tv Key Capitol Hill Hearings CSPAN February 12, 2016 8:00pm-10:03pm EST
>> this is in st. paul minnesota. this is the humphrey-mondale hosted by the democratic-farmer-labor party. later we will hear from bernie sanders and hillary clinton. we will bring you back here for their speeches around the 30 p.m. -- around 8:30 p.m. and a look at some of the details in president obama's budget request, which was delivered on tuesday to congress. is mayaining us macguineas, the president of the committee for a responsible budget. how is the budget process supposed to work on paper and how has it worked in the past?
maya macguineas: it has a very set calendar. step number one, the president put out a budget in february. host: is that by law? maya macguineas: it is. for those who like the budget, we know about the budget act. it lays out basically a calendar of events. following the president's budget, which interestingly is not required to be the starting point, but after he puts it out, the congress moves into action and another budget is put out. how much they think about the budget, to be political, it depends on which party it is. there are statements of the parties on what they want to do, less on realistically how we will move forward. the house and senate each put forth a budget, then they
reconcile them. then they have to put forward numbers. if you think about the budget, one third of it is discretionary, so it goes through the appropriations process and every year is determined how it will be spent. two thirds of the budget is already set in law. mandatory programs like medicaid and medicare, the eighth -- the va benefits, these are all set. it is predetermined. so after the senate and house come forth with other agreed-upon -- their agreed-upon budget, then it is decided how they will use the budget. now, what happened more regularly than not these days is, the president ignored, and the house and the senate do not
usually agree, and then the appropriations process which is supposed to go through all the money for different areas, that hardly gets finished. so then we have the end of the year showdown where we start to talk about, will there be a government shutdown, are they going to have a continued resolution, or will they take the funding stream from the previous year and extend it. so the real problem is the budget process, which makes a lot of sense. we do not stick by it. there are no repercussions if they do not. committees,budget they do not get work done and nothing happens. and there is no buddy at fault. there is no plan for what the budget will look like. we could amend the law and to say that the budget from the previous year -- or until a new budget is put in. something that recognizes that this work is not getting done regularly. washington --y in
in the budget process is politicized and therefore the outcomes of it is taken less seriously. i will give an example. last year and with the budget that came out of the house and senate, to their credit, congress did get a budget done, but they need to balance the budget over 10 years, they were going to save about $5 trillion and what did we do last year? we added $1 trillion on top of what they already assumed they would in debt. just because there was a budget that, we had a lot of savings plans that did not constrain them to stick with that in the laws they passed and we did a lot worse on the fiscal front of the budget called for. host: is there any power of law with what the budget committee comes up with when they say, here is the house budget, the senate budget, and this is our top number?
does that top number have the power of law? maya macguineas: no, the budget resolution is not legally binding the way the other laws are and that is a problem. the president's budget does not carry weight, it is not binding. we have budget rules, which are supposed to keep us on track and keep us consistent, but those are waived and it is not a law. so anything about how we can strengthen that so that the process is taken seriously. host: what is the purpose of the budget committee right now? are they paper tigers? maya macguineas: i do not think i would say that. i think that the potential in what they do is important. i think that the problem is after the budget committee, after they do not get budgets done. beyond that the problem is that congress and the president do not stick to that. it would be a lot more serious if we do not waive the roles
that are required that they stick with the budget. we have a role saying that if you are going to pass a law that adds to the debt on the spending side, that you would find a way to offset costs. break early, they do pass bills and they waive that requirement. that is how we ended up adding that $1 trillion last year. and the budget committee has a great working knowledge of the budget, which there is not always in widespread congress. allocated that they have an abundance of information on programs and how they work, so in evaluation of programs, which they will work into assessing on the programs that should be moving forward. i think that we should elevate the problem -- the power of the budget committee, we should put more folks from leadership on the committee and we should change the rules so that they are binding. and we need to find ways to strengthen the process. the challenge is, we don't have
fiscally responsible policies. is a do think a first step strengthening the process and empowering the budget committee. point, thee --ropriators were named the in congress, but has their power been changed over the last 15 years? maya macguineas: that is right. people wanted to be on that committee and it was powerful. what i think has changed is that the fiscal situation has grown increasingly bad. we are in a dangerous place and that debt is at record levels, the highest it has been since world war ii. the deficit, which came down after the great recession, it is now expected to grow forever, every year. interest payments are the fastest-growing part of the budget. what happened, when the fiscal
situation -- a lot of this is given by the fact that we are aging, baby boomers are retiring and we are becoming an aged society and it is putting a squeeze on the discretionary part of the budget that i was talking about. so what has happened is the appropriators have a much less desirable job, where instead of figuring out the dollars and you are lobbying to use the dollars for more programs, they are try to figure out how to comply with the budgetary squeeze we have, which is a result of entitlement or mandatory programs growing, social security, medicare, the aging health care that is squeezing out the budget, and the sequester, the policy put in place after we can't put together a real budget deal. and this is across the board spending cuts. most years, we have waived part of that and bumped up the
numbers, but is still very tight in the appropriators' area. they are trying to figure out how to squeeze dollars and it is a lot harder to be somebody who says no, then saying yes. a lot of numbers -- a lot of members say they do not want to be in appropriations. it is a tough job right now, that leaves you being irresponsible or making hard choices, which is not something that people want to do right now. host: last year was the first year in some time that several bills were considered and passed, correct? maya macguineas: last year, we did pass some of the appropriations bills. the best we have seen in some time because they did path the ss the budget,pa but we are still far away from passing these bills on time and having a budget in place before the fiscal year, october 1.
now, thatsumption is we will not pass them. i do not know what will happen this year. there is speculation that we will not pass it out of the house and senate and how we will go through the process, it is breaking down even when there are signs of life. that is not what we should be shooting for. host: articles in the paper about paul ryan wanting to pass a budget, having to fight his own party. maya macguineas: he has a really challenging job. the first thing is, he is an expert on the budget, there is nobody knows it better. he has been a chair of the budget committee. he is a policy walk -- wonk and he knows the issues. he is now in a delicate situation. he can drive policy and he is really able to bring members along. now he has a job of process.
