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Male voice 1:... bus service... Congressman Evans: I did... good thing I like Congressman Evans: chicken. Because if you're Congressman Evans: a politician in Delaware that

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Congressman Evans: don't like chicken, there is Congressman Evans: real problem... issues. Congressman Evans: And I'm proud of the record that I have with Congressman Evans: the American Farm Bureau and

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Congressman Evans: the Delaware Farm Bureau. Congressman Evans: I think it's one of Congressman Evans: the best records in the entire Northeast. Congressman Evans: And we're preaching to

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Congressman Evans: the choir on many areas. Male voice 3: Amen. Congressman Evans: But I do appreciate your being here. Congressman Evans: And I want you to know that I have two of, two of Congressman Evans: my staff members here and I see Joe and

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Congressman Evans: Bill have some of their staff members here, Congressman Evans: but Neil Lessick, my administrative Congressman Evans: assistant right over there from Richmond... Male voice 4: I don't think any fair

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Male voice 4: minded person would expect Male voice 4: our congressional delegation to vote Male voice 4: every time the way we want. Male voice 4: But I've done a little checking up.

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Male voice 4: And Congressman Evans has Male voice 4: voted on eighteen key votes, Male voice 4: he's voted with a 16 times Male voice 4: so I can't find any fault with him.

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Congressman Evans: Share your frustration and disappointment at our ability to get some things Congressman Evans: done here in Washington DC Congressman Evans: that should be done to Congressman Evans: avoid doing some of the things

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Congressman Evans: that we should not have done. Congressman Evans: And I hope that in 1980, Congressman Evans: we will get a Congress of Congressman Evans: the United States that begins to reflect

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Congressman Evans: concerns and the hopes Congressman Evans: of the vast majority of American citizens. Congressman Evans: Because it is at times Congressman Evans: frustrating and disappointing.

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Congressman Evans: But that doesn't mean you give up Congressman Evans: hope because you stay in there and you pitch. Congressman Evans: And that's one thing my dad always did, Jack, Congressman Evans: he never gave up on

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Congressman Evans: anything right up to the very end. Congressman Evans: In fact, he was not only Congressman Evans: interested as an engineer and Congressman Evans: engineering profession and he was on

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Congressman Evans: the school board as many of you Congressman Evans: knew him years ago in Seaford. Congressman Evans: But the two days before he died, Congressman Evans: in fact the day before he died,

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Congressman Evans: to show his interests, he developed Congressman Evans: a campaign strategy for me for 1980. Congressman Evans: And at 80 years old, Congressman Evans: that was remarkable. In fact,

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Congressman Evans: he had some darn good ideas Congressman Evans: and he made a lot of good common sense. Congressman Evans: And I think that's what we need Congressman Evans: more in Washington DC.

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Congressman Evans: A lot of good common sense for the future. Congressman Evans: Thank you all very much. Go ahead. Male voice 5: I would like to ask you a question Male voice 5: concerning the grain embargo.

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Male voice 5: Why would the administration embargo only Male voice 5: grain and a small amount of items and not make it Male voice 5: an overall embargo if Male voice 5: we're dealing in a national crisis

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Male voice 5: where the national security is Male voice 5: so much at stake? Congressman Evans: The national security is very much at stake, Congressman Evans: and I'm glad that a number in

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Congressman Evans: Washington have finally recognized Congressman Evans: the need to be strong. Congressman Evans: I think we've invited the type Congressman Evans: of response that we've received.

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Congressman Evans: In many ways, I certainly Congressman Evans: support the President and some of his moves. Congressman Evans: I wonder whether or not we would Congressman Evans: have Russian troops in

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Congressman Evans: Afghanistan today though, Congressman Evans: if he given the same State of the Union Congressman Evans: address that he gave in Congressman Evans: January of 1980 in 1979, 1978, 1977.

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Congressman Evans: I think as far as the grain embargo is Congressman Evans: concerned that we're cutting off Congressman Evans: our nose to spite our face. Congressman Evans: And I don't believe that American farmers,

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Congressman Evans: Delaware farmers, or citizens Congressman Evans: generally are unwilling to Congressman Evans: sacrifice and pull together as long Congressman Evans: as everyone is asked to do

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Congressman Evans: the same thing in an equitable way. Congressman Evans: But I don't think you can single Congressman Evans: out any one segment of Congressman Evans: our community and society and

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Congressman Evans: ask them to bear an unreasonable part, Congressman Evans: a disproportionate share of the burden. Congressman Evans: And as far as a grain embargo is concerned, Congressman Evans: I looked at two ways.

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Congressman Evans: First of all, does it impact, Congressman Evans: what does it do to impact in Russia? Congressman Evans: Does it really hurt them? Congressman Evans: And I've come to the conclusion

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Congressman Evans: that unless we have Congressman Evans: a universal embargo and we get Argentina and Congressman Evans: other nations that continue Congressman Evans: to supply grain to Russia,

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Congressman Evans: it doesn't have the impact that should. Congressman Evans: And then conversely, Congressman Evans: what impact does it have Congressman Evans: here in the United States?

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Congressman Evans: Certainly it hangs as a cloud Congressman Evans: over the price of grain. Congressman Evans: Having that grain in Congressman Evans: reserve. Certainly it costs money

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Congressman Evans: because it has to be subsidized. Congressman Evans: And thirdly, the balance of trade that we Congressman Evans: have as a nation is Congressman Evans: not in a positive position.

