difficulties we are facing. but when we go to the upper end, to the million-dollar level, millionaires, people making a million dollars a year, they've been getting an average of $1,000 back from the tax cuts. if we look at some of the recommendations from the deficit commission, we would be binding ourselves if we did not at least the choice of someone making over 200 to $2,000 -- over to $50,000 -- $250,000 a year or $1 million a year. it is a type of change, and as we look at getting our country out of the economic rot, reducing the deficit will be key to give confidence to the markets, and will be better for those -- for the children in harding did that. -- for the children in her team

that get -- inheriting the debt. millionaires would still get the bush tax cuts, then it would certainly reverse the clinton white read that you very much. -- reverse the clinton way. thank you very much. >> i want to introduce mr. hall. he served as chief economist for the white house council of economic advisers for two years under president george w. bush. prior to that, he was chief economist for the u.s. department of commerce. he also spent 10 years at the u.s. international trade commission. thank you very much for public service. we recognize you for as much time as you desire. >> madame chair, members of the

committee, thank you for the opportunity to discuss the employment and unemployment data released this morning could not implement erroll -- released this morning. the jobless rate had been 9.6% in each of the prior months. payroll employment increased by an average of 86,000 vermont since november 2009. in november, temporary help services and health care and jobs -- temporary health services and health-care added jobs. temporary halt service employment increased this month. in november, health care rose by 19,000, including 8000 in hospitals. thus far come in 2010, the health-care industry has added an average of 21,000 jobs a

month, above the line of average monthly growth in 2009. there were declines in department stores and furniture and home furnishing stores. other major service providing industries showed little employment change in november. manufacturing employment changed little over the month. following job growth earlier in 2010, factory employment has been relatively flat since may. mining employment continued to trend up. measures from the survey of households, the unemployment rate edged up to 9.8% in november. 15.1 million persons unemployed in november, 41.9% had been jobless for 21 -- for 27 weeks

or more could the proportion has been essentially unchanged since august. there are 9 million individuals working part-time for full-time work, the same as in october. the labor force participation it was unchanged on this -- among those outside -- the labor force participation rate was unchanged since november. individuals are not looking for work because they believed no jobs were available to them. in summary, the rate edged up to 9.8% in november and payroll employment was essentially unchanged. my colleagues and i would be glad to answer your questions. >> thank you, commissioner paul. this my last hearing as chair of the joint economic committee. i would like you to give us the best news that you have, the best news that you have on the economy. >> there were industries that did grow this month in terms of employment. temporary help services rose,

there also added jobs -- healthcare also added jobs, hospitality employment edged up. and a little cited number, the infusion index, giving an idea of how many industries are going and how many are losing employment, was 52%, meaning that more industries are adding jobs than reducing jobs at the moment. i would say that those are the highlights. >> thank you. that is good to hear. how does this recovery compared to the recover from past recessions that were not as deep as this one? >> the last two recessions both had slow recovery is relative to other recessions. so far, this has fallen in with

those last two recessions. we are probably the old head of the recovery in -- a little ahead of the recovery in the 2007 recession. and recessions prior to that are a bit deeper. >> is there any evidence that the holiday season hiring will be merrier than last year? >> the early employment bill in october -- buildup was a fair amount had from last year, but in november, the employment build was a little less. in terms of employment build up over the holidays, about the same as last year. >> does it look like over- qualified workers will still fall positions that i have gone to less skilled or younger had

skilled workers -- that might have gone to less skilled or younger-skilled workers? >> we count the numbers, and it is not obvious in the weeks left what the answer the question is. >> could you give us a rundown on demographic groups on recovery? how to african-american man fair, african-american women, hispanic men and women? how are they fairing in the employment situation? >> for african-americans, the unemployment rate went up a little bit, at 15% for november, which is quite a bit higher than the 9.8% overall. for hispanics, it remained 13.2%, also quite a bit above the average unemployment rate.

both rates are well above the on the planned rate prior to this are the recession -- about the unemployment rate prior to the start of the recession. >> and the higher rates of unemployment among women who are the sole supporters of their family -- are these women still experiencing extremely high rates of unemployment? >> the answer is yes. the unemployment rate for women who maintain families is 13%, well above the unemployment rate overall. >> and other women that are not canceled families --, who are not heads of families, unemployment among women generally? >> 8.4% to 13 is quite a bit higher. -- 8.4%. 13 is what it higher. >> dr. hall, last month, a 15.1 -- 15.1 million are now

unemployed, cannot find work. grex this recovery is very subpar, two or three times lower than the reagan recovery of 1981 and 1982. i am going to ask you how slow job growth is going, how many years it would take to get back to the bush year average unemployment of 5.5%, very low. i want you to think about that answer. psychology really plays a key

role in economic recovery. yesterday's vote was a good example of how to discourage job creation. think about who you are looking to tax. if you want to raise wrap it -- taxes on consumers who control one out of every $3 in retail stores. those would most likely be able to boost consumption would spend a greater pursuit -- send a greater proportion of their dollars to washington rather than circulate them around in the local economy. small-business is which or the driver of job creation in america, by far, half of small business income would be taxed under that new law. not all small businesses -- if you look at the account tax id #, it is only about 3%. those three% actually create the most revenue and create the most jobs. half of that income will be taxed at a higher rate under those new taxes.

it is hard to believe that either hammering consumers who can help pull us out when small businesses can create drugs is a good economic move. in the last two years, if you look at the eight bills that have gone to the white house and signed by the president that raised taxes, $625 billion, almost as much as this tax increase yesterday, can anyone wager how much that money -- how much of that money went to reduce the deficit? the answer is zero. not $1 went to decrease the deficit. it is like being way over your credit card limit. you go ask for help to pay down and then you take the money and not only do not pay it down, it's been that, and at twice to

the deficit. i think most of the consumers understand that myth that the government only -- that money only goes to expand the government. i am always appreciative of how difficult the economy is, appreciative of the low employment rate we had prior to president obama. i would like to know how many years will it take us to get back to that 5.4%? >> i think the way i would characterize what is going on right now, we have had steady job growth all of this year. that is good. we have had 961,000 jobs added this year, but that comes to about 86,000 per month. because the population constantly grows, you need a certain growth and payroll jobs to accommodate the growth in the labor force. >> around 100,000, roughly? >> i would say it is somewhere

around 130,000 to break even. so far this year, the 86,000 per month is not enough to start lowering the unemployment rate. obviously this month is reflecting that job growth is not strong enough. it makes it really impossible to calculate how long it is going to take because we need stronger job growth to start lowering unemployment. >> there have been some projections out there that you are aware of? >> i tend not to look at them since we deal in the actual data and we stay away from trying to forecast this. >> last christmas time when economic growth look like it was starting to pick up fairly strongly, it was being estimated it would take four to five years. now that economic growth has slowed by almost half, and now we are looking at clearly being