this is a very different job. he has a number of members, some very conservative, that say the budget deal at the end of last year, what this deal did was increased the amount we could do on discretionary spending, the one third of the pie that was limited by the sequester. we increased how much we could spend to their and we -- there and we offset it through mandatory spending. basically, we increased spending and promised savings later. but that savings is not as likely to come. and among conservative members, they are saying, we know that you signed the deal and we do not like the deal. meanwhile, democrats will not support it because these political documents will be very public and will not be a bipartisan deal, but you're not
going to get democrats on it. he has a question about whether he can get the numbers to pass the budget and at the same time, both he and mitch mcconnell have been talking about how passing the budget is a sign of the vulnerability of government. it will look like he has republicans who are a majority in the house and the senate, why can't they put forth a budget? host: that would be regular order? maya macguineas: right. regular order would be they reconcile the budget, the appropriators pass the bills, the government is open and working on the first day the fiscal year. if i was predicting, i will promise that i will break down between now and october 1. host: four is the question -- sequestration right now? maya macguineas: if you break , -- there wills
be automatic across-the-board cuts. republicans in general would like to list them on the defensive area -- lift them on the defense area, but democrats are worried. we have a fiscally irresponsible alliance that pops up every couple of years where they say, , you canft on defense do it on discretionary, we will pretend like we will save later and we will not really do it and then sequestering does not go into effect. but, let me take a step back. this reflects that the sequester is focusing on the wrong part of the budget. the discretionary part is not where the problem is, this is not where the growth in spending is, it is projected to be at massive record lows because we are squeezing that part, but challenging the budget, like i
said, we are aging, health care costs are growing. we like to spend money on things and we do not like to pay for it, we do not want to put in taxes. if we want to be serious about the fiscal situation, and we have to be, because if you have a week fiscal underpinning to the economy, you are stretching the growth of the economy and standing in the way of competitiveness, job creation, wages, i mean the budget is boring, this is not some thing that people worry about on a regular basis, but it does affect everything we care about and we cannot continue to borrow like this. if you care about getting this in a healthy place, we need to look at spending, the tax code and focus on discretionary spending will not get us where we need to be. we need a much larger budget overhaul that looks at the real fibers of the debt. host: the difference between debt and deficit? maya macguineas: a lot of people
do not understand the difference. the deficit is how much we borrow each year, the annual gap. we have taken taxes, we spend money, how much short have we come up? the debt is the additive amount of those deficits, whatever we had to borrow get added to the debt. what we go to the public, we borrow from treasury bills. and to this result in what we have borrowed from ourselves in trust funds, that is was the security was taking in money more than they were paying out benefits. we borrowed the money and spend it. we need to repay it. there is a debt owed to the public and a total debt that counts the debt we go to ourselves. the reason the difference matters is, since 2009 when we coming out of the economic downturn, our deficits where
massive. the country became worried about fiscal challenges, because we had a trillion dollar deficit. deficits were not a problem at that moment i'm of the sinking economy was the problem. -- the sinking economy was the problem. now there -- now the economy has recovered, the deficit has come down. but ok, the deficit was helping in some ways speed of the economy when there was not enough demand. but now the debt has been soaring as a result. when we went into the crisis of 2008, the debt was at an average amount relative to the economy, below 40% of gdp. now it is 74% of gdp and it is heading up over the next 10 year. we just got some scary projections. the reason that matters, as i was saying, it affects the entire economy. that includes wages, jobs,
economic mobility, the ability to invest. what i think we should be really worried about is, when we have our next economic crisis, we will have one, we are probably closer to the next crisis than the last one, given the length of the business cycle. we do not have the flexibility we had last time when debt levels are twice the average and it is much harder to go into a recession and use the budget to stimulate demand and counter what is going on in the economy. we were very lucky when we hit the 2008 crisis to have such a healthy debt situation. we do not have that now. back then, we had the media and candidates saying, these things are getting better. meanwhile, the debt was going up at a significant rate. at record levels, this leaves us
in a vulnerable situation right now and it is something i worry about. host: the budget from the $1.45 trillion, the federal deficit would shrink to if that shrinking debt becomes 75% of gdp, the pentagon portion of the spending is $582.7 billion. maya macguineas is our guest. she worked at the brookings institute and on wall street, she has a masters from the jfk school of government at harvard. what is your committee? maya macguineas: the committee for a responsible federal budget is a great organization. .his is our 35 year anniversary
when i was at the kennedy school studying, i kept thinking, my dream would be to have a independent, am an but i do not understand why we split ourselves into parties, so i wanted a bipartisan organization that pushed for fiscal responsibility. turns out, there was this wonderful committee for a responsible budget and i got tapped to lead it. the board of directors makes it is made up of all the people who have worked on both sides are working on budgeting. they run the fed, the treasury department, the budget committees. our chairman, mitch daniels, now the government of perdue -- now the president of perdue. obviously, these people are across the spectrum from conservatives to progressives, same with the board.
what i think is special, not only are they engaged in these issues, they know what it takes to budget. this is not a think tank with pie in the sky ideas, these are people who have been there, done this, and they are working with policymakers to make us fiscally responsible. we spend a lot of time working with members of congress, educating them about the budget, helping them come up with ideas, ways we could pay for things, but together a deal. we also spend a lot of time outside of washington because public education is key. member education is key, media education is key, it is very rewarding does a lot of people outside of washington get it. they understand you cannot borrow indefinitely and the budget from the president for instance, that debt would never come down. it would not decline from record levels where it is right now and
that is frightening. out in the state, people understand this. what i do not think they understand is why it matters to their lives. you have a feeling like borrowing this much cannot be good for the economy, but then you have candidates who come along and dangle great new programs or tax cuts or free this and that. people are telling you that the deficit does not matter, but how can you believe that? tos is actually connected your economic well-being. if we put a debt ceiling in place, like the big plan that would have put the debt on a downward path, you would over time see significant growth in the economy and standard of living, people would be making more on average than they would without a debt deal. it affects the bottom line. and we talk to citizens about this, especially in a political year, trying to get them to talk
to candidates directly, saying, you cannot promise spending increases and not talk about how you will fix the debt, because when you are in office, the next person who is president will have to tackle this issue. we will not be able to kick the can any longer. and if they have not talked about it on the campaign trail, it will be harder for the american people to understand that we need transparency on what we are spending, and how we are raising money, not putting it on credit cards and passing that bill onto our kids. host: your turn to talk with maya macguineas of the committee for a responsible budget. go ahead, alan. outer: i wanted to point one quick point of accounting with the afford will care act. upt it does is it brings
this revenue generated by the student loan program as a way to pay for it because of that whole thing. this is bad, because student loans are predatory. the government not only makes money on interest, but also on default. this is a horrible thing, it causes inflation. my question is, who keeps the accountants in check? paidquick follow up, we -- in tax after one or two in world war ii. today, the richest of the rich pay 15%, how can anybody say that they are being taxed more now? maya macguineas: paying for the afford will care act, student loans, and are the rich paying enough, those are the three
things. isordable care act incredibly contentious, some people love it, some people do not. that will continue. i will say one thing about it, i take your point that you want to have something that makes sense. that is a fair point. i think that in the defense of the affordable care act, what they did is they paid for it. that is something that we have not seen for some time. we have had multiple wars, a prescription drug program, multiple tax cuts on another which were paid for -- none of which were paid for. so, deciding whether you love or hate it, the notion that you have to pay for it is important and despite the fact that there with obama care,
we have not gotten rid of the spending programs, but we are scaling back on what it had paid for. the cadillac tax is an example, this is a way that we are taxing high dollar health care programs to help pay for the aca, that has been pushed back and there is a concern that it will be repealed, because people do not like it. guess what, people do not like taxes and this is a big thing. people do not want to pay for the spending we have. so we are scaling back on the pay forward things. it would help control health care and raise revenue. if we get rid of it, we should replace it with something else. student loans, you should probably devote more programs to this, student debt is a huge issue, the private sector versus the government with financing.
