tv Senator Lankford on Fiscal Year 2017 Federal Budget Request CSPAN February 9, 2016 10:38pm-10:53pm EST
i want to see who's left at the end of the day. janet yellen testifies on the state of the economy. that's live at 10:00 a.m. eastern. then the zika virus is the focus of a hearing. with certains for disease control and prevention director tom freeden and national institute of allergy and infection diseases anthony fauci. also on c-span 3. >> the reality is the best presidents, the greatest presidents, have been willing to recognize they weren't the smartest person in the room. and to surround themselves with
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on c-span's q & a. >> oklahoma senator james vitia langford took to the senate earlier to talk about the president's budget request. m >> $4.1 trillion.he that's the amount that congresss will then discussion over the i. next few months. it's no big secret that presidential budgets typically are dead on arrival. this one's especially so. obviously, it's the last one off the president's term. into it's required by the 1974 budget act that the president turn in r his budget by the first monday r of february.dents' b it's actually now into the y second week.f it's a week late, but it's closer to on time than other as president's budgets have been in the last few years. a lot of wish list items that are in the president's budget.
it also includes about $3.4 nex trillion in new taxes over the next ten years. it increases spending by $2.5 ns trillion over the next tenes yes including next year. challenge is the president's spending plan increased spending so much we also continue to increase the deficit, the debt andbu our interest payments. this body should realize that on current track congressional budget office ands of the president's budget that he released today forecast that with the next ten years, the ta united states of america will spend more on interest on our debt than we spend on national defense. deb now, i want everyone to soak that in. than wh taxpayer will spend more on interest on our debt, our debt payments, than we spend on plan
national defense. e the president came into office,t there was $10.6 trillion in total debt. in the president's budget lays out a plan that by the end of his n budget there will be $27.4 erat. the ho this is an issue for us. unt it continues to accelerate. until this body and until the house and until a white house problem, it will not be solved. i don't say this flippantly. the president and i have had this conversation. he does not believe that increasing deficits, that is as overpending what we bring in, is a problem.he he believes, as he's shared witt me and the american people rue publicly, that if the government overspends a little bit, that r stimulates the economy. well, that might be true in soml economic formula. but when our interest payments s are larger than total what we spend for defense, we're in a spiral that we cannot sustain.
we cannot keep saying we'll add more debt every year. and there is no reckoning for that. totallitera debt right now excf co literally if you took -- from every single american in the entire country all of their vey income for the entire year, we could not pay off i our debt. t, we are very much at a tipping ci point. problem that congress faces, congress never seems to o act until they have to and in thisho type, in economic crisiso when youut have to, it's too lay how do we get on top of that?y n how do we stop bragging about be how much then deficit has been t cut and actually start reducing our debt? because for many americans, youy ov don't hear the differences yea. between that because they don'te live in this world of all these different terms. deficit is how much you the debt is the accumulation of allc those deficits. tha and as washington continues to n
talk about, you know, what in sn the last six years we've cut the deficit by a trillion dollars. l well, that's a good thing but s the problem is in the last ten years the debt has always o wit doubled. as deficits are still so large every single year that there's f problem. so what do we do with this? i would say there's multiple things. one is we're not going to get g out of this in one time period.i this body needs to understand this is not y aea car payment wl paying off. this is a really big jumbo mortgage. we're not going to payking this in one year. co fact one stroke. this is going to take multiple years of picking away at this. t i have reminded several of my colleagues of this one soberingt fact. we were to balance our budget and set this ten-year time period and actually balance the- budget, if the next year after 0 our balanced budget we had a $50 billion surplus, $50 billion, ia we had a $50 billion surplus as
a nation, it would take 460 as l years in a row of $50 billion surpluses to pay off our debt. twice as long as we've been a country if we had a $50 billion surplus every year, we could pay off our debt. that' at some point we have to admit this t is a really big issue. cbo has continued to rattle our cage.in that'sg to congressional budgete office.he as all of us know in this room. and remind us that this debt ist continuing to grow. and we do not have the resourcea to do it. for the first time since 2009, m our deficit will rise. that's up 24% from this last fiscal year. tetiona they used social security they
