be enacted require all of the following, entitlement reform, tax revenue increases, growth incentives, orderly reductions in defense expenditures and budget process reform. it was, of course, a perfectly reasonable assessment of the situation, but it also required breaking a campaign promise, and not just any campaign promise, the most clear, absolute and memorable campaign promise of the decade, read my lips, no new taxes. the new tax package that president bush signed into law just five months later included an increase in the top tax bracket from 28% to 31%. it increased the gas tax by a nickel and the tax on a six-pack of beer by 16 cents.
taxes will be necessary to get the federal budget deficit under control. on this day in tax history, june 26th, 24 years ago, president bush issued this statement that rocked the and as you ve just seen, led the nightly news. it is clear to me that both the size of the deficit problem and the need for a package that can be enacted require all of the following, entitlement reform, tax revenue increases, growth incentives, orderly reductions in defense expenditures and budget process reform. it was, of course, a perfectly reasonable assessment of the situation, but it also required breaking a campaign promise, and not just any campaign promise, the most clear, absolute and memorable campaign promise of the decade, read my lips, no new taxes. the new tax package that
spending cuts to pay for the doc fix. they asked for unemployment extension and they asked for nothing to pay for it which would have blown a hole in our deficit. a 13th extension of this emergency unemployment extension from the twee crisis from the 2008 crisis, we have evidence showing it would prolong unemployment. we want jobs. we want pro growth policies that help create jobs so we don t have people going on unemployment in the first place. one of the things we think it will accomplish by providing the government shutdowns is you can get the economy growing again. our focus is on job creation and not the extension of an emergency benefit hat was started in 2008. 30 seconds left. you and patty murray sat down and arrived at this deal, but it is no grand bargain. you come away in 30 seconds thinking a grand bargain is impossible or it is on basic principals, tax revenue
package with pay force meaning spending cuts to pay for the doc fix. they asked for unemployment extension and they asked for nothing to pay for it which would have blown a hole in our deficit. a 13th extension of this emergency unemployment extension from the twee crisis from the 2008 crisis, we have evidence showing it would prolong unemployment. we want jobs. we want pro growth policies that help create jobs so we don t have people going on unemployment in the first place. one of the things we think it will accomplish by providing the government shutdowns is you can get the economy growing again. our focus is on job creation and not the extension of an emergency benefit hat was started in 2008. 30 seconds left. you and patty murray sat down and arrived at this deal, but it is no grand bargain. you come away in 30 seconds thinking a grand bargain is impossible or it is on basic principals, tax revenue
but to get out of the sequester they would have to agree to some degree of tax revenue increases and give up some of their tax cuts for the wealthy. right. and as you know, as we ve seen now, when it comes to this calculation, the republicans are generally saying, you know, pentagon cuts, you know, taxes for the rich, we ll go with pentagon cuts. because we don t care about head start, meals on wheels, public defenders. you know, federal parks and all that. we never cared to cared about that in the beginning. so this is where the president thought he was trying to hit them with a hammer, and they re saying we ll take that hit if we still don t have to deal with you and taxes. when you look at the fact, krystal, i mean, let s look at the effects of the budget cut. 600,000 women and children lose nutrition aid. 125,000 families lose housing aid. 70,000 kids lose head start. 25,000 fewer cancer screenings.