clearly, we do not have the right models yet. they are both redundant and there is concern about taking on more debt. i think it will be one of the big problems we need to tackle. now you bring up one of the biggest topics in the campaign, and it was discussed last night at the debate, the whole campaign -- the question of income inequality and what a fair tax code is. there is no right answer, there is an eye of the beholder. it is important to note that tax than theylower now used to be. they were as high as 90% for the 1%, they went up, came down. trade-off on how you raise money efficiently and how you raise it progressively. i think there will be a
consensus that you need to raise more money at the high end, particularly because of all the marginal tax rates, 39.6, the effective is what you pay and that is much lower. a big reason for that, in the tax code we have expenditures, year in$1 trillion a loft revenue because of credit the duction -- exclusions, tax breaks, the largest portion going to the well off. the one thing people can think about, should we be raising tax rates, because the point is higher tax rates show the bigger disincentive to do your taxes. income, thisxing is a tax where people consider if they want to work or not.
so you can make the case that people making millions will not stop their jobs because they pay a higher rate. we can look at literature to see when that is true or not true. i think a really important place to look at is getting rid of tax breaks and think about how to have fewer tax breaks for the well off and make those rates go more progressive. done thesure i have question justice, because this is a huge topic. the distribution of the tax code is not what will deal with the program -- the problem of inequality in the country, but i think that it is a piece of it and our goal should be to look at a tax code that is progressively and as efficient as possible. that would be a major overhaul of the tax system, it is already a mess already. we've been looking at reforms
that would raise revenue and be distribution only -- and would be fair. caller: i have a question. tax breaks. income earners pay 70% of federal income tax. if they are the problem in america, i would like to hear the reason. i do not understand. the tax code is 73,000 pages. i am confused, why not make it more transparent. have a transparent tax code. host: i think we got the point. i want to follow that with this tweet, this is from wild and wonderful, have you calculated a
plan for eliminating the debt? if so, how much for each and for how long? pain --point, 10% pyaing 70%. committee, have you done any work on this? maya macguineas: the question, you have to go through the numbers. income inequality is huge, the most well-off are making the most money. the other side of that, they are also paying the greatest share of taxes. i do not think we will fix the problem by taxing the well-off more, we need to solve it by growing the economy in a way that is shared more broadly with workers at all income levels. that is a huge challenge and honestly that is the discussion. i wish the country was having this during the debate. how the venture you are growing
-- how do you ensure that you are growing the economy, where you have the incentive to grow the economy, but also there are profit. this is a real challenge any time of industrialization, these are really tricky issues that i do not know all the answers to. i wish every time i was watching a debate i was getting more ideas about how that would happen. and it affects two different ideologies, i see merit in both of them. on one hand, the richer making so much money and they are paying low taxes, and on the other hand, the share of the taxes is coming from the well-off and it is huge. it is hard to say that they are not paying enough taxes. the real challenge is how to grow the economy in a way that benefits people on the spectrum. the israel work to be done --
real work to be done and we need to look at the private sector, how they organize and this timmy me is a fundamental policy challenge that we should be working on. nonpartisanut in my plug, there are good ideas from both parties and one of the things that happens in election embracesf a republican something, a democrat refuses it and vice versa. for us to be competitive, we need a thriving middle class and i would like to see more joint effort on how you can do that and modernize the economy for a different environment then we used to have. host: matthew from new york, go ahead. caller: good morning. with,d like to start off i do not think that austerity works. you know, the trickle-down theory.
i was listening to the republican guy before me talking about how the rich where pain -- paying 70% of all the tax bill. i find that hard to believe because i read somewhere that ceos and people running multinationals, they are trading their actual salary in for stock or bonds in their own company, so they don't actually get a huge salary, so if they are not receiving the salary, they are not paying the tax that should be do -- due. and what do you think about inversion? i have been reading about that. is there a way that we could possibly tax any offshore money that is held in various places like the cayman islands? host: we will leave it there. maya macguineas: a lot of good
points and i realized i did not respond to the twitter question. i am not a fan of austerity. one of the good things about our economic conditions in the world is that we still are the strongest economy in that, when things are, when people get jittery, they by u.s. bonds. this is a great luxury. despite the deficit and debt at record levels, they -- we do not have to shrink the budget immediately the way that some other countries have to in the face fiscal crisis. what we need to do, there is a big difference between austerity , and fiscal responsibility. which is what i would make a huge argument for. you cannot have a debt growing faster than the economy on an unsustainable tax, where it will continue to grow and grow and interest payments are the fastest-growing part of the budget and you are no longer able to make investments and you
are creating incentives against growth. i would say that fiscal response ability is looking at it in the long-term. had we get debt back on path. we do not need to make changes that shut the deficit, but over time, maybe a 10 year amount of time, that will change the trajectory of the debt. we are lucky that we are able to do that and the markets are not forcing us to do austerity, but why are we risking it? we know the answer, politically it is hard. but we know that the remodel beld be -- right model would not to focus on the short term, to get that trajectory where it is manageable. here is what we will do. the committee for responsible budgeting, on our website, we will have the numbers posted said that people can come see
that this is a balance assessment of how much different groups of people make in income and how much they pay in taxes, looking at income taxes and total burden. you can tell whatever story you want out of there. , butich pay a huge share they also make a huge share of the income. there is no right answer, but the discussion will be helpful if you have all the facts. it will be on our website. and corporate inversion is a real problem. i think that our economic system has not caught up with our globalized economy and there is a competitiveness issue where we know that companies are going to move to wherever they can to minimize taxes. and they are still getting benefits of being in the u.s. come as they were growing as a corporation. you can try to put these in
isolation, i do not think it will be successful. i think we have to have a major overhaul of the entire tax system, if we cannot do the individual and corporate plans, we would have to do it separately. we will need to look at how corporations are taxed, reform all those, equalize different treatments around different countries and try to get rid of incentives for them to go abroad. there are also measures you can put in place where you will not get the benefit you could if you do invert. but there are smart people out there ahead of the tax laws and you cannot put the genie back in the bottle. you cannot keep corporations from going abroad. i also think that corporate taxes, a lot of times it could be easier to capture that revenue by having a tax code
that taxes people who are making the money, whether it is shareholders, executives, the earners. if you tax at that level, it could be more effective. so the question that was asked on twitter, which was interesting, because i always thought you should not be out there whining about something if you are not willing to put forth a proposal. the best proposal out there is this five-year plan that is still rebel -- relevant. people should look at it. this talks about reforming every part of the budget, how to fix social security, how to bring down health care costs, how to have savings in the budget, but this is further than recommended. how can we pull money where we can invest in opportunity funds. how to raise revenues, which we need a but to do so in a way that lowers the tax rate and broadens the tax base. we would take in more money, but
with fewer inefficiencies. rivlan was another plan that was similar and equally effective in looking at all parts of the budget and achieving the goal of getting it there. i worked on a plan like this with colleagues, putting for they plan to say that this is what it would take. the important thing is, people need to understand what is involved. you cannot listen to people promising trillions of dollars in tax cuts or trillions of dollars in tax programs, without understanding how it will fit into the budget. on our website, we have a similar later -- simulator. this may not be a fun thing to do on a friday night, but there is a budget simulator where you can say michael is to balance --
my goal is to balance the budget and it will take you through all of your choices. what do you want to do on health care, social security, taxes, where do you want to spend more money? we do this with congress all the time and they learn a lot. looking at the trade-off is critical. there are a million things i would like to spend more money on and i would like to have lower taxes, but those don't always work well together. so the simulator, for anybody, it is on the website and it is informative about the trade-offs. the answer is, yes. we have put forth budget plans and they show what it will take and the important thing is introducing an element of realism into the discussion. , everybody campaigns is talking about deficit and debt mattering, but the proposals do not get us there.