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Congressman Evans: And that does have an impact on inflation. Congressman Evans: We need to expand Congressman Evans: our export markets overseas, Congressman Evans: and it does nothing for that.

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Congressman Evans: So I've come to the conclusion Congressman Evans: that that by itself, Congressman Evans: but unless we get everyone to join in, Congressman Evans: it has very little impact.

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Congressman Evans: But it does hurt substantially Congressman Evans: and will hurt substantially, I think. Congressman Evans: Not just farmers in America, Congressman Evans: but consumers as well ultimately,

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Congressman Evans: and certainly the American taxpayer. Male voice 6: Any other questions for Congressman Evans? Male voice 6: There is... oh one on each end. Male voice 7: What can you as our congressional representative do

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Male voice 7: to rectify this particular situation we are talking about? Congressman Evans: Well, that is a... that's a difficult question. Congressman Evans: We can go out and we can that we can Congressman Evans: explain to

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Congressman Evans: citizens in Delaware and elsewhere. Congressman Evans: And we can give talks on the floor of Congressman Evans: the House Representatives and Congressman Evans: the United States Senate.

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Congressman Evans: And we can speak Congressman Evans: out as your representatives Congressman Evans: here in Washington D.C. Congressman Evans: We can speak out with our vote

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Congressman Evans: and with our voice in 1980. Congressman Evans: And I think we can make it Congressman Evans: clear where we stand. Congressman Evans: But it's not just in this area

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Congressman Evans: that the problems are immense. Congressman Evans: There are enormous and they're very complex. Congressman Evans: And the solutions are not, Congressman Evans: are not very simple.

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Congressman Evans: When people say, Well Tom, Congressman Evans: why don't you do something about inflation? Congressman Evans: My answer to that is if people, Congressman Evans: the majority of the members of Congress had

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Congressman Evans: voted the way I had over Congressman Evans: the last three years, Congressman Evans: we wouldn't have the inflation rate Congressman Evans: we have in America today.

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Congressman Evans: People tend to blame others on problems. Congressman Evans: And I would rather take Congressman Evans: a positive viewpoint. People tend to Congressman Evans: to blame OPEC and

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Congressman Evans: the big oil companies. Congressman Evans: And sure they're to blame for, Congressman Evans: for many of our problems. Congressman Evans: But they're not only to blame,

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Congressman Evans: they're not solely the blame for Congressman Evans: our problems that we have in America. Congressman Evans: And if it were just the OPEC cartel Congressman Evans: causing the inflation rate that

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Congressman Evans: we have in America today, Congressman Evans: why is it that in West Germany, Congressman Evans: where they import from Congressman Evans: the OPEC nations some ninety six to

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Congressman Evans: ninety seven percent of all of their oil, Congressman Evans: yet they've got an inflation rate of Congressman Evans: about five point four or five point five percent? Congressman Evans: Japan imports ninety nine percent of

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Congressman Evans: all of its oil from the OPEC nations, Congressman Evans: and yet their rate of inflation is four point two or four point three percent. Congressman Evans: Belgium imports a hundred percent of its oil, Congressman Evans: yet their rate of inflation is four to five percent.

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Congressman Evans: It's not just OPEC and we certainly Congressman Evans: have to develop energy Congressman Evans: independence in this country. Congressman Evans: And that's, that's one factor

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Congressman Evans: that we've got to resolve. Congressman Evans: And we've got to move ahead. Congressman Evans: We have got to start, Congressman Evans: just like any individual

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Congressman Evans: or any family member. Congressman Evans: You can't forever spend Congressman Evans: more than you take in. Congressman Evans: And when you spend more than

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Congressman Evans: you take and you can do it for a while, Congressman Evans: but it catches up to you. Congressman Evans: And it catches up to this government Congressman Evans: and catches up to our people.

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Congressman Evans: ... there is nothing wrong with regulation. Congressman Evans: There's nothing wrong with setting Congressman Evans: goals and objectives. Congressman Evans: Trying to develop a clean environment,

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Congressman Evans: to preserve that environment Congressman Evans: for one and safety rules, Congressman Evans: particularly in the workplace. Congressman Evans: But I think what we

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Congressman Evans: have to do is take a look at Congressman Evans: the benefits from Congressman Evans: those regulations and legislation. Congressman Evans: We also have to take a look at

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Congressman Evans: the cost because they are a factor Congressman Evans: and you have to balance the costs and Congressman Evans: the benefits and then determine where to go. Male voice 2: Oh, Owen Goodin has a question. Mister Goodin: How do you feel about grain reserves

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Goodin: in particular soy beans. They are always talking about Goodin: putting soy beans on the reserve list. Goodin: And they're not on it. Goodin: We believe in a free, market, free export.

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Goodin: And that government keeps Goodin: talking about putting soy beans in the Goodin: grain reserves. Male voice 2: The USDA keeps talking about it. Not the government. Mister Goodin: Right. Congressman Evans: I haven't addressed it, Mister Goodin,

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Congressman Evans: specifically. Congressman Evans: I'd like to hear what you feel about it. Congressman Evans: I think you know Congressman Evans: that generally speaking in principle,

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Congressman Evans: I stand for a free market approach Congressman Evans: with less government involvement Congressman Evans: rather than more government involvement. Congressman Evans: Because everywhere you get

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Congressman Evans: the government involved too intensively, Congressman Evans: whether it be in this country Congressman Evans: or as they had in Congressman Evans: England up until the last year or so ago

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Congressman Evans: with the Margaret Thatcher, Congressman Evans: you cause problems, Congressman Evans: unemployment problems, high inflation rates. Congressman Evans: And I think we, we tend not to look at

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Congressman Evans: recent history and to take a page out of, Congressman Evans: out of history to determine where we go. Congressman Evans: We forget that all too often. Male voice 2: Any other question for Congressman Evans?

