Nancy Pelosi Takes to House Floor to 'Set the Record Straight' on Fiscal Cliff

Democratic leader responds to Boehner, says Democrats "committed" to spending cuts.
3:00 | 12/11/12

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:



Skip to this video now

Now Playing:


Related Extras
Related Videos
Video Transcript
Transcript for Nancy Pelosi Takes to House Floor to 'Set the Record Straight' on Fiscal Cliff
What I would do to respond to what the speaker has said though is to set the record straight. The fact is that the president has and Democrats agree with him. Agree to over one half one half one point six trillion dollars in -- In the budget control act and other acts of congress and it's -- in this particular. Congress one point six trillion dollars in where the cuts. There in bills that you mr. speaker have voted for. Secondly on the issue of the entitlements. With the Affordable Care Act and with legislation in the president and suggestions. Provisions in the president's budget it amounts over one trillion dollars in savings. In Medicare over one trillion dollars in savings which had been redirected to prolonging life. -- Medicare making it stronger for nearly a decade. While increasing. Benefits. For seniors and those who depend amendment not reducing but increasing ban. There's been a massive misrepresentation. Of that what that is. So I want to set the record -- so in terms of spending cuts. We're on the record having voted for over one about one point six trillion dollars. In terms. Entitlement reform over a trillion dollars already and more savings to be. Gained in further discussions on the subject -- strong down payment. What is missing. A two elements that the president's put forth and his -- growth. Investments in infrastructure yes the president has called for investment in -- structure. To build infrastructure -- America and create jobs to grow our economy. And where are the residence. Where the rent. And be honest that the cuts. Changes in -- with more -- is demanded in terms of what seniors would have to today. -- into Medicare and at what age that would happen. While the Republicans refused. To touch one hair on the head of the wealthiest people in that country. Public overwhelmingly two to one supports the president's initiative. Four. Extending the middle income tax cuts whereby 100%. 100%. Of US taxpayers get a tax cut. About 250. -- people making more than 250000 dollars a year would be asked to pay a little more. To contribute to the fiscal soundness -- country. To pay -- bills. The defense of that country the support of our troops. The pillars of security for our seniors to education affect children. So and the safety of our neighborhoods this is just asking me a little bit more while they continue. To get the same tax cut that -- -- says -- 100% of the American public an attack that the upper 2%. Are asked to pay a little bit more. -- I thank the speaker for finally. At least uttering the words on the floor of house. About what is what the decisions that need to be -- Again we may we committed to the -- -- acted upon the entitlement the president has -- in his budget. All this would be. A down payment as we go forward into the next session of congress to talk about tax simplification. And parents. How we can perhaps lower rates tying up loopholes -- and having a tax code that is encourages growth and -- but that along. As we address the issue -- how we strengthen. Entitlements not -- that diminishing benefits. By getting more. We. It's Social Security. Any any changes in Social Security should be left to -- -- -- if its Medicare any changes should be there to strengthen Medicare. Not underwrite and subsidize tax cuts for the wealthiest people in the country. So again. Well -- the the speaker's statement that he wants to solve the problem. The president has put forth his budget which has his initiative -- He has said he's willing. Two. To make some changes but it's really important. That any changes not hurt the middle class. It comes right down to -- Again that's -- -- about the price the high end tax cut its about the money that it generous. You can find the money in other way at -- high end let's see what that discussion it but it is not. To burden to the middle income and -- have bigger tax cut. Hi. Those hi -- -- only increased the death. They have created jobs. It's simply unfair -- it doesn't work. So hopefully. The clock is -- with getting closer to the holidays and that means closer to the end of the year which is. Fraught with meaning in terms of time and the rest of this I don't think there's any reason for us not to come to the table. To make an agreement. To give confidence to consumers. In this holiday season to the market. And -- here. Decisions so that we will have that growth. The growth in jobs that produced revenue. That jobs. Approach is the way to reduce the create job to reduce the death. That the death. Well that the economy. And -- silent way. Possible. Investments to. For seniors and -- Economic security for then FM. It is not a time to inject even more uncertainty into the lives of the people and the economy -- that country and what that means globally. It simply isn't the time many of these ideas are bad at any time. But they're particularly. Harmful at this time so again I think the speaker for bringing issue finally to the floor of the House of Representatives. Looked forward how we can move quickly. Time is that the -- and every -- that we can remove all doubt about the full facing the united states of them. Investments in the future creation of jobs. And I. Respect and support. The list of economic and health -- seniors every day we can do but more quickly it is a good.

This transcript has been automatically generated and may not be 100% accurate.

{"id":17934608,"title":"Nancy Pelosi Takes to House Floor to 'Set the Record Straight' on Fiscal Cliff","duration":"3:00","description":"Democratic leader responds to Boehner, says Democrats \"committed\" to spending cuts.","url":"/Politics/video/nancy-pelosi-takes-house-floor-set-record-straight-17934608","section":"Politics","mediaType":"default"}