on the republican side, we have $1 cuts that would move trillion, to some that would lose $10 trillion. and then they say, we will close spending with these things, something that is not specific. you cannot get from that loss in tax cuts -- with tax cuts. tax cuts do not pay for themselves. tax cuts when they are structured well, they grow the economy. cutting taxes helps grow the economy, but it does not grow in enough to pay for itself. -- by one taxes dollar, most literature says you should get at least 15 sense of the dollar back, so we cannot cut taxes and pay for them ourselves. you have to be willing to cut spending and on the republican side, we have not heard specifics.
on the democratic side, we have heard about new spending plans and proposals on how to play for them -- pay for them, but these are large and they will absorb a lot of tax dollars. and the tax rate, especially under bernie sanders proposal, this goes high. that is before he has done one thing to get control of the record that. -- debt. if you take all that money and put into new programs, we are still in a fiscally dangerous position. my point is, primaries are not a good time for fiscally responsible policies, but you need to listen to all of these promises and figure out, how can we pay for that and figure out what would you put in the first budget to help get the debt under control, because if we do not have that discussion we are peddling these ideas that are not backed up by numbers and it will make it more difficult for
this country to really put in place a fundamental budget plan that makes sense, that is fiscally sound and is part of a whole plan to grow the economy. you cannot have growth, sustained growth, when you have a very weak underpinning to the economy. host: bob? caller: good morning. thank you for taking my call. and thank you for the guest, for the work she does. said,inston churchill america does everything wrong until it finally gets it right. having said that, in your opinion, how many years do we have to go before our backs are so against the wall that we need to address this madness? face it, this is what it will take, this country to finally have it back against the wall and have no choice but to address these issues, so in the
guest's opinion, how many years numbers wise? host: you have one minute to answer. maya macguineas: excellent question. there are two models for changing the course, leadership or crisis. this is why i am focused on the election, because it seems important to get a leader who cares about these issues in the white house. if we do not have political leadership on this, it will never be a grassroots movement, i wish it was. it would end up ultimately being a crisis that would force are muddle our hand, or we along. we keep making small improvements, we do that with raising tax rates. that is not smart. they close the gap a little bit, but in a way that is not good for the budget for long-term thinking. i worry that we will keep
putting in place little budget deals that are not smart, that are politically motivated, short-term oriented and did they do it enough to stave off the crisis, but not enough to help the economy grow. everybody will suffer. the crisis that will happen will depend on how the rest of the world is doing. when that changes, we could find out. , the maya macguineas president of the committee for a responsible budget. on this friday night, you can go to their website and create your own budget. spendyou, come back and three hours with us. the house of representatives is coming in early today, nine at 5 a.m. -- 9:00 a.m., they are on their way and. -- way in. orking on issues
like debt limit and north korea. >> tonight on c-span, democratic presidential candidates, hillary clinton and bernie sanders will be speaking at the humphrey-mondale in st. paul, minnesota. before we hear from them, a quick look at millennial's and their impact on the campaign. in the latest edition of time magazine, also available online, eft.kids are all lf join us on the phone is paul taylor, who is also the author of a new book called "the next america." older americans are getting wealthier and younger americans are getting poorer, so how does that play out politically? >> it plays out in ways that we
began to see earlier this month, we saw something in the democratic primary that to my knowledge has never happened before. we had hillary clinton winning the older vote by margins approaching 2-1 manuel bernie sanders was -- whiule bernie sanders was winning the youth vote. i have never seen an age gap of this magnitude in a presidential candidate contest. i think that this shows the anxieties that we are feeling. we are in a tough new normal and we have a shrinking middle class and all the rest. showingiliar, the story the increased inequalities in the age cycle and it is tougher for young adults today to get started in life then it was 10-20-30 years ago. whereas older adults have been
largely shielded from them. if you look at many indicators, the older adults today are doing better than yesterday's. >> a couple of points from the essay, you say that young voters are allergic to --, why? >> let's just look at the campaign that is unfolding before us. there is a tremendous roar of protest in both of these primaries at politics as usual. whether it is gridlock or politicians are not responding to the major economic challenges, even national security challenges that we face, said the share of americans who described themselves as independent is growing steadily over the past decade. this is a pattern driven by the young. millennials, 18-35, they are the largest group in both the
workplace and electorate. whether -- they are asked which party they are and they say independent. they are moving away from traditional party labels. >> and a couple of issues, nearly four out of 10 living with a parent and that has increased. and they are only about half as likely to be married at the same age their parents got married, so how does that play out? paul: these are all related, they have a hard time getting started in life, this is not a bad place at mom and dad's to hang out. you do not have to put coins in the washing machine. this number spiked during the recession. we know the unemployment rate are down and some of the recession is going away, but that pattern has not changed. that is both economic and cultural factors.
