Sen. Carper On Fiscal Cliff Deal - 47 ABC - Delmarva's Choice

Sen. Carper On Fiscal Cliff Deal

Posted: Updated:

WMDT 47 NEWS - As the House looks over and votes on the fiscal cliff bill, Senator Tom Carper (D-DE) isn't too thrilled about last night's vote in the Senate.

He sent over the statement below:

"Following our failure to craft a comprehensive deficit reduction plan in 2011, Congress put in place a set of tax increases and spending cuts in discretionary programs that, if enacted, would be painful and potentially damaging to our economy," said Sen. Carper, a member of the Senate Finance Committee. 

"The purpose of this so-called 'fiscal cliff' was to force our hand to come up with a grand bargain to get our nation's fiscal house in order and make the tough decisions that we, as legislators, are expected to make.   

"Unfortunately, the deal the Senate passed this morning is not the grand bargain that I, and many of us, had hoped for, and that's why I ultimately voted against it.   While I commend the work of Vice President Biden and others in finding a way for us to avoid some of the bad elements of the fiscal cliff, there was a better way to solve this problem and we should've seized the opportunity to do so.   

"We've known for some time that there were two principle elements to any genuine budget plan.  One, we had to reform entitlements in order to preserve programs like Medicare, Medicaid and Social Security for future generations.  And, two, we had to significantly increase federal revenues.  Over the last dozen years, they have dropped from roughly 20 percent of GDP, when we had four balanced budgets in a row, to less than 16 percent of GDP today.

"In this deal, we did neither.   When push came to shove, we walked away from entitlement and meaningful tax reform, at least for now.  Rahm Emanuel, former chief of staff to President Obama, is fond of saying, 'Never waste a good crisis.'  I'm afraid that we've just wasted a doozie at a time when our President's bargaining power was at its zenith. 

"Instead of clearly demonstrating to American businesses that are sitting on enormous piles of cash that we can still govern, be fiscally responsible and provide certainty and predictability with respect to our tax code, we leave them saying, 'Not again.'  Why? Because two months from now, we face the prospect of yet another debt ceiling crisis and more turmoil that will discourage a lot of American businesses from investing their cash in hiring new employees that will help our economy grow. 

"The American people want us to do the right thing and not the politically expedient or easy thing.  Two times in the last 18 months, President Obama and Speaker Boehner have negotiated in an effort to reach a grand bargain that puts this country on a fiscally sustainable path.   Unfortunately, two times, Republicans have chosen not to back their Speaker because of their refusal to consider tax increases on anyone, including those who can most afford it. 

"My hope is that this intransigence will someday be overcome, and that the next time there's a serious effort to put together a budget deal, both sides will stay at the table and seize the opportunity to make the hard choices we know have to be made."

 

  • Local NewsDelmarva HeadlinesMore>>

  • Delaware Reports 1st Case Of Mosquito Virus

    Delaware Reports 1st Case Of Mosquito Virus

    Thursday, July 24 2014 11:41 PM EDT2014-07-25 03:41:20 GMT
    DOVER, Del. (AP) - Public health officials say Delaware has recorded its first case of a mosquito-borne virus that has been spreading in the U.S. from the Caribbean.More >>
    DOVER, Del. (AP) - Public health officials say Delaware has recorded its first case of a mosquito-borne virus that has been spreading in the U.S. from the Caribbean.More >>
  • Protect Your Home From Lightning Damage

    Protect Your Home From Lightning Damage

    Thursday, July 24 2014 11:20 PM EDT2014-07-25 03:20:41 GMT
    CAMBRIDGE, Md- With the recent storms, and the ever-present potential for more throughout the summer, lightning poses major threat to homes.More >>
    CAMBRIDGE, Md- With the recent storms, and the ever-present potential for more throughout the summer, lightning poses major threat to homes.More >>
  • Salisbury's Christian Shelter Gets A Facelift

    Salisbury's Christian Shelter Gets A Facelift

    Thursday, July 24 2014 11:09 PM EDT2014-07-25 03:09:19 GMT
    SALISBURY, Md- After rumors of a possible closure that would mean Salisbury's homeless population would have one less place to turn, the Christian Shelter is stepping forward saying they're not closing, but improvingMore >>
    SALISBURY, Md- After rumors of a possible closure that would mean Salisbury's homeless population would have one less place to turn, the Christian Shelter is stepping forward saying they're not closing, they're improving.More >>
  • ContestsMore>>

  • Skybox Giveaway - August 11

    Skybox Giveaway - August 11

    Win a SkyBox for you and 24 of your closest family and friends!More >>
    Win a SkyBox for you and 24 of your closest family and friends!
    More >>
  • Midway Speedway Giveaway

    Midway Speedway Giveaway

    Thursday, June 26 2014 7:57 AM EDT2014-06-26 11:57:18 GMT
    Enter to win a Midway Speedway Four Person Park Pass This includes all day at the waterpark, four choice tickets (good for any ride or attraction) and a round of fire mountain golf. Rules No purchaseMore >>
    Enter to win a Midway Speedway Four Person Park Pass This includes all day at the waterpark, four choice tickets (good for any ride or attraction) and a round of fire mountain golf. Rules No purchaseMore >>
Powered by WorldNow
Powered by WorldNow All content © Copyright 2000 - 2014 WorldNow and WMDT. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.