extended each month. i hope we can come up with a policy and get us not just 130,000 each month but a more robust 200,000 and a bug in order to get these people million people back to work. -- 200,000 and up. >> i am curious if you see any geographic trends when you look at the united states. when we were in the midst of this recession, we saw that it was just a patchwork of which states were doing better and worse. it was not really a regional bias. i am wondering if you see any regional differences in terms of improvement. >> i am not sure there is a clear pattern. i can give me some ideas of where the different regions set at the moment. the northeast region of the united states, employment is down about 3.8% from before the

recession. >> employment is down for the west. >> other than that, the state patterns are to characterize. >> which states have the highest unemployment? i know these numbers lag behind were your number is for today. >> they lag behind a month. right now, the highest unemployment rates, puerto rico, nev., michigan, and california, florida, rhode island, those are all states with high unemployment. >> north dakota, south dakota, new hampshire, vermont.

>> how about small-business hiring? automatic data processing reported that 54,000 jobs were created by businesses with fewer than 50 employees. do you have data that supports that and the small-business hiring serve as any kind of indicator for future economic growth? >> our data on size of business lags behind quite a bit. our most recent data only had through something like may, so it still lags behind a bit. the job loss in this particular recession was really spread out. it was a much higher percentage of job loss in small establishments than the last recession. i think the recovery so far, at least the early part of this

year, recovery was then a larger establishments and not so strongly in the smaller ones. >> that would make sense because unemployment in minnesota is at 7.1%. we are number one in the country per-capita for fortune 500 companies now, so that would explain part of what we have a lower unemployment rate, i think. you mentioned part-time job openings. we found in our state that job openings went up 32% in september, but 42% of the openings are for part-time jobs. you have seen an increase in part-time jobs. how many would you say would like to work full time that are working part time? >> there are almost 9 million people that a part-time for economic reasons. that is not changed a lot over the last few months.

has changed a little bit, but not a significant amount. that has been sort of holding. >> and the veterans numbers? i ask that every month, were those are, and always find it disconcerting and discouraging that our veterans have a high and employment. they are put at a disadvantage. what are those numbers like? >> gulf war era veterans have still high unemployment rate. >> has it gotten better lately? >> it is hard to look at this data month to month because the sample size is not large, but it is not -- it is up from 9.6% a year ago. it is still up over the last 12 months. >> i have some proposals to help

them use the skills they have learned, especially with paramedics. i know you are concerned about the number of long-term unemployed americans. i recently got a letter from someone in minneapolis who said i lost my benefits in august and still have not been able to find a job. i don't care about minnesotas unemployment rate being lower, an employee is unemployed. the see any promising signs for the millions of unemployed americans like jean from minneapolis? >> i have to say unfortunately, the number of long-term unemployed has not made a movement. 4.1 percentage points are long- term unemployed. it has been over 4% for over a year now. that is an extremely high level. >> so you see my interests in some of these longer-term competitive issues with the exports and really looking at what are ways that we can get

rid of some of the obstacles for creating these private sector jobs. given that 95% of our potential customers are outside our country, are really believe that the way we get out this is by making things again and exporting to the oak world in any big way. right now we are just kind of hanging in there, it seems to me, and they are obviously doing much better than we were, as a congressman pointed out, a few years ago, but still not getting to that point where we want to be. >> what was november's long- term -- i did not see you. eli cummings is recognized. >> you have done an outstanding job of addressing the many sensitive and difficult issues

and the reports and research that the staff has done has been extremely helpful to the entire congress, and i want to thank you. commissioner, how are you doing? >> good. >> what is the impact of these trends on wages? >> the productivity trends' impact has been high. what happens in the early stages of a recovery is that the trends are high. businesses bring back people. that has been happening with the last productivity numbers. they were below 2%. that has not been reflected in rate -- wage growth. the average hourly earnings only grow under to% over the past 12 months, which is -- 2%

over the past 12 months, which is low growth. >> companies are discovering they can do more with less. do you think that is part of the problem? >> i think that is part of what is going on. it is something we can see when we go shopping. you can see that the use of technology has changed. that will be one of the interesting things that we will see when this recovery strengthens, in areas like retail trade when we have productivity improvements. >> i am always concerned about those over 50. what are the employment trends among workers over that age?

do these older workers constitute more of the long- term unemployed? that is the zone that is a difficult one. employers are not agents to hire older people. -- are notanxious -- are not anxious to hire older people. >> the makeup of the long-term unemployed is a concern by age. the older workers, by example, 65 and above -- the meat duration of unemployment is about 30 weeks -- mean duration of unemployment is about 30 weeks. that is part of the reason why the unemployment rate is so

high. unfortunately, the longer someone is unemployed, it takes them longer to find work. >> that leads to something else. we have this discussion going on with regard to increasing the age when people become eligible for social security. as you do your numbers, i am assuming you are looking at people are retired. you almost have to. are you finding that people are retiring later or earlier? or with your numbers yield any kind of information like that? are you following me? in my district, a lot of people, by the time they get to be 60, because of the difficulty of their doubts, they almost have to retire. in other words, people may have

a job where they are sitting down. at the age of 70 or 72, that might be a good 8. are you finding people are retiring earlier? what are you finding is going on there? you have any information there? >> what we are seeing throughout the be session is that the older folks are staying in the labor force longer as opposed to dropping out. >> ok. >> i am sure there are a number of reasons for that. a lot of people have lost a lot of asset value in their homes and their stocks. financially, it might have been more difficult to retire than they might have planned 10 years ago.

that is the only group whose labor force participation has been increasing over the last few years. >> in normal circumstances, while they might not be -- you are seeing a slight increase in the number of people who are in the pool to be employed now. is that right? >> exactly. there has been a growing share of people in the labor force who have been unemployed and kept looking for work. by our definition of labor force, it is people who are working and those who are unemployed. some of those people are unemployed. in other areas, after a certain period of job search, they would have left the labor force. they are what you might call discouraged workers. now it seems that people are

more likely to persevere. as the commissioner said, they become long-term unemployed. they continue to look for work in the other times. in other times, they might have been able to retire. as you know, a number of years ago, benefits were much more common. we are much more dependent on 401k benefits. >> thank you. my time has expired. >> there are concerns about the age. the deficit commission is coming out with their report today. there is misinformation out there. people would have to be 28 years or younger to have that

recommendation of any kind of increase in the age in which you could get social security. in addition to that, it is worth looking at that it increases the benefits of people when they reach a certain age and they are older. there is a lot of talk about that right now. it is important to get the facts straight. thank you. >> commissioner paul, what was november's -- commissioner hall, what was november's long-term unemployment rate? >> it was 4.1%. >> what was the highest long- term unemployment rate in the past when congress fails to renew unemployment benefits? >> would this be between 9085?

