That we eventually want to operate with a much smaller Balance Sheet than we have at present. The, that we would reduce the size of the Balance Sheet to essentially, whatever size we needed to manage Monetary Policy effective in, in effective and efficient way. Now a lot has changed since prefinancial crisis in terms of the Financial System and, we are studying, were engaging in project at this time. To consider whether a longrun operating framework should look like. So, i cant tell you exactly what size of Balance Sheet we will determine is the best to operate in an efficient and effective manner. It might be somewhat larger than the very tiny quantity of reserves that we had precrisis. We have not determined that. We have also said that we will, we expect to reduce the size of our Balance Sheet overtime by ceasing diminishing, ceasing entirely reinvestments and beyond that we havent given Additional Guidance other than to say the timing of reductions in reinvestment will depend on ec
A partyline basis. And now, my friends, they sowed the wind and are now reaping the whirlwind. So we need to repeal the Affordable Care act and we need to replace it. Because health care in america is still not satisfactory, nor have we fulfilled the needs and our obligations that we have to all of our citizens. The problems with the Affordable Care act are well known. A failed web site rollout that has hindered enrollment and the purchase of mandated coverage. As of december 17 only an estimated 440,000 835 people have ben enrolled for a health plan. Thats 6. 2 of the enrollment goal of seven million by march 31, 2014. Theres a destruct jiff tax on medical devices that encourages these businesses to move offshore. We have already seen medical Device Manufacturers leaving the United States of america, as they said they would if they were taxed to the point where they could not be competitive with medical devices that were manufactured in foreign countries. The disappointment for americ
We will put both our economy and our National Security at risk. That is why we wrote this budget because we owe to the country to lay out an alternative. We believe every person deserves a fair shot at a Brighter Future everyone deserves an america that works. We owed the American People a responsible balanced budget is a balanced budget will expand opportunity by creating jobs and by supporting our military it will help keep our country safe. The president s budget, it never balances, ever. Our budget on the other hand balances in 10 years and it puts us on the path to paying off our debts so that our children and grandchildren inherit a debtfree future. How do we do it . Verse 1 we stopped spending money we dont have. We cut waste and make muchneeded reforms to save 5. 1 trillion over the next 10 years. Our critics may call this deep but look at it this way. On the current path the federal government will spend roughly 48 trillion over the next 10 years. By contrast this budget will
Thats reality. The republican plan turns medicare into a Voucher Program that would end medicare as we know it. [inaudible] i think it is important for us to go back and talk to 30 seconds about what happened when we were here. We had a balanced economic plan in the clinton administration. We have all of these problems, catastrophes on the way, budgets are going out of balance, we have to fix them immediately. Not one member from the Majority Party has the courage to ask the wealthiest in the country for any contribution at all. We have this huge catastrophe. No one has the guts to ask them to pay a little bit more. The people making hundreds of millions of dollars a year. That does not make any sense we could take some of that money and soft in some of the blows soften some of the blows. We are going to roll back health care. We will ask College Students to pay for their loans while they are in school . What if we ask these wealthy for a little bit more money. Raising rates for averag