Congressman Jim Moran on Debt Limit Fight
Representative spoke to Democrats in Alexandria on Saturday night
Photos
The country wants to know: Will Congress increase the debt limit by August 2, or will the United States default on its debt and lose its AAA bond rating?
Democratic Virginia Congressman Jim Moran (8th) has been talking with Minority Whip Steny Hoyer (D-Md.). “It’s not going well,” Moran said at a Democratic event on Saturday night in Alexandria. “Boehner is having a meeting right now in the Capitol and basically they’re deciding whether to allow an international implosion of our financial system, which could send us into the second Great Depression.
“They (Republicans) don’t know what they don’t know. They don’t know how important the stability of American currency is to the stability of the world’s financial systems. They don’t understand that the debt ceiling is not an artificial construct. It has nothing to do with revenue or spending. All it says is ‘We will pay whatever we owe.’ That’s all it does. And by delaying this, it raises questions as to whether we will pay what we owe and that’s not good. That causes distrust, confusion and it weakens the authority and the credibility of the United States government.
“Obama’s furious that Boehner won’t talk, because (Boehner) has no power. It’s [House Majority Leader] Eric Cantor (R-Va.-7th) who has the power. He really thought he was talking with someone who could say ‘Yes,’ but Boehner doesn’t have the authority, because Cantor controls the Tea Partiers - the hardcore far-right. To them, it’s about principle, and I’ve talked to them. For most of them, their economic policy is Ayn Rand, it’s not on (economist John Maynard) Keynes or any economist,” Moran said.
Moran cited cuts to the Women, Infants and Children program, which provides low-cost meals for underprivileged pregnant women and children under five years of age.
“It’s one of the most important programs that a caring community and society and nation can do,” he said. “So, the Republicans would cut $650 million from that program to deny nutritious meals to 300,000 women and children for the entire year, and in the same bill, the tax cuts just for the millionaires and billionaires, people whose incomes are $1 million a year, and there are 300,000 of them, they get $650 million of additional tax breaks for one week. So, to pay for an entire year for 300,000 low-income pregnant mothers and infant children, they cut that out so they can give tax breaks to the same number of millionaires.”
Moran also charged that the intentions of Republicans are the same as Grover Norquist, the influential president of Americans for Tax Reform. “Grover Norquist spilled the beans about what he’s really fighting about, why he’s gotten virtually every Republican to sign his pledge (for no new taxes), because he said: ‘We are going to create a structure with this debt ceiling fight so that when the Democrats have control, they will never be able to govern as Democrats.’ Those are his words.”
Norquist reportedly made the statement in 2003 at his high school reunion. When asked how Republicans could retain a permanent majority in the House, he replied: “We will make it so that a Democrat cannot govern as a Democrat.”
Moran: “In other words, we won’t have the resources to ensure that the middle class expands, to ensure that pregnant women and infant children have sufficient nutrition, to ensure that we have good quality schools to compete in the 21st century, to ensure that people aren’t left by the side of the road...They’re fighting to make sure we don’t have the resources to accomplish that objective.”
david peevers
3:26 pm on Sunday, July 24, 2011
I think this guy should be, after Obama's second term, the next President. He puts his finger exactly on the nightmarish issues that Republicans would love us to follow into the death of the middle class and the extinction of the least well off of our most vulnerable people. Children, minorities the elderly and the ill.
And the Republicans most passionate issues? Birth control and abortion! Hiding behind religious dogma, they want you to go forth and procreate, even though you have nothing. And then... they will do absolutely NOTHING to help you because you don't own a yacht.
And shame on the American middle class people who vote for Republicans and, twice, for Bush who oversaw the greatest transfer of wealth from the bottom and middle class to the top one percent of the wealthy. When, if ever, will they understand that they are the targets and slaves of a one-party system - the party of big money - that regards them as expendables?
Sincere regrets for my former country.
David
Rachael Long
7:56 pm on Sunday, July 24, 2011
I just want to say that I agree, and Jim Moran is a politician who makes me proud to be a Democrat. He is a perfect example of why we should not have term limits for Congresspeople. With his experience in the Congress, he understands perfectly what the Republicans are trying to do, what their hidden intentions are, and the dangerous consequences of their proposals. However, he is also someone who is willing to work side by side with them as long as they are reasonable. He truly has the country's best interests in his heart, as well as the interests of the most vulnerable Americans. I hope many people will read this article and listen to what he has to say.
Lee Hernly
7:45 am on Monday, July 25, 2011
"And shame on the American middle class people who vote for Republicans and, twice, for Bush who oversaw the greatest transfer of wealth from the bottom and middle class to the top one percent of the wealthy."