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Male voice 2: Oh, go ahead Bruce. Male voice 3: Bruce Walton. Bruce Walton: Yes sir. Bruce Walton: Sir, I have a question. This Bruce Walton: regards to Bruce Walton: labor and I don't know who to direct this to.

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Bruce Walton: In fact, if the senators would just kind Bruce Walton: of lend me me their ear if you can use that phrase. Bruce Walton: I'd like... Male voice 2: Like that very pleasing advertisement. When EF Hutton speaks, people listen.

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[ Room laughter] Male voice 2: When a Delawarean speaks, the congressional delegation listens. Male voice 7: We don't have much, but our ears to lend them. Senator Roth: Well we got two ears and one mouth, right Joe? Bruce Walton: Well I guess it's not a case of lending or spending but...

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Bruce Walton: My question has to Bruce Walton: do with the regulations that we have Bruce Walton: to live by, that Bruce Walton: we're talking about regulation.

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Bruce Walton: You made a statement a Bruce Walton: while ago that regulation Bruce Walton: is not that bad in itself. Well, Bruce Walton: I think we can sit and discuss that for a while

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Bruce Walton: because within Bruce Walton: the Department of Labor, for instance, Bruce Walton: right now, we're living under Bruce Walton: three regulations that have to do with well,

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Bruce Walton: that had to do with people. Bruce Walton: And my question is, who is Bruce Walton: the monitor advocate of who Bruce Walton: can tell

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Bruce Walton: the people in the Department of Labor Bruce Walton: what one definition of a term mean. Bruce Walton: ie. migrants. Bruce Walton: ie. crew leader, ie. farm worker

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Bruce Walton: because the three departments Bruce Walton: are under the Department of Labor, Bruce Walton: yet they're all using different definitions. Bruce Walton: We have to try and live by them.

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Bruce Walton: And when we try to ask them a question, Bruce Walton: they say, Well, that's not my department. Bruce Walton: Well, it's wrong. Congressman Evans: They got the words but they don't but they really don't

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Congressman Evans: sing the tune very well. Bruce Walton: We can meet one but we can't meet another one, that is our problem. Bruce Walton: And our problem is Congressman Evans: It is a catch twenty two situation. Bruce Walton: The problem is, is that

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Bruce Walton: we that have to use labor, for instance, Bruce Walton: in fruit or hand-picked vegetables Bruce Walton: with a lot of people still enjoy. Bruce Walton: We've cut down on

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Bruce Walton: people and the welfare rolls gone up. Bruce Walton: Now to me, it's in direct reverse of Bruce Walton: what they should intend to do, The Department of Labor should keep Bruce Walton: people working and not give 'em a reason

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Bruce Walton: not to work or us a reason not to employ 'em Congressman Evans: Yesterday we had chairman Paul Volcker, Congressman Evans: of the Federal Reserve. Congressman Evans: And every question I asked him,

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Congressman Evans: it seemed to me that he was at odds with Congressman Evans: the with some of the policies Congressman Evans: of this administration. Congressman Evans: That was a wide gap.

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Congressman Evans: He's a Democrat, but he Congressman Evans: sounded like a Republican. Congressman Evans: He certainly sounded like a conservative, Congressman Evans: from an economic standpoint.

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Congressman Evans: But there is no question about Congressman Evans: the fact that we've got, Congressman Evans: we've got excessive regulation. Congressman Evans: One of the problems we have is

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Congressman Evans: that we've got too much government. Congressman Evans: And we've got government that was created Congressman Evans: for a purpose at a particular time. Congressman Evans: And it's no longer serving its purpose.

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Congressman Evans: So as both Bill and Joe Congressman Evans: have and I have in in the House, Congressman Evans: you know, we need that sunset legislation Congressman Evans: they've both spoken about.

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Congressman Evans: We need to say at a particular point, Congressman Evans: everybody gets reassessed, Congressman Evans: everybody gets re-evaluate it. Congressman Evans: And if you're not doing

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Congressman Evans: the same job you were Congressman Evans: intended to do and you're not doing it well, Congressman Evans: then cut it out. Congressman Evans: Don't add to it. This budget,

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Congressman Evans: the fiscal year 1981 budget, Congressman Evans: is called non inflationary. Congressman Evans: Everybody says, Oh, you know we're Congressman Evans: trying to exercise restraint.

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Congressman Evans: But I think it's just like Congressman Evans: the 1980 fiscal budget, Congressman Evans: that called for a deficit projection of Congressman Evans: $29 billion and they

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Congressman Evans: ended up with $40 billion. Congressman Evans: This one calls for a deficit Congressman Evans: of 16 billion dollars. Congressman Evans: And you know something, they have

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Congressman Evans: priced in the Department of Defense budget, Congressman Evans: the cost of energy on the basis Congressman Evans: of August and September of 1979. Congressman Evans: You've been to the gasoline pump recently,

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Congressman Evans: you know darn well that the Congressman Evans: price has gone up. Congressman Evans: That's $4.6 billion gap right there. Congressman Evans: They also, in terms of the grain embargo,

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Congressman Evans: they've only allocated Congressman Evans: 800 million dollars for that, Congressman Evans: that could continue if the, Congressman Evans: if the president wants it to

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Congressman Evans: continue and the subsidies go on. Congressman Evans: There have been innumerable areas where Congressman Evans: the projection of the expenses has been Congressman Evans: understated and the revenue

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Congressman Evans: has been overstated. Congressman Evans: And that to me is Congressman Evans: not the way to get Congressman Evans: at the inflationary problem.