listen, as you say, they are not getting married. how does this play out economically and politically? once he intends -- one thing it tends to do, the other adults say they want to get married -- young adults want to get married and when they are asked, why haven't you, they said i am not a good provider, i do not have the economic foundation. this is self-perpetuating, because marriage throughout ,istory has promoted prosperity the division of layer and all the rest -- labor and all the rest. the marriage decline has been greatest at this end of the spectrum. so you have a growing share of young adults not getting married or doing well economically and frankly that is the share that is likeliest to be politically left. we talked about the divide between hillary clinton and bernie sanders among is annials, but there
important divide between republicans and democrats. the leading republican candidate for this year would be mitt romney, the incumbent president. so this is a very liberal groups. you have an untested question, how politically active they will become. bernie sanders is relying on a political revolution from the young. he did not get a big youth turnout, the youth turnout in the iowa caucus and new hampshire was low. lower than when a bow on -- barack obama for ram. -- a newear book 'sperback version of paul book is available. you write that they tend to be
distrustful. how that affect how they vote? paul: there are two things about this trust that is striking. there is a question known as social trust, not about trust as institutions, but in human beings. millennials, even though that they are optimistic, they are less trusting of other human beans. >> we will not take you live to minnesota for the remarks by the presidential candidates, starting with vermont senator bernie sanders. [applause] senator sanders: thank you. [cheering] senator sanders: it sounds like some of you are ready for a
political revolution. [applause] alright.anders: let me thank you all very much for giving me this opportunity to say a few words. these teleprompters are not mine , i will look down. thanking all of you for doing what too few americans do. and it is because you love your state and your country, you are prepared to get involved in the political process. you understand that many men and women fought and died to preserve democracy and you are doing everything you can to make sure that we have a vibrant democracy. so thank you all very much. [applause]
senator sanders: and as we were driving here, my thoughts went to an old friend of mine, of he and his wife sheila. elected in 1990 at the same time. we became close friends and we worked together on a number of issues. i want to thank the democrats of minnesota for making sure that paul's work and more importantly his vision, is never forgotten. [applause] senator sanders: everybody in this room understands that no president, not bernie sanders or anybody else, can a loan -- alo
ne address the crisis facing this country. the reason for that, which is not talked about very much in the media or congress, is the reality that big-money interests, wall street, corporate america, campaign donors, they have so much power, so much influence over the economy and of this country, that no president can do it alone. that is right. i could sit here for 10 hours and tell you all the things that have to be done, but i will be wasting your time, because nothing significant gets done unless millions of people come together, including working
people who have given up on the political process, young people who are involved, african-americans and whites and latinos and native american, andn americans, gay straight, men and women, young and old -- unless we revitalize american democracy, so that we have one of the highest voter turnout in the world, not one of the lowest. [applause] senator sanders: when millions of people get involved in the political process and a look at washington and say, you know what, our government belongs to all of us, not just a handful of wealthy campaign contributors. when that happens, we transform america. [applause]
senator sanders: our job, the be beatingill republicans, because when you look at what they stand for it is a marginal position. very few americans believe in the republican program, how many people do you know think that it makes sense to give hundreds of billions of dollars in tax 1%,ks to the top 2/10 of and then cut social security, medicaid and medicare. it is not that it is not right, very few people believe that. republicans win elections when , when become demoralized
they give up on the political process, when they do not vote or get involved, and win big money buys elections. republicans when one voter winout is low, democrats win voter turnout is high. our job is to create a high voter turnout. [applause] senator sanders: this concept of involving people in the political process to make change , that is not a new idea. this has been going on forever. just a few minutes ago, i had the privilege of talking to some of the leaders of the trade union movement in minnesota. and they understand, and you all workersnd, that when came together to demand to sit
down and collectively bargain contracts, that did not happen because employers thought it was a great idea. [applause] senator sanders: that happened, that happened because working people said, you know what, we are not beasts of burden. we have rights. we want to be paid a decent wage. they stood up and they fought for unions and they fall for those rights -- fought for those rights. owes theker in america trade worker movement. [applause]
mr. sanders: and it's not just the trade union movement. does anybody here think that the civil rights movement is simply about lyndon baines johnson signing the voting rights act? up.ge comes from the bottom it comes when people stand up is noy the status quo longer acceptable. years people stood up and fought, sometimes they were lynched, sometimes their homes were bombed. i was in birmingham, alabama. i went to the church where four beautiful children were killed because of a racist explosion. day,i learned on that
there were 14 bombings in birmingham during that month. see byty was under racist trying to terrorize people fighting for civil rights. of birmingham, blacks and white allies said sorry, segregation and racism is going to in an america they stood together -- america. they stood together. they sat in. we made huge breakthroughs. not because of somebody on top. it happened because millions of enough.aid enough is what about the women's movement?
said we years ago women are not going to be treated as third class citizens. we are going to do the work we want to do. [applause] ,e are going to be able to vote to run for political office. huge struggles. but women as a result of those efforts made in norman us progress -- in norman's progress. the environmental movement didn't happen in washington. it happened because people said what is going on on this planet of ours? you can't destroy it. we have to protect the planet. you think about gay rights. if we were sitting here 10 years ago, and somebody said i think in 2015, gay marriage will be , the personstates
next to him would have said what are you smoking? which raises another issue. [laughter] but the point is, when people at the grassroots start moving, and when they say this is not right, in this country people should have the right to love anyone they want regardless of their gender -- [applause] tremendous changes took place. ,ou go and talk to young people they shrug their shoulders and say what is the big deal? that is what a revolution is about. [applause]
if we were here 40 years ago, somebody jumped up and said i enough,erica is mature it has gone far enough, overcoming racism, in 2008 we are going to elect an african-american as president, there a few people would have believed that can happen. but it did happen. [applause] then, ithappened doesn't matter whether people like obama or don't. they said we're going to vote for somebody based on his ideas, not the color of his skin. a revolutionary breakthrough. [applause] here we are in 2016. roomevery person in this
knows, our republican friends don't know, this country wayomically has come a long under president obama and vice president biden in the last seven years. [applause] on our't be too hard republican friends. suffer from a serious illness called amnesia. they can't remember where we were seven years ago when we monthosing 800,000 jobs a . we were running up a record-breaking deficit of $1.4 trillion. when by the way, the world's financial system was on the
verge of collapse. other than that we were in good shape when bush left office. we have come a long way in seven years and we should be proud of the accomplishments of the obama and biden administration. [applause] but, we have got to be honest, and acknowledge we still have a long way to go to create the nation that i know all of us believe we can create. [applause] i have been all over this country talking literally to hundreds of thousands of people. nobody i know thinks that it is
acceptable, that it is moral, think that it is sustainable that in the united states of america we have more income and wealth inequality than any other major country on earth, that it is worth -- worse here here today then 1928. that is not acceptable. it is not acceptable to me the owns almost as much wealth as the bottom 90%. it is not acceptable the 20 wealthiest people in this country own more wealth than the million americans. it is not acceptable that one owns more wealth than the bottom 40% of the american people.