-- june of 1985? is that the time span? >> i am asking you. the chart shows 1985 at 7.1%. can you put these numbers into context for me? how many long-term unemployed workers are there now purses in the past when we failed to extend unemployment the -- versus in the past when we failed to extend unemployment benefits? >> we will look up the number for 1985. >> do you have it? >> yes, we do.

it was about 1.3 million as opposed to 1.6 million. -- 6.3 million. >> what share of the unemployed were long-term unemployed in the november versus in the past when unemployment benefits were stopped? >> it was about 4.2%. -- 42%. we have this. it will come soon. >> thank you. >> it was about 15%. >> thank you. mr. brady? >> everyone in the room under 28 sat up straight.

it has been helpful for the deficit commission. but the social security age will have to be adjusted at some point. construction and manufacturing are part of our economy. the most jobs were in manufacturing and construction. manufacturing has been flat since the spring in may. construction employment has also changed little. mining employment up little. construction manufacturing is not what happened to all of those shovel-ready jobs. >> i can only tell you what the trends were. you correctly summarized the payroll trends.

>> there were weaknesses in capacity. the drilling moratorium was put in place hastily. we have shallow water exploration and drilling moratoriums that continue because permits have not been granted to get those workers back to work. drilling permits are not being granted. they are continuing to lose energy jobs. i think it was around 2000 jobs. >> i should have something a

little more detailed. in mining, we gained about 4000 jobs overall. mining of all sorts, oil and gas extraction, eccentric. -- extraction, etc. support activities for mining might include some things. >> it stayed flat as well. thank you. i know we continue to push the administration to get these people back to work. it is the holiday season.

i want to reiterate my thank you for the work that you and your group does. thank you to be leadership. thank you to chairwoman maloney. i know the next session will continue to do good work as well. >> mr. cumming. >> thank you. i want to ask you the president a question. if the president came to you and asked how would you describe the situation and what you think we should be doing? are we on a direct course and how do you see this situation? summarize your support. what would you say to the president? you know i always ask you that. >> in terms of looking

backwards, we have had relatively steady job growth this year. we have had about 960,000 jobs this year, which is good. the job losses have not shrink enough to lower the unemployment rate. it is not unprecedented to have this time where we are waiting to have strong job growth come on. we are going to have to put people back to work. >> if someone says they may not be able to get a job any time soon and what are their best prospects for getting a job and what kind of retraining do they need to do, what would you say? what region of the country do they need to be in? >> in terms of the long-term job prospects, a lot of the

service sectors like health care are likely to grow over time in the next 10 years. there is a changing demographic. there are probably a number of other industries that i do not have on the top of my head right now. we did some long-term employment projections. if you like, we can take a look at that and summarize that. >> i would like to have that. i want to thank you for all of your hard work. you have helped us tremendously and i thank you so much. sometimes your team is unappreciated and applauded. you bring messages that people do not necessarily want to hear. we do appreciate you. we appreciate the staff that is

behind you at the office and is looking at us right now. we wish you a happy holiday. again, madam chairwoman, thank you for your leadership. this is the last hearing of this joint economic committee. >> when that had a chance to examine a variety of critical issues. in the wake of the great depression, this committee was established by the employment act of 1946. it seems appropriate that the first hearing and the last hearing of this congress has been on the employment situation. dr. hall, we want to thank you and your team and your staff or all of your hall worked for appearing before us and for your professionalism and your public service. i would also like to thank the other member of the j.e.c. i have thoroughly enjoyed our spirited exchange of ideas.

i would like to thank senator schumer and the senior house republican member, mr. brady. this is the last hearing. i will be issuing at least one more report before the end of the year. as the first chair of the joint economic committee, i have asked the majority staff to prepare a comprehensive overview of women and the economy. i have asked the staff to focus on a how unleasing wittman's economic activity will fuel our economy -- women's economic activity will fuel our economy. thank you. this meeting is adjourned. [captions copyright national cable satellite corp.

[captions copyright national cable satellite corp. 2010] [captioning performed by national captioning institute]

vice-president biden met at the white house wet tim geithner on the status of negotiations with congressional leaders, and extending the bush era tax cuts. before the meeting, he commented on the jobs report that said on employment increased in november from 9.6% to 9.8%, another reason says the vice president why congress should extend jobless benefits. this is about five minutes. >> good morning. i am here with the director to discuss the ongoing debate of the tax cuts and about our efforts to ensure that taxes do not go up for middle-class americans. before we get on with that discussion, i want to comment on the job report. today's report means we have now

seen private sector growth 11 months in a row, and that means since last december we have added $1.2 million -- 1.2 million private-sector jobs to the economy. november, the private sector added 50,000 still, there is no denying the report is disappointed because we were quite frankly hoping for even stronger job growth. the bottom line it is, and what this makes absolutely clear is that while we have made progress creating jobs, it is clear is not enough. there is too much pain out there. there are still millions of people out of work, trying to make do without a paycheck and without the dignity and respect that goes with the job. that leads to undeniable conclusion. the first is that we need to extend unemployment insurance

benefits. earlier this week, a benefits expired, leaving millions of americans without up the life line they need to make ends meet at a particularly difficult time as they move into the christmas season. extending that support to those hardest hit by this crisis is not only the right thing to do, which we always have done, it is economically necessary for us to do it. those unemployment checks get spent, especially in the holiday season. when they get spent, that spurs economic growth. that helps create jobs. according to reports released yesterday by the council of economic advisers, the report said that extending -- not extending these benefits, and that have expired, if we do not extend them, we will lose an additional 600,000 jobs. we will lose 600,000 jobs by not

extending unemployment benefits. unemployment insurance is a powerful driver of economic growth. it is a simple and plain is that, and we cannot let it be cut off for these famies. not only at a time when they needed, but when the nation needs this money being spent in the economy, generating new jobs. it must get done before we leave town. weust have an unemployment insurance extended. the second thing to report makes crystal clear to me and to all of us is that it reminds us that we have to make these middle- class -- middle-class tax cut permanent. to me is unthinkable with the continued uncertainty in the job market that we would risk letting these middle-class tax credits falter.