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Male voice 2: Any other questions... Senator Roth: ...that were asked earlier. Senator Roth: Number 1, I share Senator Roth: the same concern that Senator Roth: Tom expressed about the embargo.

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Senator Roth: Very candidly, Senator Roth: it's not an easy time to speak up. Senator Roth: Because we have wanted to be Senator Roth: supportive of our president,

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Senator Roth: particularly in his efforts to warn Senator Roth: the Soviet Union that Senator Roth: these aggressive acts are not to be tolerate. Senator Roth: At the same time as

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Senator Roth: one who, as a ranking member of trade, Senator Roth: I've been very concerned Senator Roth: about not only this administration, Senator Roth: but past administrations using

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Senator Roth: an embargo for a, Senator Roth: for any purpose whatsoever. Senator Roth: I happened to feel very Senator Roth: strongly that the United States has to

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Senator Roth: become a reliable supplier Senator Roth: of food throughout the world. Senator Roth: And if we're going to sell more Senator Roth: and our deficit has been bad enough,

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Senator Roth: our trade imbalance. Senator Roth: If it hadn't been for the farm people, Senator Roth: I don't know where we would be. Senator Roth: But if we are going to improve upon that,

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Senator Roth: as I said we should Senator Roth: I don't know how many times Senator Roth: that Japan and elsewhere, Senator Roth: they have to know that they

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Senator Roth: can rely upon us as Senator Roth: a supplier of food Senator Roth: or they're not going to purchase from us. Senator Roth: I think that we made a mistake

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Senator Roth: using the grain embargo. Senator Roth: I think if it were serious enough Senator Roth: I share what the rest of you said. Senator Roth: I think maybe many of you heard me say

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Senator Roth: this last week in Delaware Senator Roth: then I agree it Senator Roth: should have been across the board. Senator Roth: Regulatory reform,

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Senator Roth: I there again, Senator Roth: am greatly concern is all is Senator Roth: your entire delegation is, Senator Roth: about the continuing pile up of

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Senator Roth: regulations and the conflicts. It is bad enough Senator Roth: frankly, and having Senator Roth: conflicts between agencies, Senator Roth: but when the same department can't agree,

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Senator Roth: I don't know how you are ever going to bring Senator Roth: any sense or coherence to this mess that Senator Roth: we're in. We're trying to Senator Roth: deal with that subject

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Senator Roth: in my Government Operations Committee. Senator Roth: One of my proposals, Senator Roth: which is somewhat controversial, Senator Roth: is that we should give the president

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Senator Roth: the authority Senator Roth: to reconcile conflicting regulations. Senator Roth: I won't bore you with the details, Senator Roth: but somewhere, somehow in government,

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Senator Roth: you can't have one agency Senator Roth: ruling this way and another over here Senator Roth: and expect you on the farm or in Senator Roth: the private sector complying with them.

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Senator Roth: There are no quick answers to it. Senator Roth: When you take 30 to 40 years to build Senator Roth: this tremendous the overlay of regulations, Senator Roth: you're not going to wipe it out overnight.

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Senator Roth: But we've got to have a can-do spirit. Senator Roth: I'm involved with late as you probably know, Senator Roth: because I'm a conferee on Senator Roth: the so-called windfall profits tax,

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Senator Roth: I have some good news there. Senator Roth: As some of you, I'm sure are Senator Roth: aware that on the Senate side, Senator Roth: I was successful in getting

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Senator Roth: roughly $18 to $20 Senator Roth: billion set aside for the first year, Senator Roth: 1981 for tax relief. Senator Roth: Now, everybody said when it

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Senator Roth: came to the Senate floor, Senator Roth: although there were efforts to knock out Senator Roth: the other trust funds and Senator Roth: the other trust funds were knocked out.

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Senator Roth: I was pleased when Senator Roth: the... Ed Muskie an Magnusson, Senator Roth: Henry Bellman and the others Senator Roth: did not attack my taxpayer's trust fund.

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Senator Roth: They didn't attack it for one reason. Senator Roth: They knew they were going to lose. Senator Roth: But many people said, well, Senator Roth: what's going to happen is going to go into

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Senator Roth: conference and we're going Senator Roth: to lose that in conference. Senator Roth: I'm happy to say that as of this morning, Senator Roth: not only did we not lose it,

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Senator Roth: but it has been confirmed by Senator Roth: the compories for 1981. Senator Roth: As a matter of fact, 60%. Senator Roth: 60% percent of the windfall profits tax

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Senator Roth: is going to be set aside for taxpayer relief. Senator Roth: And I think that's a step forward. Senator Roth: But let me point out that is Senator Roth: only the first batter.

