Biden’s First Meeting Remarks with Republican Congressional Leaders

I wish Biden’s advisors had given him some dialogue rebutting McCarthy’s plan for cuts in programs. It is this type of jawboning which make convince some, not all, citizens the need to change their minds. What is the harm, Republicans will bring to the economy over and above what the FED will incur on Labor.

Joe Biden’s remarks on the first meeting with Republicans and their holding United States citizens hostage to protect the 1% of the taxpayers making > $500,000 annually.

“And I’ll remind you the national debt went up 40 percent over the 200-year, went up 40 percent under my predecessor.  And that’s the problem we’re dealing with today.”

Remarks by President Biden on Meeting with Congressional Leaders, The White House

As I said, I’ve already cut the deficit by $1.7 trillion in my first two years in office.  And the budget just submitted to Congress cuts another $3 trillion in debt over the next 10 years. That is the budget I submitted.

I made it clear that we can cut spending and cut the deficit.  For example, my budget cuts $200 billion in spending by strengthening Medicare’s power to negotiate for lower prescription drug prices.  In addition, this is on top of the $160 billion in budget savings we passed last year by being able to reduce the price of insulin and other drugs for those on Medicare.

And my budget cuts $30 billion — $30 billion in spending on tax subsidies for Big Oil companies.  They made $200 billion.  They don’t need a $30 billion subsidy to drill.  It makes no sense.  Why are we handing them a $30 billion tax subsidy?

And, you know, it’s time to stop doing that.  And that is what my budget does, among, among other things.

My budget also funds the Internal Revenue Code so that there’s enough agents to thoroughly look at the taxes of billionaires in America.  This Congressional Budget Office says it would raise $200 billion.  Larry Summers, a former secretary, says, says it would raise twice that amount.  It’ll raise a lot of money.  Why do they want to get rid of the people who, in fact, would be able to do those audits?

And my budget has some of the strongest anti-fraud proposals ever proposed.  It strengthens the number of inspector generals.  Remember, I know some of you covered me with my arguments in the past, with the last administration, for cutting inspector generals, as to how the money was being spent.  And the inspector generals are watchdogs for taxpayers’ dollars.  And it’s been estimated that we’d save $10 for every dollar spent on funding inspector generals.

My budget cuts wasteful spending, closes loopholes, and does one more thing: It makes the wealthiest Americans and the biggest corporations begin to start to pay some of their fair share — just some of their fair share.

Speaker McCarthy offered a very different way forward.  He’s proposed deep cuts that I believe are going to hurt American families.  And millions of Americans relying on Medicaid for their healthcare would be at risk of losing that.

And there would be 30 million fewer outpatient visits for veterans to the VA hospitals.  And we just increased the VA budget so they could accommodate seeing these folks.

And we have to cut — we’d have to cut three- — 30,000 law enforcement agents — FBI, DEA, Border Patrol.  A hundred thousand teachers and support personnel would lose their jobs.