it would have a significant economic impact. our recovery is underway but it is fragile. is to slow, especially forhe american middle-class. congress needs to act now before they leave town to make sure taxes do not go of for middle- class americans. they cannot afford it, but the economy cannot afford it, either. i urge the senate to join the house in voting on the bill passed by the house to permanently extend tax cut is for the middle class. i urge them to do so. there is nothing we can do for our economy with more immediate -- that is more immediate and more important than remaining -- ensuring that these tax cuts remain in place. bipartisan talks are going on, and we want to make sure that

all tax relief helps. has the significant benefit of helping the economy continued to grow. all the ones we passed last year, incding the obama initiative to make more pay, which has benefited 110 million families, that all these tax cuts are extended in these difficult times. the consequence of lettinghis less -- letting this labs -- 2 million workers as of yesterday's, or two days ago, are going to lose unemployment insurance. if we do not act, almost 7 million additional workers will lose coverage next year. never before in our history we have had unemployment athis rate have we not extended unemployment.

the tax cuts or the right thing to do for strapped families to find themselves working harder than ever just to makeheir paychecks cover their bills. we are going to discuss how we move from here. we are waiting for the senate vote. we hope that we succeed in extending the middle-class tax cut, but we are discussing how we as an administration can ensure that the middle-class tax cuts are maintained and unemployment benefits are continued. so thank you all very much. [unintelligible] >> next, the final meeting of fiscal responsibility. after that, parliament question

time. then, remarks from russian president dmitry medvedev. tomorrow on washington journal, a talk about what the federal government is doing to address the u.s. deficit and the future of recommendations of the bipartisan deficit commission. the u.s. institute of peace discusses president obama's unannounced trip to afghanistan and relationship between the two countries. and the editor of open secrets has details of a new report about the publicly disclosed personal finances, assets, and investments of members of congress and the senate. ""washington journal," live at 7:00 a.m. eastern on c-span. >> if i had to put my money on a likely outcome, it would be that peace in iraq -- it might be

harsh -- is likely ultimately to be imposed once again by autocracy. we just have to hope if that happens, the new ruler, the new dictator will be a lot more benign than was saddam hussein. demijohn burns, a longtime foreign correspondent for the new york times on the future of iraq, sunday night on c-span. >> 11 members of the presidential commission on the national debt have voiced support for a plan crafted by the co-chairman of that group. in their final meeting, the commission did not hold an official roll-call vote on the plan. in a statement, president obama said the commission has been invited to the white house for a meeting. this is about one hour, 40 minutes. [captions copyright national cable satellite corp. 2010]

[captioning performed by national captioning institute] >> come to order. >> i want to thank you all again. i cannot be more thankful for all those who fully participated, and that was something to watch for somebody who has been watching this scene for a long time. i want to thank my co-share.

he is a warrior ana wizard all at the senate -- co-chair. he is a warrior and a wizard all at the same time. i thought i knew things, but my skills in politics are in their infancy compared to this man right here. >> i lost my two campaigns. >> well, i flump remedial english, so do not worrying -- flunked remedial english, do not worry about that. all of us have cast tough votes, but i need to single out one person. i served ithe senate for 10 years, two of which were under the majority leader bob dole. i always enjoyed the majority role much more than the other,

but the role of a leader is to lead, and you did, dick durbin. you and i have worked on many causes before. how about americans for campaign reform? that was a dazzler. you can see how well we have done there. but again, a leader. to have five of the six senators appointed to this plan is very special. i will leave you with one thought, dick. the tallest tree catches the most wind. at the breezes are going to flow around your head. they are already around mine, that is why i have no hair left. to you, john, you are a gentle giant of a man. that is how i see you. you have more time to serve

this nation in ways that await you. it to bruce -- to bruce reed and his band of wunderkind, you are a remarkable talent. someone asked me if i could do and alliteration of what occurred. i said, well, here it is. we took a big banana and through it into the gorilla cage, and the guerrilla has depicted upper -- picked it up. they will appeal it, matchett, play with that, but they will eat -- they will peel it, mash it, play with it, but they will eat some. that is where we are now. some of this will be digested by this country.

it has been a pleasure and an honor. now i am going to get the hell out of town. i am going to live it up and sleep in the street. it has been an honor to be part of this with all of you and a privilege to have a new friendship with each and every one of you. thank you. >> how dyou compete with that. you do not. the great thing is, i have had a chance to have dinner with him 30, 40 nights, andy ishe best. --nd he is the best. hes like this all the time. i have a new wrinkle in my face from being with my pal.

i also have a news smile on my face because i am really, really pleas with the outcome of this commission. it has been a long, hard slog for all of us. i have never been involved in any political discussions myself that were less partisan. if there is such a thing as nonpartisan, and i think tre is, this has been it. i hope the american people have had a chance to see you all, members of congress, work together, because it has been a beautiful thing to see. you have cooperated in every way possible, and i think the country is better off for it. i also think that no one on this commission, and very few left in america, are in denial that this threat pressed upon us by

these ever-increasing deficits are something we have to deal with. i think people really believe that this is the moment of truth, that the threat of these datasets are real, the solutions are absolutely -- of these deficits are real, but the solutions are going to be difficul and there is no easy way out. but at the end of this journey, america will be a better place. a strong, bipartisan coalition has already vod for this plan. while each has reservations, lord knows i do and allen does, about the plan, all believe, i think, that by voting yes, this plan will make an important first step forward in approving

-- proving something, in proving that our nation understands the peril of our ever-increasing deficits and that our leaders, you will, are prepared to do something real, something important, to address them. i want to thank alan simpson, my co-chairman. i would not be here today without him. i want to thank the brain. if any of you have ever had an up day, you have never been as high as this guy is every day. on my most optimistic day, i am not as high as he is. we walked out of our first meeting and i said, those guys we just met with think we are crazy. are we crazy? he said, no, we are going to

get this done. that is the kind of partner he has ben. thank you to the wonder twins, to captain paygo, all of you have been great. if you had not helped us push this forward, america would not have had a chance to focus on the rils of this deficit. i also want to thank my two new friends. senators, i could not respect you more. my old friend, dick durbin, thank you, sir. i have been honored to serve with you. the godmother of fiscal irresponsibility taught me my first thing about the -- fiscal responsibility thought meet the first thing about the budget.

i really, really appreciate it. i think you have done a great service for your country. today, several members have said they would vote no, and these members of a great patriot and great people. they have been constructive participants in this effort. people like congressman kemp and congressman ryan have said why they are voting no. but 85% of what we are recommending will end up being in their budgets. i think that is a good thing. two congress people have come out with a very forward-looking plants that recognize that this

deficit -- a very forward- looking plans that recognize that this deficit has to be dealt with. today, we are going to hear from people who have not expressed their opinions yet and some of you the would like to make statements. i will recognize you now. we will start with senator dorgan, and then we will go to congressman spratt -- senator durbin, and then we will go to congressman spratt. >> tha you. we would not be here without the two senators who had this notion on a plane trip. the idea of a bipartisan defit commission. even a good idea could not have been launched without define leadership of you to do. thank you for knowing best institution from the inside -- and this institution from the inside and for your amazing energy to reach this point.