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Senator Roth: They've got the funds, or we'll have a funds. Senator Roth: But Congress still has to Senator Roth: vote on the tax relief itself. Senator Roth: I guarantee that it will

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Senator Roth: have an opportunity to do it. Senator Roth: And I believe that there will be Senator Roth: some tax relief this year. Senator Roth: The thing that basically

00:19:32.390 - 00:19:44.950

Senator Roth: concerns me as you look down the eighties, Senator Roth: it is a fact that, among other things, Senator Roth: we're going to be taking additional Senator Roth: $1.5 trillion,

00:19:44.950 - 00:19:54.320

Senator Roth: not billion, trillion dollars Senator Roth: out of the private sector. Senator Roth: Why? Senator Roth: Because inflation means increase income taxes

00:19:54.320 - 00:20:02.480

Senator Roth: paid by you and Senator Roth: all the people in the private sector. Senator Roth: The built-in Social Security Senator Roth: taxes plus a windfall.

00:20:02.480 - 00:20:11.330

Senator Roth: And that's going to amount to $1.5 trillion. Senator Roth: Now if we're going to be competitive Senator Roth: with the Japanese, Senator Roth: with the West Germans,

00:20:11.330 - 00:20:24.080

Senator Roth: with the European countries, Senator Roth: we have to have the best plants in the world. Senator Roth: You, as farmers, know the cost of equipment, Senator Roth: you gotta be able to keep more.

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Senator Roth: So one of the fights that I'm Senator Roth: leading here in Washington is Senator Roth: to try to take this tax drag off the farmers, Senator Roth: off the private sector.

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Senator Roth: Now the bill has some other things I Senator Roth: think that will interests you. Senator Roth: We... just before I left at 12:30, Senator Roth: we did agree that there should be tax relief

00:20:44.900 - 00:20:56.780

Senator Roth: for gasahol to encourage that. Extended, Senator Roth: I think this is Senator Roth: final until 19.2, the tax exemption. Senator Roth: I'm pleased to say that the carryover,

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Senator Roth: which I was one of two to vote against Senator Roth: originally, on estate taxes, Senator Roth: that's being dropped, I mean, Senator Roth: that's been agreed to so that the

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Senator Roth: carry over provisions that Senator Roth: so many of you wrote me about, Senator Roth: it's been canceled out Senator Roth: and that's been agreed in conference.

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Senator Roth: Now, I was happy to co-sponsor with Nelson, Senator Roth: Senator Nelson of Wisconsin Senator Roth: a bill that would prevent an estate exemption Senator Roth: of $250 thousand because

00:21:27.140 - 00:21:36.260

Senator Roth: inflation is just making it impossible. Senator Roth: You know what's happening Senator Roth: to land values. And incidentally, Senator Roth: I'm also a co-sponsor of

00:21:36.260 - 00:21:46.760

Senator Roth: legislation to provide that Senator Roth: foreigners have to pay capital gains on Senator Roth: sale of farm land, just like you do. Senator Roth: I don't know how many of you

00:21:46.760 - 00:21:53.270

Senator Roth: are aware of the fact, Senator Roth: but there's a big loophole. Senator Roth: Foreign buyers Senator Roth: of American land, when they sell it,

00:21:53.270 - 00:22:03.220

Senator Roth: have to pay no taxes under present law. Senator Roth: So they can afford to pay... Senator Roth: if you're competing with a foreign investor, Senator Roth: they have a great advantage

00:22:03.220 - 00:22:09.590

Senator Roth: because they know when they sell, Senator Roth: they don't have to pay anything Senator Roth: and that should be canceled out. Senator Roth: And I'm hopeful that before the year is out,

00:22:09.590 - 00:22:18.950

Senator Roth: they'll do something about that. Senator Roth: Last year, Senator Roth: last year I proudly Senator Roth: said that I thought we had done

00:22:18.950 - 00:22:29.060

Senator Roth: something about the investment credit Senator Roth: and houses for poultry. Senator Roth: But one thing you got to say about Senator Roth: the IRS and the government agencies,

00:22:29.060 - 00:22:41.350

Senator Roth: they got nine lives at least. [Laughter in background] Senator Roth: We passed the civic legislation to Senator Roth: make this retroactive to Senator Roth: 1971, as was intended,

00:22:41.350 - 00:22:50.360

Senator Roth: thinking that that would solve the problem. Senator Roth: But now the IRS Senator Roth: has come up with the idea that Senator Roth: unless you apply for

00:22:50.360 - 00:22:59.030

Senator Roth: that investment tax credit, Senator Roth: you're not eligible under Senator Roth: the revised legislation. Senator Roth: And that wasn't the intent of Congress.

00:22:59.030 - 00:23:06.080

Senator Roth: IRS knows that. A lot of people, why Senator Roth: bother, why bother to Senator Roth: apply when you knew you Senator Roth: weren't going to get it?

00:23:06.080 - 00:23:19.690

Senator Roth: So we've introduced a bill to rectify that. Senator Roth: I think that will pass this year Senator Roth: as well. Two things, Senator Roth: then I'll shut up.

00:23:19.690 - 00:23:32.510

Senator Roth: Two things concern me in America. Senator Roth: One is productivity. Senator Roth: I think we gotta do something about that. Senator Roth: I've talked a little bit about tax drag.

00:23:32.510 - 00:23:42.090

Senator Roth: And secondly, we gotta do more Senator Roth: about trade and exports. Senator Roth: I want to say that the farm community Senator Roth: is high in both regards. Thank you.