when we talk about the economy -- it's not just well. it is income. , we have many people, millions throughout our country working not one job but to jobs and three jobs trying to cobble together the income they need and some health care. despite the hard work of the american people, and we of the hardest working people of any in the industrialized world. we work the longest hours. 58% of all new income generated today goes to top 1%. my friends, this is not an american economy. it is not a fair economy. economy anded together we are going to change that. [applause]
it's not only a rigged economy where the people on top are doing phenomenally well while the middle class continues to disappear and 47 million americans live in poverty. what you have accompanying the rigged economy is a corrupt campaign finance system that has undermined american democracy. [applause] wish i could give you a gentler word, a less harsh word but the word is corrupt. the word is correct because what we are seeing today is wall street and billionaires spending unlimited sums of money in super
pac's, attempting to elect candidates who will represent their interests. let me tell you as straightforwardly as i can. i am proud that i am the only amid credit candidate running for president who does not have a super pac. [applause] two.r our campaign has received, i never would have believed this receivedsible, we have 3.5 million individual contribution. averaging $27 apiece. [applause]
this is a campaign, to paraphrase abraham lincoln, of the people, by the people, for the people. [applause] let me tell you something else. if anybody here does not understand the direct connection between a corrupt campaign finance system and the major issues facing our country, and what congress does or does not do does not understand anything about contemporary american politics. let me be as straightforward as i can and tell you one of the first major priorities of the sanders administration will be to overturn this disastrous citizens united supreme court decision. [applause]
our campaign talks about the need to reform a corrupt campaign finance system. we talk about the need to end a rigged economy and create an economy that works for all of us, not just the 1%. we talk about a broken criminal justice system, a criminal justice system in which we have more people in jail than any other country on earth, largely black and latino. and native americans. [applause] let me tell you briefly a story, the kind of encapsulates
everything we talk about in this campaign. what a rigged economy and corrupt campaign finance system is about. some may have read in the last few weeks large wall street financial institutions like goldman sachs have reached a settlement with united states government. it was for $5 billion. other banks have reached larger settlements with the government. the reason they are reaching the settlements is because they were selling subprime mortgage packages to investors and the american people that were worthless. they reached a $5 billion agreement with the u.s. government. to a significant degree the business model of wall street
happens to be fraud. we talk about political power in america, where the average american says why should i vote? vote. one wall street is spending this money. .o one hears my pain no one is concerned about my life. don't ask me to vote. i will tell you one of the things that angers the american people is that today some kid in minnesota will get picked up for possessing marijuana, he or she will get a police record which will stay with them for the rest of their lives. , whoseves on wall street greed and recklessness and illegal behavior ended up
driving millions of people out , not one of those executives on wall street will have a police record. that is not what criminal justice is supposed to be about. [applause] a sanders administration will bring back justice to a criminal justice system whether you are rich or poor. you will get equal treatment under the law. when we talk about the issues facing the american people, when we understand why it is people are working so many hours for
such low wages, it should be clear we have got to raise the minimum wage to a living wage, $15 an hour. [applause] when we talk about equitable rages -- wages, i hope every man in this room will stand with the women in the fight for pay equity for women workers. i know i will not shock any person in this room by telling you every now and then, once in -- bit ofere is a big hypocrisy in politics. i know you are shocked, dismayed
to hear this, but it is true. let me give you an example. they say we hate the government. government is the worst thing. it is terrible. we're going to get the government out of your life. we will do away with the epa. we will cut nutrition programs. government stinks. we are going to get it out of your life. -- except when it comes to a woman's right to choose. [applause] in that case, my republican colleagues love state and federal government, and want the government to make that decision -- everyone men in minnesota
every woman in minnesota and america. i will do everything in my power to beat back those attacks on a woman's right to choose. [applause] when republicans talk about family values, what they are also saying is that every gay person in this country should not have the right to get married -- i disagree. [applause] we live as everybody here knows in a highly competitive, global economy.
150 years ago workers in this country achieved a huge breakthrough. what they managed to accomplish which we take for granted is public education. they said we don't want our kids to be working in factories were on farms. we want them like the rich kids to be able to get a decent education. they fought and succeeded in creating great public schools all over america. 2016 and in myr view it is time to rethink public education. respects and in many college degree today is the equivalent of a high school degree 50 years ago.
[applause] whenis why i believe that we talk about public education we should demand that every public college and university in america be tuition free. [applause] the other part of that equation, this is quite unbelievable, if you are prepared to think outside of the box, all over you havetry, i'm sure people dealing with incredibly oppressive loads of student debt. i'm talking about people paying $100,000, $400,000 of student debt which they will be
paying off for decades. i keep running into families where mom is not only paying off her daughters student debt, she's paying off her own student debt of 20 years ago. in america we should not be punishing people for the crime of trying to get an education. we should be rewarding people, encouraging people to get that education. that is what i believe we should allow people with student debt to refinance their loans at the lowest possible interest rate they can find. [applause] some of my opponents, and some corporate media says you are giving out all this free stuff. you are santa claus.
how are you going to pay for it? you have to pay for it. i will tell you how we are going to pay for it. free tuition and lowering student debt. we will impose a tax on wall street speculation. [applause] crashed, and it was there in the senate, wall street went begging to the american people and the u.s. congress, bail us out. congress did. now it is wall street's turn to help the middle class of this country. [applause] about a corrupt campaign finance system there
are many examples that i could give you about how campaign-finance impacts public policy. would be to easiest deal with climate change. i'm a member of the senate environmental committee. i've talked to scientists all over the world. the debate is over, climate change is real, it is caused by human activity, and it is causing devastating problems in our country and around the world. [applause] would leave --i lead this country, working with countries all over the world to take on the fossil fuel
industry, to transform our energy system away from fossil fuel to energy-efficient the and sustainable energy. point i want to make. how does it happen? i'm being as deadly serious as i can. entires it happen if the scientific community agrees climate change is real and it is causing devastating problems, and will only get much worse in years to come? how does it happen we have a republican party which almost unanimously rejects science? how does it happen not one republican in a debate or in any other format will say what everybody knows to be true. and we change is real
have to transform our energy system to save this planet from future generations. how does that happen? not one republican candidate will say that? on the day that republican candidate says it, he will lose his campaign funding from the koch brothers, from exxon mobil, and the fossil fuel industry. that is what a corrupt campaign is doing in this country. view, we judge a nation -- and i know paul said it better than i -- we judge a nation not by a number of millionaires and billionaires we have, but by how we treat the most vulnerable
people in our country. people who cannot defend themselves. that is a sign of a great country. [applause] nobody in this room should be proud of the fact that we have the highest rate of childhood poverty of almost any major country on earth. acceptshould be proud or millions of seniors and disabled onerans are trying to get by $11,000 a year. that is not what america should be about. believe we must lift the cap on taxable income coming into the social security trust fund. and expand social security
benefits. [applause] legislation i introduced would raise taxable taxes for more. earning $250,000 or and expand and extend social security for another 58 years and expand it such that seniors now living on less than $16,000 will get $1300 more. for is the least we can do the people who helped build our country and raise us. my friends, my vision for america, my ideas are just too radical. they are not radical. the only thing that is radical
is the fact that the insurance companies and the drug companies , and the fossil fuel industry, and wall street, and the military-industrial complex are standing in opposition to what we have to accomplish. it is not a question of what we should be doing. i believe, i have always believed my entire adult life, health care is a right of all people, not a privilege. [applause] i'm on the committee that wrote the affordable care act. we made real progress but we can do better. the issue in front of us is not what we know we should do. there is widespread agreement on that.
