A percent of gdp during that time. They are hire in each of those years than they are today, is the rights because thats right, congressman. And their higher, are they not do, in each of those years than it will be as a percent of economy 10 years from . Yes, thats right. My calculation is that the average amount of revenue as a percent of gdp when the last balance the budget was 19 of gdp. During those four years the average amount of revenue was 90 of gdp. Now, you have just testified that the main reason that were going to see an increase in the deficit in the out years is because we have tens of millions more americans on programs like Social Security and medicare, right . Yes. Our republican colleagues position is that we can somehow deal with that huge increase in the number of americans on Social Security and medicare with less revenue as a percent of gdp in lebanon last balanced the budget in 19982001 women had a lot fewer americans. On Social Security and medicare. That is the
Programs that reduce the existence of poverty and the suffering associate with it. So i want to ask you, what policies are antipoverty initiatives tend to get the most bang for our buck in terms of boosting Economic Growth . For example, what is the impact of Economic Impact of not extending Unemployment Compensation for the 1. 7 Million People have lost their checks what theyre looking for a job . Will we see them fall into the ranks of the poor . Does raising the minimum wage boost Economic Growth and reduce poverty . Whats the impact on poverty and Economic Growth rate as a result of, unfortunately not, the impact of structural and longterm unemployed as we continue to recover from the recession and cant seem to get any jobs past. I would like for you to respond to this issues around poverty, given the sense of congress that was put into the omnibus bill. Yes, congresswoman. We have estimated that if the congress were to extend the additional Unemployment Insurance benefits that exp
Were very seriously damaged. And im wondering what the plans are to ensure that these women, especially the final three months of pregnant heat, get close to birth of their children, will there be an effort to ensure they are safe blood and be skilled birth attendant to the can save her life if she needs a csection or some other help to help mother and baby. I would not parenthetically that my daughterinlaw. My wife and i are grandparents have three grandchildren. Just in july, and a Princeton Hospital had an emergency csection, lost two liters plus a load and they had to send out for some of it because they didnt have her blood type. They had some, but not enough. In a ravaged area we visited them youve visited as well as the Health Clinics that are working, that could mean death to a woman were availability of safe blood could mean life. So if you could address that. Finally, the issue of best practices learned from the earthquake in haiti and the synonymy in the indian ocean. I was
With that being said, my question to you would be what benefits would we be reforming the book and tax code by lowering taxes and tax rates and broadening the tax base on the individual and corporate basis which is revenue neutral as i have indicated . Congressman, when he and other analysts think that sort of tax reform that could you have described could boost Economic Growth. But the metal into the first depends specifically on the tax reform that the congress would consider. And we are standing by to do an Economic Analysis that approaches the tax reform. If you and others on the committee would be interested. If you do these things, im convinced if you put more people than the job market, more taxpayers and more cash flow, it works. We talked a lot about the minimum wage today off and on. My question to be for someone that owns a business, we have raised the minimum wage. How do i pay for that . Congressman cohen as i mentioned in the earlier question we are currently doing the an
,000 in lifetime medicare taxes. Yet receives 250,000 in benefits. So is of taxes for 3 of benefits. Thats how medicare works. Thats for the typical family in ohio ar on the on or around the. When you multiply this, you can see why we have a totally unsustainable program because not enough money goes in to pay for the benefits coming out. Providing 3 in benefits under medicare fo for every 1 paid fr lowincome seniors is one thing. We want to make sure theyre taken care of. For the most part in their working years, those folks probably didnt earn enough to pay large medicare taxes and the program is designed to ensure that they do receive the medical coverage they would not otherwise get. But should upperincome seniors, seniors who are on medicare, receive benefits that far exceed what they pay into the system . Thats what happens now. Is that fair . I dont think so when the program is going bankrupt, when our kids and grandkids are facing massive tax increases to pay for a problem that