False. I am no fan of Bush II but, I can't let a statement like that one go. IRS data shows that a big portion of the federal income tax burden is shouldered by a small group of the very richest Americans. The wealthiest 1 percent of the population earn 19 percent of the income but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes. It is the single most progressive system in the developed world.
The New York Times reported that the average family in America with an income of $10 million or more received a half-million-dollar 'Bush' tax cut, while the middle class got crumbs (less than $100 shaved off their tax bill). If we examine the taxes paid in a static world—that is, if we assume that there was no change in behavior and economic performance as a result of the tax code—then these numbers are meaningful. Most of the tax cuts went to the super wealthy.
...
Lee Hernly
7:45 am on Monday, July 25, 2011
Continued from below...
But Americans did respond to the tax cuts. There was more investment, more hiring by businesses, and a stronger stock market. When we compare the taxes paid under the old system with those paid after the Bush tax cuts, the rich are now actually paying a higher proportion of income taxes. IRS data shows an increase of more than $100 billion in tax payments from the wealthy by 2005 alone. The number of tax filers who claimed taxable income of more than $1 million increased from approximately 180,000 in 2003 to over 300,000 in 2005. The total taxes paid by these millionaire households rose by about 80 percent in two years, from $132 billion to $236 billion.
Mike
8:20 am on Monday, July 25, 2011
Peevers, the best news of my day came when I realized you aren't a US citizen. Take your opinions of the US and go to you know where.
Sally Spangler
9:17 pm on Sunday, July 24, 2011
President Nixon went to China to get the Chinese Dictator into an agreement to trade with the US. President Reagan sold us down the river into a very deep debt. President Clinton got us our of the deep debt. Mr. Obama has returned us to the debt, only this time, the debt is so deep that we are on the point of drowning in the hole and maybe making sure we disappear into another depression. What causes depression. To us it means spending money we don't have on the happy idea that it will be all right, presently. Money is America is based on nothing except the paper it is printed on. No matter how much paper is printed and used for something we do not need, as in pretending that we can protect the world at large from all the things that are happening to them. Well, we have sent men and military weapons elsewhere to do the impossible. WE ARE NOT THE COLLECTIVE FAIRY GRANDFATHER! WE CANNOT SAVE ANYONE, INCLUDING OURSELVES. Blame - who is to blame? Too late for simply blaming someone/thing! One finger pointed has more fingers pointing back at ourselves. WE THE UNITED STATES OF AMERICA HAVE OVERSPENT OUR WORTHLESS MONEY ON WHAT WE DO NOT NEED, TO SAVE THE WORLD! AMERICA NEEDS TO TAKE CARE OF ITS OWN PEOPLE!
All the parties of the US need to come together to stop dreaming and get working on a way to keep America from drowning in debt. I have a suggestion - cut all congressional salaries and the Presidential salary, with benefits until we are solvent and stay that way.
gladys
6:00 am on Monday, July 25, 2011
I paid $32.67 for a XBOX 360 and my mom got a 17 inch Toshiba laptop for $94.83 being delivered to our house tomorrow by f3dex. I will never again pay expensive r3tailprices at stores.I even sold a 46 inch HDTV to my boss for $650 and it only cost me $52.78 to get. Here is the website we using to get all this stuff, http://BuzzSave.com
Lee Hernly
7:29 am on Monday, July 25, 2011
"They don’t know how important the stability of American currency is to the stability of the world’s financial systems. They don’t understand that the debt ceiling is not an artificial construct. It has nothing to do with revenue or spending."
False. The Republicans have passed a variety of bills to deal with the issue. The do-nothing, haven't passed a budget in 813 days (even though they are legally required to do so), U.S. Senate has failed to act on any of them.
"For most of them, their economic policy is Ayn Rand, it’s not on (economist John Maynard) Keynes or any economist,”
You can find out how wrong Keynesian economics (which Bush I, Clinton, Bush II, and Obama (Moran too!) believe in) is here:
http://bit.ly/nu9afa
The Women, Infants & Children Program Moran references should be completely funded and controlled by the state. Maybe Mr. Moran doesn't get it. We are $14 trillion in debt. On Jim Moran's watch, we have gone from $3 trillion in debt to our current figure of $14 trillion.
Jim Moran is the one who needs a lecture on spending other people's money.
Laurie
10:15 am on Monday, July 25, 2011
Perhaps Obama, the democrats, and progressives are the ones who don't understand what they don't understand. The rest of America does not want a giant, invasive, federal government sucking individuals' resources away in taxes in order to redistribute them according to human wisdom. Apparently, they do understand that if we continue down this road, heavy taxation will be inevitable, and most American's do not want that.
Freedom in the natural world involves animals feeding and providing for themselves. When you guarantee a wild creature food, housing, and health care, it has moved to a zoo! I do not want to live in a zoo, thank you.