it is whether or not we have the courage to stand up to the billionaire class, to stand up to wall street, to stand up to , and all ofpanies those people today exercising in norman's power at the expense of ordinary americans. what the political revolution is yes, is the belief that when we stand together, we know mp's ofot allow the tru the world to divide us, there is nothing we cannot accomplish. i ask you to join the political revolution. thank you very much. [applause]
[applause] quite she is the best qualified person for this moment in history. i studied all my predecessors. the average person is intelligent, hard-working and tries to do with they want to do when they get there. there is a big difference in who can do and who can't. she is the single best change maker of ever met in my life. we need a change maker. not a change talker. a change maker. a court said our schools were
not properly finance. we were going to have to reallocate money. i put hillary in charge. she went to every county in the state. she presented it to the legislature. the head of the education committee said it was so good he thought maybe we had elected the wrong member of our family. [laughter] there is something to be said to that. nine years later i come to iowa running for president telling you the most improved school systems or in arkansas and south carolina. she did that. she had never been to elected to anything. she went to south carolina to see why these african-american teenagers were being jailed as adults. old being kepts in adult prisons. they changed that. she had not been elected to anything but she was making change.
that is just the beginning. policy. the country needs someone who can get something done. been so worried. we had six of the 24 worst counties in america. they are not able to learn. there is no preschool. i found a preschool program in israel that teaches people to be their children's first teachers even if they were illiterate. i think it will work here. in 10id it will be here days and we are going to start this program. here is what happened. i know i'm going to these graduations for preschoolers. it is in 26 states. it is still thriving. there are thousands in this country today who have better lives and learn more just
because of her. they have no clue. she didn't care. she had been elected to anything. she made something good happen. you are entitled to give these , but everything i have told you i believe with all my heart. she is the best person to win the election. the vast -- the best person to implement the changes we need. the best person to improve the gains we have made under president obama. mostly i want you to do what is best for you. most people have more tomorrow than yesterday. you will have more yesterdays than tomorrow spend time thinking about the future. hillary is a gift that will keep on giving. she made everything she ever touched better. thank you very much. [applause]
>> ladies and gentlemen, please welcome to the stage democratic presidential candidate secretary hillary clinton. ♪ >> this is my fight song my powers turned out ♪ ms. clinton: hello minnesota. [applause] it is wonderful to be here, reunited with so many friends, a state with such a long proud tradition. so many minnesotans have inspired us with principled leadership. want her montell.
millstone. i had the great honor of serving with paul and sheila, spending a lot of time on the floor of the senate talking with him about what we wanted to see happen to improve the lives of the people we represented, and i thought a lot about him in the last month. he was a true progressive who wanted to get things done. he wanted to make progress. i miss him, and i think you -- i thank you for sending him to serve. adding to that list there are many of you here tonight, someone else i served with, spent a lot of time sitting in the back row, first-term senator's as your governor, mark davies.
[applause] there's a lot to be said about mark. effective he has been. how he has stood against the tide of tea party republicanism. has the highest job growth record in the united states. knowing mark, that is not enough. on what can focus be done to create more jobs and places that are not seeing that kind of economic growth. determined he is going to make progress everywhere in your state. i want to thank his terrific lieutenant governor. [applause] i want to thank my two friends and former colleagues, your
senators, amy clover shar and al franken. you know what treasures they are. you get to see them all the time. they are actually working their hearts out, stumping across the country from me. everywhere they go people are blown away. they want to know more about them. they want to know what they can progressive senators like them. friendsout our great and even better public servants. to chris colman and betsy hodges, the members of congress representing you, the city officials who pour your heart's into serving the people of minnesota and our country, i thank you. at ane come together
important moment. when i started this campaign last april, i knew we were facing challenges as a country. talking to families across america has made it even clearer to me. appalling to encounter the indifference and neglect that i saw firsthand when i went to flint last sunday. those children and their families have been poisoned with lead in their water because their governor wanted to save money. boos] when i hear about the man in nevada taking care of other
people's loved ones for 40 years, and she has never earned enough to put away even one penny for her own retirement, there is something wrong. it is wrong that the cashier i met in new hampshire is paid less than her son for doing the same job at the same company where she is actually works longer. i will tell you what else is wrong. it is wrong american companies play legal tricks to sell themselves on paper to companies overseas to avoid paying their fair share of taxes at home. example ofregious that is a company from wisconsin called johnson controls. johnson controls makes auto
parts. inn the economy crashed 2008, they along with the auto companies came to washington asking for help. fact, they went from office 's responserepublican was let the auto industry died. take millions of jobs in those communities and let them just die. president obama and the democrats in congress listens, constructed a program to help provide financial support to the companies and suppliers. it works so well that those companies paid back the u.s. treasury ahead of time.
what has happened in the last month? announced andl they are turning their back on america. they are pretending to sell themselves to a company in europe. they are pretending to move headquarters. they are moving their profits to ireland. taxeser to avoid paying to the government and the people that helped them in their time of need and cap their company going. --t is called an ad version a version in the tax law. i call it a perversion and we are going to shut down those abuses when i get into office. [applause] wonder people are a great they have every reason to be. they are also hungry.
