Floor SpeechUrgent2025-03-11

BUDGET AND DEBT

TaxesClimateDefenseVeterans

Context

On 2025-03-11, Representative Ro Khanna (D-CA-17) delivered a floor speech titled "BUDGET AND DEBT" in the House. The speech addressed taxes and also covered climate policy, defense.

Full Text

BUDGET AND DEBT

Congressional Record, Volume 171 Issue 45 (Tuesday, March 11, 2025) [Congressional Record Volume 171, Number 45 (Tuesday, March 11, 2025)] [House] [Page H1074] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] BUDGET AND DEBT (Mr. Khanna of California was recognized to address the House for 5 minutes.) Mr. KHANNA. Madam Speaker, last week, President Trump came in this Chamber and said he was going to balance the budget immediately. I will just go over some facts, not politically speaking, just facts. We have got a $36 trillion debt. That is where we stand. Currently, we are running a $1.8 trillion deficit. If you were to balance the budget, that would be zero and we should stay at a $36 trillion debt. What does President Trump do with the Republicans? What is their budget? Their budget actually is going to add $28 trillion of debt over the next 10 years. Here is the kicker. It is not just that they aren't balancing it to keep it at $36 trillion; it is that they are adding more debt by adding to the deficits more than the current deficits. The current deficit projection would add $23.9 trillion of debt, but the Republicans want to add $28.5 trillion of debt, $4.6 trillion more of debt spending than the current deficit spending. I just ask for some math. You want to deficit spend to have tax breaks for the wealthy because you think that will help the economy, fine, but every American should look at this chart because the Republican budget is making the deficit and the debt worse. It is not balancing the budget. Now I will speak about my second chart. Madam Speaker, many of us want to cut waste, fraud, and abuse from government, so where should we look first? Well, how about the Pentagon, which has 13 percent of the Federal budget. Mr. Musk, who I have known for 15 years, is firing all these veterans. Is he saving money? Let's look at this chart. All of the DOGE firings, 0.004 percent of the budget, is where Mr. Musk's cuts have come. That is 455 times less than the Republican tax breaks, which are 1.82 percent of the budget. I don't understand it. Elon, you are an engineer. You are cutting 0.004 percent, while the Republicans are providing 455 times that in a tax break and you are not touching the main budget of 13 percent of the Pentagon. I have a proposal for you. You can either come to Congress to explain this chart while you are going after 0.004 percent or USAID, which is 0.7 percent, as opposed to going to the 13 percent of the Pentagon budget while you are allowing tax breaks of 455 times more than the savings you are finding at DOGE--YOU can either come to Congress or you can go to Jon Stewart. Jon Stewart called you out and said: Why not, if you want to cut waste, cut the Pentagon defense contract budget? Why not cut the fossil fuel subsidies? Why not cut the drug manufacturers who are ripping off the government? Let's talk math about how you get actual cuts because right now you are cutting 0.004 percent while not going after any of the real ``holy cows'' in our government. The SPEAKER pro tempore (Ms. De La Cruz). Members are reminded to direct their remarks to the Chair and not to a perceived viewing audience. ____________________

View original source →

BUDGET AND DEBT Congressional Record, Volume 171 Issue 45 (Tuesday, March 11, 2025) [Congressional Record Volume 171, Number 45 (Tuesday, March 11, 2025)] [House] [Page H1074] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] BUDGET AND DEBT (Mr. Khanna of California was recognized to address the House for 5 minutes.) Mr. KHANNA. Madam Speaker, last week, President Trump came in this Chamber and said he was going to balance the budget immediately. I will just go over some facts, not politically speaking, just facts. We have got a $36 trillion debt. That is where we stand. Currently, we are running a $1.8 trillion deficit. If you were to balance the budget, that would be zero and we should stay at a $36 trillion debt. What does President Trump do with the Republicans? What is their budget? Their budget actually is going to add $28 trillion of debt over the next 10 years. Here is the kicker. It is not just that they aren't balancing it to keep it at $36 trillion; it is that they are adding more debt by adding to the deficits more than the current deficits. The current deficit projection would add $23.9 trillion of debt, but the Republicans want to add $28.5 trillion of debt, $4.6 trillion more of debt spending than the current deficit spending. I just ask for some math. You want to deficit spend to have tax breaks for the wealthy because you think that will help the economy, fine, but every American should look at this chart because the Republican budget is making the deficit and the debt worse. It is not balancing the budget. Now I will speak about my second chart. Madam Speaker, many of us want to cut waste, fraud, and abuse from government, so where should we look first? Well, how about the Pentagon, which has 13 percent of the Federal budget. Mr. Musk, who I have known for 15 years, is firing all these veterans. Is he saving money? Let's look at this chart. All of the DOGE firings, 0.004 percent of the budget, is where Mr. Musk's cuts have come. That is 455 times less than the Republican tax breaks, which are 1.82 percent of the budget. I don't understand it. Elon, you are an engineer. You are cutting 0.004 percent, while the Republicans are providing 455 times that in a tax break and you are not touching the main budget of 13 percent of the Pentagon. I have a proposal for you. You can either come to Congress to explain this chart while you are going after 0.004 percent or USAID, which is 0.7 percent, as opposed to going to the 13 percent of the Pentagon budget while you are allowing tax breaks of 455 times more than the savings you are finding at DOGE--YOU can either come to Congress or you can go to Jon Stewart. Jon Stewart called you out and said: Why not, if you want to cut waste, cut the Pentagon defense contract budget? Why not cut the fossil fuel subsidies? Why not cut the drug manufacturers who are ripping off the government? Let's talk math about how you get actual cuts because right now you are cutting 0.004 percent while not going after any of the real ``holy cows'' in our government. The SPEAKER pro tempore (Ms. De La Cruz). Members are reminded to direct their remarks to the Chair and not to a perceived viewing audience. ____________________