i have received a few phone calls in the last 24 hours. [laughter] some of my closest friends and allies in politics cannot understand this. they have said, why is a progressive like dick durbin of voting for the best deficit commission report. here is why. i believe that politicians on the left and right, democrats and republicans, have to face the deficit crisis we have. when we barrault $0.40 of every dollar we spend, whether -- when we borrow $0.40 of every dollar we spent, whether it is on the pentagon or food stamps, that is not sustainable. when we are taking so much money from china, that does not

allow us to sustain america. i want progressive voices at the table to argue that we must protect the most of all trouble in the society and demand fairness -- mostf all realm -- most vulnerable in society and demand faiess in budget cuts. i believe it is a vote on a motion to proceed to begin the debate. this is a report that is meant to kick start an adult debate on an issue that congress absolutely must face. that is why i am a voting yes. we face hard choices. american families face hard choices. but you do not start making hard choices in your family by denying insulin it to your grandmother or chemotherapy to your daughter.

starting now, i will begin working with my colleagues in the senate to address the debate in a balanced, a progressive way. a number of our colleagues, as many as 12 democratic senators have expressed their support for our effort. they may disagree with particular, but at least a dozen have stepped up, and more will follow, i believe. there are areas where i have stng disagreement, and i want to make it a matter of record. i think the cuts in this proposal are too deep and too fast. we should balance spending cuts and revenue increases evenly. we must look for savings

everywhere we can, but that is not the same thing as balancing the books, and it may affect those that need government assistance the most. i fear this proposal takes too much away from those who are the neediest. i will not repeat the argument i made the other day. no one has come out to review it. this plan does n save $60 billion by eliminating earmarked. capping spending is what balances the budget, not eliminating earmarked. i think we can save the most important social program in america in a balanced way by speeng up the date on which we collect payroll taxes on 90% of wages, a goal alan greenspan set in 1983. i would use that additional revenue to alleviate benefit

cuts that the proposed changes would create. on health care, there are many ideas here, and i think the fact that we still basically stand by the affordable health care act, the health care reform act, is fundamental to my support of this commissn report. but there is one proposal in here that troubles me greatly. i think it is just unfair to treat federal employees as guinea pigs in a voucher scheme for health insurance. if we are going too at, in all fairness, we should also have a not-for-profit public option available to these same employees. let's see what a voucher does, but let's also create a not- for-profit public option for the federal employees as well. that would have been a noble experiment. this experiment the wendorse and this commission is too one- sided.

i also think we should give medicare beneficiaries an option of a part of the drug program run by medicare. i think we should use far more tax revenue for debt reduction than this proposal calls boris -- calls for. surely, we can put more than $80 billion of earmarked spending toward the debt. while we are dealing with the reality of the deficit, there is an and rational, not real conversation going on and not far from here that suggests we can give tax cuts to the wealthiest people in this country and it does not count. of course it counts. it is $700 billion added to the deficit that gives tax cuts t the wealthiest people. if we are serious, we should acknowledge that reality. a word on malpractice, i wish we would have left that out. many things in here have not

been tested. the one that has been tested suggests that we are going to raise the cost of medical treatment by including this in our plan. what would we want to do that? i wish we had not included that. that is y i will continue forward from this day to use this as the starting point and click -- starting point template for what i hope it will be of valuable bipartisan conversation. this is not the last word. erskine bowles and alan simpson have given this country a valuable gift by raising the profile of ts very real debt challenge that we face as a nation. i believe this commission has donereat work with limited research and lited staff. i believe it will end up in a historic document because we will have three democrats and three republican endorsing

going forward with this report. 14 is just a number, but i think you have done more than reach a number. you have inspired us to do what we need to do for future generations. i got an e-mail from my son this morning. for a father in this business, and there is nothing better. he said thank you for the grandchildren and for your family. >> well. that makes you feel good. chairman spratt. >> first of all, i associate myself with the comments made by my colleague, with him i began my congressional career 28 years ago dealing with this same problem. i support the bulls-simpson

plan, subject to a number -- bowles-simpson plan, subject to a number of caveat. as i read through it, i thoht frequently, thank god i am not running again. [laughter] the fiscal course of this country simply cannot be sustained. you know it. i know it. the american people know it. there is too much at stake to make inaction an option. the plan proposed calls for many things. in that sense, is different from the other agreements we have work done years ago.

we succeeded once by balancing the budget for the first time in 30 years, and i believe we can do that again today. the plan before us does call for some hard choices, choices made harder by tilting too much towards saving cuts and not revenue increases. i have my doubts about the achieve ability of some parts. substantial cuts in medicare on the heels of cuts made through health care reform are disconcerting. one cannot help but noti the irony of extending tax cuts one day and the ne day proposing a 65 page report to eliminate $3 trillion-$4 trillion of

deficit and debt. this shows that this is just an exercise in complex choices. there is no easier way out. it does not undertake to deal with this because it is budget process. if this is somehow adopted, how is it implemented? the buet process remains intact. we can only make recommendations here. the commission's recommendations illustrate the

spending policies that congress could pass to reach the deficit reduction. the commission's purpose is to show proposing these recommendations, the feasibility of its overall proposal. many of the recommendations are not endorsed by many -- many of the members of this commission. many are, but some are not spread -- they are not. all of these are necessary components, believe me. it does not change the basic budget process. necessary changes in policy will begin with the budget committee. it will include reconciliation.

going back to caveat, barely time to can them up and time to clean them out. -- there will be time to clean them up in time to clean them out. we bin a national debate to show that we are in earnest. i have been on to serve on it, our coaches deserve credit for giving an energy and focus and for bringing it to a conclusion on the designated date. the staff deserves credit for a prodigious amount of work. thank you, mr. chairman. >> thank you, mr. chairman. he has been my lifelong friend for 28 years. >> [inaudible] [laughter] >> he ha served this nation

well. thank you. senator conrad? >> i would like to say that the senator is not here because of a longstanding family obligations there is no place that he would rather be than with us here today. i want to thank him for partnering with a. we started this three years ago. because we recognize that it would take some sort of special process to bring to the attention of the nation the seriousness of the death threats looming over the country. -- debt threat looming over the country. both of us are so proud of the two of you. neither of you had to enter this call. -- answer this call greg allen, you are out there in wyoming

with your fantastic wife. many of us have long thought that a and it is the really special one in that relationship. allen is not so bad either. you have just done a superb and courageous job. erskine, you d not have to take on this obligation. you have heavy responsibilities back at home. you recognized that this is one of the key challges facing the country. other than a terrorist threat to america, i belve this debt rights constitutes the greatest challenge to our country. the senator is a very good man. somebody that fully understands that the challenges we confront.