they are hungry for solutions they can count on. we have heard a lot about washington and wall street in this campaign. i want to get unaccountable money out of politics, as much as anyone, probably more than most. a little known fact, citizens united was about a right-wing attack on me. one of many over the years to try to undermine and push back the views and values i have a spouse. on the first day of my campaign i said we are going to overturn citizens united. we will use the supreme court appointments, and i will lead a constitutional amendment to get
control back over the financing of political campaigns. i have also made it clear we can't let wall street threaten mainstreet again. no executive too powerful to jail. we have the authority to do that. obama, youresident senators and others, the toughest regulations on wall street since the 1930's were passed in the dodd frank hill, that gives the government the authority to go after any bank that poses a systemic risk. that is available. it has to be used if
appropriate. i will use it. i want you to understand this. toer we get anything we can get control over the financial industry, get control again over campaign finance, we can't stop there. growing, andt job incomes rising. to many americans can't find a good paying job no matter how hard they try. people haven't had a raise in 15-16 years. create jobsssion to in clean energy and infrastructure. we need a deal with high college costs and student debt. youngre holding so many people back from starting their lives. we need to create more jobs for
young people because being out of work at the start of your career can have lifelong repercussions. , and southay carolina i shared my plan to unemployed6,000 people in minnesota and across , because it is not enough to be against things. that is important. we are the nation that gets things done, that charts the future, that makes a difference in the lives of the people of this country. we need an agenda to unleash the innovation of our entrepreneurs and small businesses. tackle the economy. we have to tackle the barriers
that stand in the way of people getting ahead. barriers holding americans back. families whocan generationmination after generation. they have a fraction of the wealth of white families. they get denied a mortgage three .imes as often they face other challenges in health and education. that is a barrier. that is a barrier that stands in the way of their dreams and aspirations. having $11,000 of wealth is an
indictment. but also a reflection. of the deeply entrenched discrimination that is faced. prices of so many young black people dying after encounters with police like clark shot and killed a few months ago not far from where we sit tonight. familiesut immigrant lying awake at night listening for a knock on the door in the night it states of america. shadows, in the vulnerable to unscrupulous employers. think of the women in our country still fighting for equal pay, still struggling to get
access to reproductive care while americans go after planned parenthood again and again. think of the new parents struggling to take care of that newborn baby, maybe a sick , when their job doesn't offer paid leave. i want to applaud governor for paidr his proposal parental leave here in this state. do.s the right thing to we have to do it across our nation. schools, and low income communities like the one i visited in south carolina today. callede part of what is the corridor of shame. schools5, crumbling and decrepit.
they don't have the resources, the teachers to help young people get the best possible education. by the letters asking signed last week the white house to allocate more funds for schools that educate native american kids right here in minnesota. [applause] if i am fortunate as to become your president i will be your ,artner every single day working with you to serve all of minnesota's children. all of us know, don't we? don't we know we need real solutions to the challenges we face? i'm running to tear down all the
barriers that hold people back across our country. i am not making promises i can't keep. every once in a while -- [applause] we makemes along where something big and extraordinary happen all at once. experience, that is not how we make change most of the time. to make change happen over and over again, you have to keep working at it. you have to keep fighting for it day after day. if you get knocked down, you get back up. back in the early 1990's, i was working day and night to pass universal health care.
we faced a lot of the same obstacles and criticisms. they went right at me. we didn't get what we wanted. down, andre knocked we were set back. by then i had traveled across america. countless americans who had been denied health care coverage. they didn't have enough money. they had a pre-existing condition. they hit a lifetime limit. i remember being in the children's hospital in cleveland talking to a group of parents
with very sick children. they were telling me what it was needed have a child that a lot of medical care. and not be able to guarantee they could have that provided. one father said i'm a successful businessman. i actually run a business. i provide health care to my employees. care for morealth to dollar -- for my two with cystic fibrosis. i go from insurance company to insurance company. i say i can pay something. give me what i can pay for. the answer is always the same, no. what do they tell you? last meeting i had,
i was talking to the agent making the same case i've made so many times before. he looked at me and said you don't understand. we don't ensure burning houses. this man looked at me with tears in his eyes and said they called my little girls burning houses. i couldn't get that and other stories out of my mind. when we didn't get everything we wanted, when we got knocked down, i said we have to figure out how we make progress as much as possible. i got to work with democrats and republicans to find common ground, to provide health care's most vulnerable among us, our children. we were able to pass the children's health insurance program which now is a lifeline
for 8 million kids across america. [applause] up on the dream of universal health care, not for a second. an 8 million kids, it was in everything we wanted. .ut it was real it was achievable. difference.ofound i could not bear the thought that we would leave children without health care, even a single day longer than we had to. whenis why i was thrilled president obama passed and signed into law the affordable care act. that has been a goal of the democratic party since harry truman. [applause] it is helping so many people
right now. we have 90% coverage. 10% short of universal coverage. because ofials pre-existing conditions. young people up to the age of 26 years old can be on their parents policy. women no longer pay more for our insurance than men. and no more lifetime limits. [applause] yes, i'm going to defend it. i know how hard it was to accomplish. i want to improve it. down. costs get to 100% coverage. and do everything i can to rein byprescription drug costs going at the drug companies requiring them to negotiate for lower prices with medicare, and going after predatory pricing,
which we have seen in the last increasesult in price of 4-5000% overnight. learned from my family and my good to try to do all the you can, as long as you can, for as many people as you can. , or you see people hurting being treated unjustly, and you think you can help them, maybe make their lives better, you have got to do it. someonely when you are who has had blessings. ,ho yes, has been knocked down but able to get back up. that is why i say with all my heart i am going to build on the affordable kit care act -- care
act. we are not going to plunge this country into some national debate. we are going to take on the drug companies. we are going to take on the costs. we are going to finally achieve universal coverage. we are going to do all of that. [applause] with families depend on us doing that. not as the path forward, divisive debate. it is about the shape of what could be done, a whole system that will stop us in our tracks, create gridlock, and not move us forward. here is my promise to all of you. , will work harder than anyone actually, to make changes that improve lives.
together we will build on the progress we have made under president obama, to break all the barriers that hold americans back. i was honored after running a hard campaign against senator to serve asasked his secretary of state. , therustee placed in me opportunity that we had to work on behalf of our foreign policy and national security, it was an enormous privilege. i had a front row seat in watching him do what needed to be done, responding to the financial crisis. i don't think he gets the credit he deserves for saving our economy from the horrible ditch the republicans drove us into in 2008. [applause]
i think he has shown great presidential leadership in dealing with the opposition of the right-wing and the republicans of the tea party. [applause] i think millions of americans are better off because of his presidency. i will build on the progress he has made because i am a progressive who actually likes to make progress. [applause] you know, those of us who are older you s know the get, funny enough, the more you the future.ng about o imagine tomorrow where hard work is honored and rewarded
we rising incomes, where produce enough renewable energy to power every home in america millions of good jobs doing it. lifts you up and soon a debt doesn't drag you down. where more entrepreneurs can start and grow new small businesses. imagine a tomorrow where every matter knows that, no what their race or religion or exual orientation or gender identity, they'll have an equal shot at achieving their dreams is their country too. imagine a tomorrow where gun longer stalks our country and elected officials the gun lobby, not get intimidated.
americaa tomorrow where is safe at home and strong in the world. that's the tomorrow we want. our children and our grandchildren and for our country. go to caucus on hope you will ask yourself, "who can you count on every barrier, not just some?" and think about this. think about this as you go. yes, wall street and big financial interests along with companies, insurance companies, big oil all have too i will fight and every single day to even the odds. to get if we were able id of all of that undue influence tomorrow, we would
till have the cruel negligence we saw in flint. of ould still have the kind anti-muslim demagoguery that we have seen in this campaign and which must end. we would still have so many forms in we would still have powerful climate change, opposing every single common reform.un safety still have republic republic idealogues ripping the heart out of work ears the right to organize, to and the up, to be part of a union for better wages and working conditions. [ applause ] my friends, i am not a single-issue candidate and this is not a