00:23:42.090 - 00:23:59.800

[Applause] Male voice 9: ... an hour is too high as it is. Do you see moves down the road to curb the minimum wage regulation? Senator Roth: Well, that hasn't been the case in the past, Senator Roth: and I can't really say that

00:23:59.800 - 00:24:09.370

Senator Roth: I see it happening in the future. Senator Roth: It has been my hope and is Senator Roth: still my hope that somehow this year Senator Roth: we might at least get some kind

00:24:09.370 - 00:24:19.640

Senator Roth: of an exemption for Senator Roth: teenagers to help their employment. Senator Roth: That's been fought very actively as you know, Senator Roth: whether or not we can get it done,

00:24:19.640 - 00:24:40.660

Senator Roth: I don't know, but I see Senator Roth: nothing on the horizon to be to say that will happen. Male voice 10: Mr. Short? Mr. Short: Is the low tax on gasohol and alcohol energy a detriment more to us than a benefit? Senator Roth: Well you get a lot of controversy on that.

00:24:40.660 - 00:24:51.980

Senator Roth: The feeling, one of the arguments being Senator Roth: used is that you use more energy in making gasohol Senator Roth: then you save. Senator Roth: But a lot of the experts are claiming that

00:24:51.980 - 00:25:00.860

Senator Roth: that will not be the case once Senator Roth: we get it into major production. Senator Roth: I think what we have to do is Senator Roth: to move down all these directions in

00:25:00.860 - 00:25:09.890

Senator Roth: the hope that one or the other, or more likely Senator Roth: a combination will help us solve our problem. Senator Roth: There's no question. There's no question Senator Roth: about what somehow we

00:25:09.890 - 00:25:19.550

Senator Roth: have to get away from Senator Roth: this reliance on imported oil. Senator Roth: So I think it's worth that chance. Male voice 2: Another questions for Senator Roth?

00:25:19.550 - 00:25:29.030

Senator Joe Biden: I'd like to... Senator Biden: I was going to talk to you about farming issues, Senator Biden: but it seems to me Senator Biden: in light of the questions there

00:25:29.030 - 00:25:37.820

Senator Biden: are broader issues that impact more Senator Biden: directly on you or equally as directly some of Senator Biden: the specific issues that we Senator Biden discussed that are in

00:25:37.820 - 00:25:51.230

Senator Biden: the agriculture committee right now. Senator Biden: Let me follow on with what Bill and Tom said with a Senator Biden: slightly different tact. Senator Biden: You know, Mark Twain is attributed to having,

00:25:51.230 - 00:26:01.570

Senator Biden: having been the one that said, Senator Biden: can you hear me in the back? Senator Biden: There is nothing so horrible as witnessing Senator Biden: the murder of a beautiful myth

00:26:01.570 - 00:26:10.060

Senator Biden: by an ugly fact. Senator Biden: And there are a number of Senator Biden: beautiful myths that we are operating under, Senator Biden: and we've continued to operate under

00:26:10.060 - 00:26:21.170

Senator Biden: in my opinion in this country. Senator Biden: And they are being murdered by Senator Biden: facts and not too soon I might add. Senator Biden: If there's any one thing

00:26:21.170 - 00:26:32.550

Senator Biden: when that question was asked, and I will be Senator Biden: specific, when that question Senator Biden: was asked of Congressman Evans Senator Biden: what can be done to

00:26:32.550 - 00:26:41.060

Senator Biden: rectify the situation that Senator Biden: we had discussed up to that point, Senator Biden: Tom gave a response which is not Senator Biden: inconsistent with what

00:26:41.060 - 00:26:50.690

Senator Biden: I... want me to hold that for you so your arm doesn't break? [Room laughter] Senator Biden: And that is, Senator Biden: I think that the most

00:26:50.690 - 00:27:02.250

Senator Biden: important general statement Senator Biden: that can be made about what can be Senator Biden: done is that we Senator Biden: can level with the American people

00:27:02.250 - 00:27:11.650

Senator Biden: about what we can and can't do. Senator Biden: And let me begin by speaking Senator Biden: to the two most important topics Senator Biden: that I think are

00:27:11.650 - 00:27:22.100

Senator Biden: both most timely and Senator Biden: most pressing in terms of decisions Senator Biden: having to be arrived at Senator Biden: by your leadership in Washington.

00:27:22.100 - 00:27:29.450

Senator Biden: And the first is foreign policy. Senator Biden: Foreign policy is no more Senator Biden: important in the long run Senator Biden: than domestic policy.

00:27:29.450 - 00:27:38.600

Senator Biden: But right now it happens to Senator Biden: be the issue that it's the top of the board, Senator Biden: even though inflation and trade issues Senator Biden: as Bill mentioned,

00:27:38.600 - 00:27:45.950

Senator Biden: and domestic taxing policy Senator Biden: and all the other things you mentioned Senator Biden: are important and pressing. Senator Biden: But there's nothing so pressing

00:27:45.950 - 00:27:51.890

Senator Biden: as life and death, Senator Biden: there's nothing so pressing Senator Biden: as the prospect of a, Senator Biden: a direct confrontation and

00:27:51.890 - 00:28:02.510

Senator Biden: possibly a nuclear war. Senator Biden: And right now we have members, Senator Biden: and I must say that Senator Biden: I don't know Tom's record in the House,

00:28:02.510 - 00:28:10.040

Senator Biden: but I do know Bill's. And Bill Senator Biden: is not one who is saying Senator Biden: what I'm about to suggest. Senator Biden: But you hear the presidential candidates and

00:28:10.040 - 00:28:19.830

Senator Biden: even our president on occasion saying Senator Biden: such things as we Senator Biden: can drastically increase defense spending. Senator Biden: And at the same time,

00:28:19.830 - 00:28:30.470

Senator Biden: not fundamentally alter our spending in Senator Biden: other areas. That we can continue to increase Senator Biden: things like veterans benefits, Senator Biden: for example, which everyone's

00:28:30.470 - 00:28:39.550

Senator Biden: for veterans benefits. Senator Biden: No one's against veterans. Senator Biden: We increased that to $28 billion from Senator Biden: about $14 billion over the last eight years.