he has been willing to put aside partisanship to try to get a result for the country. the chairman, that you could not have a better chairman of the budget committee. he is simply the best. we all want to thank you for your service to the country. i would ask others to join in recognizing his service. [applause] over and over, and john has demonstrated courage. i have seen itany many times. senator dorgan, you showed courage big time. i will never forgets your stepping up. to senator coburn, i watched her

press conference yesterday. it gave me chills. you two had the courage to step forward and say, look, this is not exactly what we do, but we are prepared to sign up to make a beginning. thank you for that. a 14-18. going to get when we put together this plan and finally agreed on the tested 14-18, i never thought there was much probability. what chance do put on it? i said, 5-10%. we're going to get 11. 11 of 18 is 60%. that is a little over 60%. in the united states senate, when you are facing a filibuster, 60% prevails.

i believe we have crossed at important hurdle here. we have laid out a plan that will be resurrected because its must be. put me in the camp, there are things here that i do not like at all. i do not like the federal employee health benefit plan, a defined contribution approach, i do not like it. there are other things that i do not like. but that is not the point. the point is what we have agreed to hear is far more important than what we have not agreed to create we have agreed to $4 trillion of debt reduction over the next decade. $4 trillion that does stabilize the debt and it does bring the debt down to levels that every economist said is absolutely essential to achieve. a debts of less than 40% of gdp.

on social security, i think we have got it about right. it does secure the solvency of social security for the nt 75 years and does not use any of the proceeds to reduce the deficit. this is purely to strengthen it and to make secure social security for long term. we have done it in a balanced and fair way. help those who get to age 82 by giving them a bump and the benefits. secure because of the excellent work of senator durbin great hardship waivers for those, and because of hard physical labor, simply must retire early. thank you for that progress of an important contribution to spread i watched the news media report saying that we have done away with the mortgage deduction.

we have not. we have reformed it. those reports were inaccurate bread i also saw reports that we were increasing the taxes by $1,700 on every american. nope. that is absolutely inaccurate. wh we have done is fundamentally reform the tax system and taken some of the deductions and exclusions and credits and tax expenditures so that we cld lower rates. 90% of the additional revenue is used to lower rates to make america more competitive. including gloria the corporate rate, the sickest -- the second hight in the world. we are doing something here to make america more competitive so that wcan create more jobs. hallelujah for that. that is a leadership position that will be recognized in any

plan that comes forward in the future. i cou go on, but i want to end there. i want to say howroud i am of the work of this group. we have changed the conversation in the country. it will never be the same. thank you for your plan. i liked it better in many ways than some of the other plants. i think you have made a real contribution. you have the courage to come forward with a plan that also gives us back -- gets us back on track. it does it in a different way and i admire that you have the courage to come forward. i admire people to come forward with a plan. thiss not the end of the story. this is not the end of the story. this book is going to be read again.

these chapters are going to be real. we have provided, i believe, a strong message to our colleagues an to the country of what has to be done. thank you. >> we would not be here without you. that is a fact. >> i want to begin by saying to to a remarkable individuals, thank you for giving us the chance to have this conversation. to alan simpson, who was the perfect choice to be a cochair because he would say all the wrong with saying said before he would sell the right things. -- say all the right things. [laughter] to erskine bwoles, -- bowles,

the president chose to individuals who had the courage of their conviction to try to move forward. enormo applause for what you have done in helping us stay together. i stated my office till the wee hours this morning. unfortunately, i kept my staff with me as well. i always try to figure out of there was a way i could get to a yes. for all the reasons that i think my friend and colleague dick durbin said he is a yes, i think is appropriate for all of us to want to be a yes. i am going to be a no, but i want to make it clear that everything that he sd earlier, it is important to have the courage to say we have to do somethg, to say that he won a seat at the table. those are the reasons i will say no. the seat at the table is

important. it will not just be this table. it will the table and the senate and the house and the white house and every kitchen table in thisountry where we will have to discuss this. beckham we will -- we wer given the privilege to be at this table. i do not give up the seat easily. i cherish the seat. i intend to continue to find a seat. they have given us an opportunity to move forward. what this boils down to for me is the following -- we have got some harchoices. you are showing us that it can be done. you gave us many alternati ways to do it. you put together an outline of the many options that were out there. what you have done is you have stimulated the conversation occurred. you open the door for us to not

act. do something, not just talk. it is not the end of the story. i do not think the last chapter has been written. this certainly maybe one of the influential chapters, but this book has not been written. i hope that one of the chapters in this book, the fiscal soundness for this country, did retargets that which got us into this mess? did we look at what was letting us develop these record surpluses and did we examine what took us from these record surpluses to these record deficits? if we examine that chapr well, the following chapter will probably say, we know how to take care of part of the problem because we know some of the causes. when you go to war, and to borrow money from china, your

economy is gng to hurt. when you pass a prescription drug plan for our seniors and america -- i am not casting judgment one way or the other. we did not pay for it. when you pass it, that they don't find it. we are looking at another $300 billion in unpaid costs that we probably had to borrow from china. we can talk about the size of the tax cuts. they probably add up to close to a third of the deficit that we face lg-term as a result of the different decisions that have been made.

as one popular politician back, is to say, then was then and now is now. what do we do now? one of the chapters that will be written will say that we recognize that we cannot undo the policies of the past, but we can pay for them. therefore, there is about $1.30 trillion on the table that is on page 4. i do not think it pays for by those who did the party and during that decade. -- partying during the decade trade that is the biggest objection i have. somehow, a senior receiving benefits may be to attend a local senior center in my district, is going to see cuts to programs because we have to make those tough choices. because we spend $1.30 trillion in wars in iraq and probably a prescription drug benefit, i hope that we recogniz that we

have to pay for those transgressions, this fiscal transgressions to move forward. second thing i think we have to do and i hope i see a chapter in the book that says we are going to do that in a way that recognizes that we need to invest in america. no longer can we spend in america. we have to invest it. to me, that means that if we're going to make the cuts that we have to make to similar programs, and we will target them well, i appreciate that the fire wall has been put in place. i less appreciate that the bulk of the cuts will come disproportionately on the backs of those who require education, environmental cleanup, housing, senior citizens services, health care. you have done something important. you put the discussion on the

table. you did something else was very important. you've raised the other important chapter in this book that has to be written. while we talk about spending being a problem, the reality is, it is not the spending on the direct side. it is the spending on the tax side that is the problem. i know there are some that will argue. if you let them keep it, then we need it. it cost us we do not have it. the second most difficult issue that i confronted is that so much of the reform and the savings comes from programs that are essential in places like my

working-class district, but not from those who got the benefits of these massive tax earmarks. i wish that we would do much more to take into account these huge t giveaways. if reapportion it properly, we could make the types of decisions that will allow us to move forward. this is a plan that is worthy of consideration. this is a plan that makes the tough choices. this is a plan that provides input. this is also a plan that gave different options spread i think there are many different options that can be chosen. i think the director put together a plan that has a number of options and i think are vy worthy of consideration.