set aside their entire life to i go into. as that number continues to rise and as discretionary spending e? continues to stay fairly cappedf measure not getting on top of the big issues we face. let me just mention a couple na ever this congress created somethingt called the congressional budget office that set up the process of how we would do our budget avenue year. toget getting to the process, getting from the president, everything, set all the deadlines. since 1979, the congressional budget act and the way that it was set up since 1979 it's only worked two times. twice since 1979. want there's aed problem.o a
coming out of watergate in 1974, they wanted more transparency. so they created this process so cumbersome that since '79 it's only worked twice. to give you some more up to date details, we should have passed 118 appropriation bills in the last ten years. of that 118 appropriation billsv only seven of those individual bills on time.hrow seven of 118.sider, we have a problem just in basicd process. let me throw a few ideas. that i would recommend to this g body we consider. because if we're going to fix our debt and our deficit, we also need to look at the procest of how we do budgeting and fix t this. here are a few trillio thoughts. you year. we do a budget every two years.o we should at least do a little o
bit of advanced planning. we should be able to do that two years in advance. le the spending. every we could do appropriations everf single year to be able to provide accountability. the how major budget process we should do every two we should get rid of the udget. gimmicks that dominate this body and how we quote/unquote balance the budget. i like pinch and smoothing. corporate timing shifts be an odd of our favorite chips, insi which everyone outside this citd thinks is a monkey and everyon inside of this city know it's just a great budgeting technique. here's how some of those work. here's an example from october's budget agreement. the acceleration in section 502o changed the due date from pension premiums from october 15th, 2025, to september 15th, d
2025. in order to get $2.3 billion ten-year window. now, what just changed there? they moved the payment time 30 days forward. and said that's when it's do. and since they moved it 30 dayss forward ten years from now, now suddenly that's another $2 billion into the federal budgetd if our federal budget wasn't ten years, it was ten years and b t week, it would have about $2 li. billion short. but because they moved that th a month and made it a little bit earlier, it suddenly picks up $2 billion. it's not real. like that's a gimmick. the changes in mandatory programs that go out there. take something like the victims protection fund. an fund that is expected we will spend. but when we don't spend part ofo it, they'll say great, you can t take that part we were expected to spend and you s actually spe
this year and then guess what, e next year you spend it again, next year you spend it again. good that should be struck. we shouldn't have little gimmicks like that. those things make congress look good look good, but don't actually deal with our deficit and our debt. r the rules that are internal, need to be fixed. we need to get real numbers andt have agreeable real numbers. right now there's a big argument all the time saying, how does f the budget balance against the a president's budget? this baseline, that baseline. as a lot of programs have not beena working for a decade. a but we continue toble allocate every single year. it's important to do the te,wor to bring bills to the floor and get it done.rent f we have reports shows waste.ight yet many of those, no one ever
acts on. three different folks that i set on the floor here right now, te senator flake from arizona, doll we reports in the past five months. detailing billions of dollars io waste.rocess we can identify these things. the inspector general's office l can identify these things. than the gao can identify these areas. we set a process in place that solves those things. our and we can do more than talk about it. r we can move it from just a messaging moment to solutions on our debt and our deficit. i recommended things like the et government shut down prevention, to say we don't have the ns a government shutdown. money al romantic about government wa shutdowns and what they would ml accomplish. government shutdowns alwaysn ce more money to the taxpayer than is safe.this. always. and itcongress causes a tremend amount of turmoil in the federa.
workforce. how easier way to handle it. easier way to handle how about we do something really simple and straightforward. at the end of a budget year, if we do not have a budget in place and proper appropriations, we have aex short-term continuing resolution for 30 days that automatically goes in place and allth legislative offices, and 0 executive office of the white house get a funding hair cut immediately, to create the incentive that we need to hou ar 30 days later, we still don't have it done, the executive are pres house, and the senate get another hair cut. tho we can add the pressure to us that don't damage the rest of the nation. why don't we do those things? pass a balanced budget amendmeni that we talked about forever, that we voted on in 2011 and has not come up again. we