OC Political

This came across  the wire recently from the office of Congressman John Campbell:

Rep. Campbell: No More Political Gimmicks, Let’s Fix the Deficit Problem 

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Offering remarks during debate on the House Republican Budget resolution, Congressman John Campbell (R-CA) argues that the U.S. can avoid repeating Europe’s mistakes if Congress is willing to work on a bipartisan basis to develop a fiscally sound budget proposal and reject untenable proposals of a purely political nature. 

Highlighting the “Buffett Rule” as an example of a baseless plan that is counterproductive to fixing America’s deficit problem, he explains that its implementation will leave 99.75% of the existing deficit left untouched. Acknowledging that only true bipartisan compromise on a sustainable budget plan will solve the problem, Campbell asks for debate on real ideas and sound proposals free of divisiveness. “Let’s come up with something that solves the problem. Then, let’s have that debate,” suggests Campbell. “To act like you can raise spending and only ‘tax the rich’ and nothing else is just flat wrong and just flat misleading.”

Rep Campbell: “The Buffett rule, which is mentioned in here, is one of several things, I understand, that raises [revenue]. I believe the estimate I saw yesterday was $31 billion over 11 years. That means it’s roughly $3 billion a year. If we have a $1.2 trillion deficit, which we do, it is a quarter of a percent of the existing deficit. We could put the Buffett rule in effect tomorrow and you have 99.75% of the deficit left to deal with. Okay, this is a political argument. This is not a genuine deficit argument.”

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