when it came to your actions of this discretionary spending, more so than this plan before us. if nothing else, i think there are some great chapters to be written. we have some good doctors here at this table. we must prevail if we want to keep america strong. i look forward to working with everyone. i very much sand beach chairs and every member of this commission for making this a memorable journey that i got to go through as we get ready to tell the american people that we are up to it. >> you have been a big help to

all of us. i understand the struggle. you are a leader of tomorrow. >> thank you. i cannot support the and i agree with them that the work was constructed despite our inability to get 14 votes. i offered my own plan to reach budgetary goals by 2015 with one very different assumptions. i believe that we can do it without further eroding the middle class in america. it pays to remember that just 10 years ago, we had a budget surplus and the debt was rapidly deeasing. during the bush years, those

surpluses disappeared. a blind eye to the recklessness of wall street, which caused 8 million americans to lose their jobs and millions more to lose their savings, the value of their homes and the homes themselves. we are often an unsustainable fiscal path, to " the report, that threatens the future of economic viability of our country. i agree. but there was another crave threat to both our economy and our democracy. that was the alarming redistribution of wealth that is shrinking the middle class. the top 1% of americans now own 34% of our nation's wealth. more than the entire 90% of the rest of americans mbined. even during this discussion, at the top 5% of households have seen their incomes rise.

if we feel right now to extend unemplment insurance benefits to 2 million americans, not only will that be another slap to the middle class, that it will hurt our economy by depriving our businesses of what these struggling americans willo out and spend. now we have a commission report that talks about shared sacrifice and making painful decisions. painful for whom? these recommendations and asked those tools already been sacrificing, who are sacrificing now, to further sacrifice. those of not enjoying prosperity pay over the last many years are being passed to pick up too much of the tab. you do not need to do that. there is another way. my plan recognizes the need to create jobs.

a deficit reducing strategy that some in correctly viewed as just more spending. their plan does not include up first -- upfront investments. the bowles-simpson plan asks them to pay more out of their own pockets. they already pay 30% of their mostly meager encourage the median income for seniors is $18,000 a year. their planned cuts medicare by $110illi by imposing higher cost sharing requirements. my requires medicare to negotiate with pharmaceutical companies, like the veterans administration does.

the cbo estimates at a savings of about $10 billion per year. the plant -- the planned cuts the bloated military budget, which is a good thing. mine does as well. by cutting military health care benefits. these military families are not getting rich serving our country and shld not be the targets of deficit reduction. responding to republican calls for slashing spending, their plan calls for deep cuts in domestic discretionary spending. using the plant -- using the formula, there is a 22% cut in current funding levels in 2020. jeopardize in everything from nutrition and education to medical research and job training. their plan opens a new shoe is

loophole to incentivize companies to outsource jobs. by adopting a territorial tax system, a u.s.-based multinational corporations will never have to pay taxes on profits earned from subsidiaries in foreign countries. finally, their plan would require cuts in social security benefits. the good news is that it is acknowledges the social security does have nothing to do with the deficit. their plan to make social security solvent for the next 75 years is not a plan for debt reduction. the bad news is that the average benefits for middle income workers cou be caught up to 35% depending on when they retire. there is no need to cut socialist -- cut benefits for

social security. we do not need to cut social security in order to save it. i have highlighted just a few of thways that their plan further erodes the middle class. there are many things inheir plans that are -- i appreciate that there has been a consensus that the defense budget must be subjected to scrutiny and trimming in ways never seriously considered before. it is very significant to tax expenditures -- all those deductions are largely given to the wealthy and they're finally being recognized for what they are. some will criticize my approach as politically impossible. but i gladly submit my ids to the public. protecting social security and medicare benefs, investing in jobs, and asking the richest

americans to contribute more represent the majority view despite the inside the beltway conventional wisdom of what is possible. bottom line, the commission on fiscal responsibility and reform has proven that to fixing our nation's fiscal challenges is not mission impossible. i look fward to a constructive debate -- a constructive debate that has been started. i will continue to stand up for low-income and middle-class americans. thank you. >> thank you. thank you for playing a constructive part of this debate. >> i have to think jan for being the canary in the cold wind -- coal mine, too. when i began to grant, we had a talk. she said that she would clear her throat when i began to

grant, which was not perceptible to others. it was to me. [laughter] it was one of those silent dog whistles. dogs can hear something that no one else can hear. i heard her do that. [laughter] >> i give up. >> i was listeng to senator conrad speak. it was only 10 months ago that the president created this commission. the country was suffering from the aftershock of a rather devastating financial collapse that rocked the nation. only a handful of people were dealing with this very high priority issue.

the people on this commission should understand that we have changed the forever. we have changed of -- the issue from whether there should be even a fiscal plan for this country to what is the best fiscal plan for this country? that is an enormous paradigm shift that is important and that you have led to make happen. my plan does call for the same $4 trillion of debt -- deficit reduction. i have may have done it in a different way, but i agree that before we continue and before it becomes a chronic disease, before it has -- threatens our national security, before it is the most unique and wonderful and special american dream, we have to do something. the fact that we now have five plants demonstrates that this is

no longer a matter of policy. it is really about leadership. just to be fair, their plan got 60% of the votes. to whoever made the role of 14, we made it out. it deserves a house -- a vote in the house and senate trade if it fails, we should just keep on voting until we get the job done. it is a question of when we will get this done. this president needs to make sure that by the state of the union, he also has his own plan. this is the issue of part-time. -- the issue of our tim i voted notes despite my admiration for the effort to spread i feel strongly that we have to deficits in this country. if fiscal deficits and an

investment deficit. the investment deficit, we also need to create a competitive dynamic and growing economy. no family would willingly balance a budget by not sending their children to college. no business can successfully compete without equipment. no nation can simply cut its way into the future. it has t invest as well. i also thought the plan should better balance revenue and spending cuts. i thought we could do more to provide solvency tsocial security will still preserving benefits. i thought therwere too many short-term cuts in health care. i did not think we have in a shared responsibility on the part of our larger corporations to make their fair sha contribution to all of this. but i think something needs to be done.