00:28:39.550 - 00:28:49.220

Senator Biden: We increase Social Security and Senator Biden: those direct payments to individuals, Senator Biden: $220 billion of which, or is it $202 billion Senator Biden: I'm not sure Bill, is

00:28:49.220 - 00:28:58.530

Senator Biden: for Social Security payments. Senator Biden: And the remaining $200 billion to make Senator Biden: up almost $400 billion of Senator Biden: direct payments to individuals out

00:28:58.530 - 00:29:10.360

Senator Biden: of a $619 billion budget. Senator Biden: And we can't do all of these things. Senator Biden: Increased our defense budget by Senator Biden: $30 billion this year as some are suggesting,

00:29:10.360 - 00:29:25.920

Senator Biden: and balanced the budget, Senator Biden: and give tax relief, and increase benefit. Senator Biden: It just can not be done. Senator Biden: There is no way for that to be done.

00:29:25.920 - 00:29:33.320

Senator Biden: And everything comes down Senator Biden: to a matter of priorities. Senator Biden: It seems to me the domestic priority Senator Biden: that is the most important

00:29:33.320 - 00:29:39.930

Senator Biden: one, in my opinion, is Senator Biden: inflation. Senator Biden: If we annualize the inflation rate Senator Biden: based on this month,

00:29:39.930 - 00:29:45.600

Male voice 10: we're not talking about Senator Biden: a 13 percent inflation rate Senator Biden: for the year 1980. Senator Biden: We're talking about an almost

00:29:45.600 - 00:29:59.090

Senator Biden: 19% inflation rate for 1980. Senator Biden: A democratic society, with a small d, Senator Biden: not a capital D, a democratic society Senator Biden: cannot maintain itself,

00:29:59.090 - 00:30:09.410

Senator Biden: in my opinion, with runaway inflation, Senator Biden: it undermines the social fabric completely. Senator Biden: And we can argue whether Senator Biden: or not 6% or 8% or 10% is runaway.

00:30:09.410 - 00:30:17.090

Senator Biden: But sure in the double Senator Biden: close to 20% inflation Senator Biden: is runaway by Senator Biden: anybody's standards at any time.

00:30:17.090 - 00:30:27.550

Senator Biden: Now, the reason why I was late is there Senator Biden: is an equally, maybe not well, Senator Biden: I will say equally Senator Biden: important endeavor that's going on,

00:30:27.550 - 00:30:35.860

Senator Biden: on the foreign policy front right now. Senator Biden: For the first time in 30 years, Senator Biden: the United States Senate, Senator Biden: and this may come as a shock to you,

00:30:35.860 - 00:30:42.860

Senator Biden: for the first time in 30 years, Senator Biden: the United States Senate is doing Senator Biden: a major and total reassessment Senator Biden: of our foreign policy,

00:30:42.860 - 00:30:53.020

Senator Biden: setting out what the goals for Senator Biden: our foreign policy will be in Senator Biden: the 1980s to and through the year 2000. Senator Biden: Too many times we have

00:30:53.020 - 00:31:04.580

Senator Biden: made our foreign policy decisions Senator Biden: based upon the need to follow Senator Biden: our Defense Department's decision. Senator Biden: We have not assessed whether or not we

00:31:04.580 - 00:31:16.400

Senator Biden: have a vital interests in the first instance. Senator Biden: And then decided how much defense Senator Biden: capability do we need to ensure Senator Biden: that we maintain that vital interests?

00:31:16.400 - 00:31:24.380

Senator Biden: We have tended to suggest that Senator Biden: we build with defense establishment Senator Biden: or not build it, and then fit Senator Biden: the foreign policy around that.

00:31:24.380 - 00:31:30.560

Senator Biden: You're seeing that happen in Senator Biden: the Persian Gulf right now. Senator Biden: Right now we're in a situation Senator Biden: where because of

00:31:30.560 - 00:31:39.700

Senator Biden: the proximity the Soviet Union Senator Biden: to the area of conflict, Senator Biden: because of the, the Senator Biden: overwhelming

00:31:39.700 - 00:31:47.630

Senator Biden: superiority in conventional weapons Senator Biden: that the Soviets have, Senator Biden: particularly in that area of the world. Senator Biden: And because of their

00:31:47.630 - 00:31:57.630

Senator Biden: ability to what they call Senator Biden: project force and that area of the world, Senator Biden: we really have enunciated Senator Biden: a foreign policy after

00:31:57.630 - 00:32:07.520

Senator Biden: we have set our defense policy in motion. Senator Biden: And I will submit to you Senator Biden: that we are not really Senator Biden: capable, short of using nuclear deterrents,

00:32:07.520 - 00:32:14.510

Senator Biden: that means nuclear war, Senator Biden: of meeting the commitment Senator Biden: in the Persian Gulf Senator Biden: now.

