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if you don t mind, i m going to spend a bit longer than usual on your introduction. you served as the head of the white house economic council in the obama administration, and the treasury secretary in the clinton administration, during the longest period of sustained economic growth in the united states history. and most importantly, you were the last treasury secretary to leave office with a federal budget surplus. and somewhere in the middle of all of that, you managed to serve as president of harvard university. i don t know which of these titles i should be using, there s no one whose analysis of this bill i value more than yours. let s begin with this pay raise. this $4,000 pay raise, that the president is promising because of a corporate tax cut. that s what his economic advisers seem to be telling him to say. it s a nonsense number.
longest period of sustained economic growth in the united states history. and most importantly, you were the last treasury secretary to leave office with a federal budget surplus. and somewhere in the middle of that, you managed to serve as president of harvard university and i don t know exactly which of these titles to use, mr. president, mr. secretary, professor, no one whose analysis of the bill i value more than yours and let s just begin with this pay raise, this $4,000 pay raise to possibly $9,000 pay raise that the president is promising because of a corporate tax cut and that s what his economic advisers seem to be telling him to say. it s a nonsense number. it s true that if you cut corporate taxes, you don t think at all about the deficits that they ll probably be some increased investment and some increase in wages. but to suggest that it s $4,000
administration and you served as the treasury secretary in the clinton administration in the longest period of sustained economic growth in the united states history. and most importantly, you were the last treasury secretary to leave office with a federal budget surplus. and somewhere in the middle of that, you managed to serve as president of harvard university and i don t know exactly which of these titles to use, mr. president, mr. secretary, professor, no one whose analysis of the bill i value more than yours and let s just begin with this pay raise, this $4,000 pay raise to possibly $9,000 pay raise that the president is promising because of a corporate tax cut and that s what his economic advisers seem to be telling him to say. it s a nonsense number. it s true that if you cut corporate taxes, you don t think at all about the deficits that
they get everything in the coastal states. outside nine miles, that belongs to the united states of america and all the people. i want to use that to reduce the federal budget deficit. you re leaving washington, senator, after years of service, but do you think in all your history, have you ever seen money that was targeted for deficit relief going to deficit relief? well, ten years ago, we had a federal budget surplus. so clearly some of that revenue must have been for deficit relief ten years ago. if we expect $40 billion from those royalties on the outer continental shelf which belongs to the american people, i don t want to reduce federal income by $40 billion to give that money to the gulf states. neil: but isn t that money i understand. isn t that the net positive that have money, would be if energy prices stabilize, they would
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