to senator durbin, i respect what you have done. i admire your courage. if those fall calls keep coming, since some of them to me. our future, our country's future, our children's future is not a matter of change. it is a matter of choice. it is a moment of truth. thank you. >> thank you. i have enjoyed every minute i have spent with you. it has been a great learning experience for me. thank you for your participation. >> let me at my thanks for the work that you have done as chairman. i've made a lot of friends going to this process. the process, though, is

agonizing. making friends down here -- you did not make it easy. nonetheless, it did happen. probably the most surprising one for me it is a candy and i coming -- andy and i becoming friends. i remember seeing the list and i thought, who dreamt up this one? acc -- a ceo, we are not going to get a low. this will not work. i fully expected -- [laughter] that never happens. if he had the guts to reach out, i should have the guts to engage in conversation imparted we got

a long. we did not necessarily agree, but we got along. my hope is that in this process, democrats and republicans learn to get a log and come to a conclusion of all this. it has not been an easy vote for anyone. i have the advantage in that i do get to go home. the sec voted yes, i recognize the difficulty in doing it. i really admire you doing that. for those devoted no, i recognize that at any that you went through to arrive at that decision. i cannot help, though, in noticing a pattern of the votes. i am reminded of james madison. the hot tea of the house schools in the saucer of the senate. i am hopeful -- my hope is that

coolest prevails. as all of you work through this process, coolness prevails. the problem is not going away and this is just the beginning. while this is the end of the commission, and i am thankful for that, it really is just the beginning of the resolution and the moment of truth. it needs to beddressed. for the 12 politicians on the team, your efforts has really just begun. we all recognize that. if i can be of any help in that process, i am more than willing to do that. the process is agonizing. i have ner seen such hyperbole associated with such small items. slashed, destroyed, cut, a draconian is applied to

something like a 5% increase over 10 years becoming a 4% increase over 10 years. i cannot understand the trauma of all the words associated with something like that i have difficulty seeing how you get your job's done at all when there is that kind of hyperbole. i waited -- my fal comments would be, the essence of compromise is nobody is happy. there is something for each of us to point to and say, we are not happy. that is true and that includes me. i would ask you to not let it be the enemy of the good. i understand the argument. do not let the perfect the enemy of the good. i would go ck to a phrase that a number of us have used, this is a time to not to pull apart,

but pulled together. >> before i go to senator simpson, is there anything else anyone else that would like to say something? >> i will be very brief. i am honored to serve on this commission. i give my reasons. some of the things that i disagree with. the congressman referred to the plan that we put together. frankly, i do think it is a better plan. but even that was a compromise. he is a republican. i am a democrat. we had 17 other people to deal with.

because of cochairing is other group and because of my service on this commission, i've spent a lot of time in the last few weeks being interviewed by the press. there's been some excellent articles about this process, the general tone is, this can not work, can it? in the many hours i spent with a microphone on my lapel, about 20 percent was spent on the content of either plan and the 80% was explain why this is not going to happen. i would just plead with the press -- to give democracy a chance. it is possible that this process might work.

you might -- it might actually work here on capitol hill. lay off and give it a chance. [laughter] [applause] >> that is better >> thank you very much. i had not intended to make any remarks. i made my speech yesterday. i wanted to comment on one thing that was said by senator conrad. the fact that we did not hit 14. it should not be an indication that there is not powerful support behind this plant -- support behind this plan. the need for congress to engage brigid we did get over 60 -- the need for congress to enga.

we did get over 60. had we had 14, we would have been required to get 77% consensus. that is a broader level of consensus that is then it needed in this congress by far. my point is that although -- by failing to get to 14, we will not have the ability to force a vote on this specific plan on the floor of the senate and house. but it does not mean that we will not have the ability to move ahead aggressively in the consideration of this plant great many of those who voted against the plan have commended it. as you indicated, some of those two the ability to put together next year's budget are going to use major pieces of this plan as we move forward. i would simply say, to the

president, to the senate, to the house and to the people of our nation, we should not let's this proposal fall idly by the wayside. as a matter of fact, i have seen too many proposals, the proposals, simply be shelved. we have shown that we can get the majority necessary, the super majority necessary, to pass this kind of legislation. as we evaate our options a moving forrd, the option of inaction is at acceptable. -- is on acceptable. we cannot allow gridlock. the effort to find a perfect get in the way of getting this audit the track.

several of the witnesses who talked tohis commission earlier pointed out to that one of the most significant things that we could do for our economy would be to get on a plan. they did not say, what plan? to this plan? they said, get on a plan. our nation must recognize that it is imperative that we do that to immediately. if any message can come out of these deliberations, and i think it must be that we can get onto a plan. we have a cheap to -- we have achieved the kind of super majority support for one plan in this commiioner. when to expect the congress to gets to voting. this plan deserves a vote. other plans deserved boats. the issue deserves

consideration. i would hope that as we move forward, all members of this commission could unanimously agree on that. an advocate as we move forward for immediate and aggressive consideration of this plan and of this issue. >> thank you, sir. >> i will do the two-minute drill. that is a wonderful tribute to because he will get hammered. we will all get hammered. let me tell you, if democracy is in deep trouble. when the two most disgusting bodies in america are politicians and journalists,

democracy cannot work. to winhe two lowest forms of society are journalist, the media, and politicians. we both have to do a better job. imc in those interviews. the interviewers are always aeolic, vigorousuys. -- the interviewers are always ayala, compared -- young, vigorous guys appear it -- guys. you are the ones that will get clobbered, not me. i want to list all the things that i do not like. i will be reminded of every single one of them when i get home. it will be something unbelievable. as these groups and zealots to gather their minions to begin

their slash and rn of efforts, they craed up their blatant distortions. be ready. they will pull all the stops. remember this, many of them were the same-sex to chuckled -- many of them were the same applies 6 that chuckled. they are not laughing now. as for me, because of you all, i will walk: probably with my hat -- with my head held high. god bless you. >> thank you. let me conclude by thanking each of you for all that you have done a great for your courage, for your commitment to, and for your candor. you have been terrific through this hole and nine month

process. i respect every single one of you. there is no question how truly thrilled i am that a straw bipartisan majority of the you have voted yes to this report. you are rig. this report is merely the first step. it is not the end. it is not the beginning of end. it is now up to the members of congress and the members of the administration. they have to work together, to pull together and not pull party, and to work in a non- partisan matter like you all have done here. it has been amazing to watch the two sides come together. no yelling, no screaming, but

adult conversations about a very serious subjects. please, i really am pleading with you, please make the tough choices. reduce spending. reduce it in the defense budget. produced in the non-defense budget. produce it in the entitlements, tax cuts. reforming the tax cuts. broaden the base. simplify the coats. bring down rates. eliminates these dreadful deficits. i thinkhe american people are really counting on you. i thank you for all that you have done. i have been honored to serve with you. this commission stands adjourned. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 20]