[Congressional Record (Bound Edition), Volume 159 (2013), Part 3]
[House]
[Page 3411]
[From the U.S. Government Publishing Office, www.gpo.gov]




               ``RYANOMICS''--THE HOUSE REPUBLICAN BUDGET

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
Georgia (Mr. Johnson) for 5 minutes.
  Mr. JOHNSON of Georgia. Mr. Speaker, ``Ryanomics,'' the House 
Republican budget, the so-called path to prosperity, is based upon a 
fanciful theory of trickle-down economics. This is a well-worn idea 
that belies the facts that we've seen proven time and time again.
  That truth is that giving tax breaks and hollowing out the Tax Code 
with loopholes for the wealthy, while cutting spending for the social 
safety net and the poor, while cutting everything else that makes 
America great, that somehow this is going to create prosperity for all. 
Indeed, the Republicans have played from this same playbook before, and 
it has failed.

                              {time}  1020

  It has failed again, and it continues to fail. This was an economic 
theory first proposed by the American hero, Ronald Reagan. They called 
it Reaganomics. Trickle-down economics is what they liked to say: it 
would trickle down to the poor. George Herbert Walker Bush called it 
``voodoo economics.'' I think he was right on with that because in 
practicing voodoo, they just ask you to believe. And that's what 
Ryanomics is proposing for us to do. The numbers just don't add up.
  Today, we only have to look at Europe to see the terrible effects of 
severe austerity. The Republican prescription of cut, cut, cut has been 
tried, tried, tried repeatedly across Europe and has only exacerbated 
the problems over there. Now, under the guise of balancing the budget 
in 10 years, we've got Ryanomics II, or Turbo Ryanomics. They're going 
to take $15 trillion and balance the budget in 10 years, doubling down 
on a theory that Americans rejected just last year. Four or 5 months 
ago, we rejected Ryanomics; but here we have Ryanomics II, or Turbo 
Ryanomics.
  Mr. Speaker, I'm not here to solely criticize the path that 
Republicans have charted for this House with their budget priorities. 
In fact, I agree with them that Congress must make difficult choices 
about future spending. The problem is that all too often this body asks 
very little of the rich and the powerful, handing out tax breaks for 
millionaires and billionaires like candy, doing this at the expense of 
the middle class and the poor. You have seen the income disparity 
between the top 2 percent and the middle class. The gap continues to 
widen.
  Shared sacrifice should truly be that. It should be something that 
all Americans share in. Why does Congress continue to give tax breaks 
to big corporations that outsource jobs but fail to invest in education 
and scientific research that would help the American economy by 
creating jobs and reducing unemployment? Why would they continue to 
give tax breaks to those who don't need them, rather than educating the 
next generation of workers so that this country can continue to compete 
and be at the top of the global economy?
  Despite the fact that trickle-down economics has been roundly 
criticized and discredited, my colleagues across the aisle choose to 
double down on what hasn't worked, and they want to continue to 
relentlessly cut, cut, cut the programs and the services that Americans 
depend on every day and which help drive our economy. I believe we must 
reduce our debt--and we must do that in a responsible and sensible way 
that slows spending over time. We can no longer leave working Americans 
behind while we allow the wealthy to walk away with the largest share 
of national prosperity.
  Mr. Speaker, I urge my colleagues to support the CPC, the CBC, and 
the Democratic budgets that keep our promises and invest in what works 
to grow the middle class.

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