When Rehoboam became king, the people asked that their taxes be made lighter. He made them heavier, which resulted in war, and the kingdom of David split in two. (I Kings 12)
Most progressive and democrat congressmen voted AGAINST raising the debt ceiling under Bush, including Obama and Pelosi. Ask Moran if he has EVER voted against raising it before. They weren't worried about a government shut down, a great depression, or the credit of the United States in 2006.
There is a God, and He actively distributes His talents according to His wisdom (Matthew 25:14-30). We either use them or not, and reap what we sow. Those blessed with abundance should have Christian charity for those in need (Matt 25:31-46). Man is not wise enough to re-distribute talents (which in biblical times was money).
Chris
1:24 pm on Monday, July 25, 2011
Moran on Republicans: "they’re deciding whether to allow an international implosion of our financial system, which could send us into the second Great Depression...."They don't know what they don't know."
This from one of the dumbest people in congress.
To tell you the truth, I think the Dems are running scared because their sacred cows are at risk. They know we'll pay the bills we have to pay, interest on debt, SS, Medicare, military pay, etc. but the other stuff will be on the chopping block. .
Boehner and the GOP should hold their ground and call Obama's bluff. He has two choices: fold his hand and agree to Republican demands or refuse. Either way, he's going to piss off the Democrats and he'll be the one who has to make the hard choices over sacrificial lambs.
To make a deal w/Obama is to let him kick the can past 2012. Republicans aren't going to lose the House because they honored their 2010 promises.
The Dems had two years to prevent this but they sat on their hands.
The public knows that this has been coming for a long time and sooner or later tough choices need to be made. We're on an unsustainable spending curve.
Randy
11:54 pm on Tuesday, July 26, 2011
Rep Moran notes that the increase in the debt limit is just out intent to pay our bills, really? Let us see how this works in the mind of this elected official.
We currently borrow 42 cents of every dollar the government spends, we collect roughly 220 billion dollars in revenue every month but the government spends over 300 billion ever month and that is not enough for them. Now they want to increase the debt limit by another 2.4 trillion dollars.
No Rep Moran it is not our willingness to pay our debt, it is a clear acknowledgement that you want to spend more money that we don't have and sink us in greater debt.
I know many of you still want to blame Bush, okay blame him for his part of the debt but you can't ignore the facts.....President Obama and the democrats have added 5 trillion dollars to the debt in less than 3 years and now they want to add more. Have you ever stopped to ask why the debt ceiling is not decreased?
Why don't you try this in your personal or business dealings? Because you know you would be arrested.
We can't continue to pay out more than we collect in revenues and borrow the difference. At some point we need to step up and pay the bill. I am tired of being taxed to the brink because these politicians are buying votes with someone else's ( our) money.
Funny how our current president, when he was a senator, said any attempt to raise the debt ceiling Is an admission of a lack of leadership....I guess he knows of what he spoke.
RJ
8:27 am on Wednesday, July 27, 2011
He is right sort of:
Even if the 0 out the entire FY11 and 12 budget and the US government stop writing checks....we still owe .42 to ever dollar. Nothing is going to change it, it is call incurred interest.
Also of note: the tax rates are the lowest they have been since WW2, so the Federal government is not taxing you to death...maybe the states and local governments are, but to say the Feds are is absolutely false. Sure we may spend too much and you will not see an argument out of me, but we need to cut and increase revenue if we ever want to get out of the hole. Not sure why spending cuts are even within the discussion, the debt limit increase isn’t the Federal Budget. Time to stop blaming and time to start fixing. This Rep Vrs Dem Vrs Con vrs Lib is literally destroying America.
Lee Hernly
9:14 am on Wednesday, July 27, 2011
@RJ -
Wrong. During Bush I's term, we borrowed 24 cents of every dollar and under Bush II, we borrowed 23 cents of every dollar. During Clinton's term, thanks to a GOP House, we only borrowed 18 cents of every dollar.
Also, tax rates are the the lowest since WWII. Tax rates were lower under Ronald Reagan. If you want to 'increase revenue,' then advocate for closing the loopholes and lowering the rates. Increasing taxes on the wealthy causes the wealthy to expose less of their money to taxation as Bill Clinton found out. If you cut taxes, it causes the wealthy to pay more of a share and the middle class to pay less. Calvin Coolidge cut taxes during his term and we had strong economic growth. So did Reagan and Bush II.
For an example of how increasing taxes during a recovery don't work, FDR raised taxes sharply in 1937 in an attempt to balance the budget. Once tax increases took effect, the economy collapsed into another recession – the second stage of the double-dip which lasted into WWII. It was only after FDR died that the U.S. economy started to recover.
RJ
10:49 am on Saturday, July 30, 2011
Thanks for three paragraphs but that made no sense to the post I made. Not my figures I was using the OP numbers. But your effort is appreciated.