00:32:14.510 - 00:32:23.870

Senator Biden: We conventionally can't do it. Senator Biden: It just can't be done. Senator Biden: Yet. We are told that Senator Biden: everyone is led to believe that if

00:32:23.870 - 00:32:32.060

Senator Biden: we just show enough resolve, Senator Biden: we somehow will do it. Senator Biden: Well, all the resolve in the world Senator Biden: doesn't allow my child unless he has

00:32:32.060 - 00:32:38.240

Senator Biden: an awful lot of luck to be able to confront Senator Biden: me physically at Senator Biden: ten years old and knock me out. Senator Biden: Male voice 10: He can be

00:32:38.240 - 00:32:46.160

Senator Biden: the most resolved child in the world. Senator Biden: But I was just overwhelmed him. Senator Biden: And we are in Senator Biden: conflict in an area of the world

00:32:46.160 - 00:32:56.640

Senator Biden: now where our interests is very vital. Senator Biden: It means whether or not, not just with Senator Biden: the industrial capacity of this nation Senator Biden: continues to limp along, if you will,

00:32:56.640 - 00:33:05.750

Senator Biden: but whether the agriculture capacity to which Senator Biden: the other two gentlemen have spoken Senator Biden: has any viability. Senator Biden: We right now rely upon

00:33:05.750 - 00:33:16.850

Senator Biden: from the Persian Gulf Senator Biden: alone through the Straits of Hormuz Senator Biden: thirty two percent of all our energy Senator Biden: is imported from there. Thirty two percent.

00:33:16.850 - 00:33:26.750

Senator Biden: Now, we would say that by the year 1985, Senator Biden: hopefully we would move Senator Biden: toward energy independence. Senator Biden: I had been made chairman of

00:33:26.750 - 00:33:33.650

Senator Biden: a committee that has just been formed, Senator Biden: that committee to be the one to write Senator Biden: the report over the next year, Senator Biden: on what should be the foreign policy

00:33:33.650 - 00:33:42.580

Senator Biden: and what should be the defense policy Senator Biden: both, not independent for this nation Senator Biden: from that committee. Senator Biden: We had our first witness today.

00:33:42.580 - 00:33:51.170

Senator Biden: And some of the myths I spoke Senator Biden: about earlier that should be shattered here. Senator Biden: Regardless of whether Tom Evans and I Senator Biden: disagree or Bill and I disagree on

00:33:51.170 - 00:33:58.880

Senator Biden: the question of de-control of oil. Senator Biden: I happen to believe we should not Senator Biden: have de-controlled, the price of oil, Senator Biden: others suggest we should.

00:33:58.880 - 00:34:07.250

Senator Biden: That is reasonable Senator Biden: men and women would disagree on that point. Senator Biden: But the one thing that we should blow away is Senator Biden: the assumption that as

00:34:07.250 - 00:34:18.530

Senator Biden: a consequence of de-control, Senator Biden: as a consequence of conservation, Senator Biden: as a consequence of alternative fuels, Senator Biden: we are somehow, by the year 1985,

00:34:18.530 - 00:34:30.800

Senator Biden: going to be able to be energy Senator Biden: independent. We are not. Senator Biden: Even if you take the best projection, Senator Biden: in terms of alternative sources of energy,

00:34:30.800 - 00:34:39.890

Senator Biden: if we consume, I mean, Senator Biden: if we conserve at the most optimistic Senator Biden: rate including gas rationing Senator Biden: if that were to occur,

00:34:39.890 - 00:34:50.840

Senator Biden: nd if we continue that de-control policy, Senator Biden: The figures presented this morning Senator Biden: are that instead of Senator Biden: being thirty two percent dependent

00:34:50.840 - 00:35:06.070

Senator Biden: on Persian Gulf oil, Senator Biden: we will be thirty four percent depended on Persian Gulf oil. Senator Biden: Because of the increased world consumption, Senator Biden: the decreased production...

00:35:06.070 - 00:35:15.710

Senator Biden: In the United States, for example, Senator Biden: even the Petroleum Institute of America, Senator Biden: the oil companies study groups point out, Senator Biden: and this is not

00:35:15.710 - 00:35:23.740

Senator Biden: an argument against de-control, Senator Biden: I'm not citing it for that, Senator Biden: point out that in the year 1985, Senator Biden: if everything goes well,

00:35:23.740 - 00:35:33.030

Senator Biden: if the Alaskan fields come in, Senator Biden: if we build a new pipeline, Senator Biden: if we find an offshore oil Senator Biden: on the continental shelf,

00:35:33.030 - 00:35:46.200

Senator Biden: we will still have Senator Biden: a net decrease in the amount of energy, Senator Biden: oil and gas specifically, Senator Biden: that we are able to produce.

00:35:46.200 - 00:35:55.370

Senator Biden: So for us to sort of go Senator Biden: along and allow the American people to Senator Biden: operate under the delusion Senator Biden: that we're going to work our way out

00:35:55.370 - 00:36:04.560

Senator Biden: of this by 1985 Senator Biden: because we're going to find all this new oil, Senator Biden: because always going to happen, Senator Biden: it's just, I think, kidding

00:36:04.560 - 00:36:15.260

Senator Biden: the American people and a big, Senator Biden: big mistake to be made. Senator Biden: Secondly, if there is Senator Biden: an interruption in the supply

00:36:15.260 - 00:36:25.530

Senator Biden: of oil in the Middle East, Senator Biden: and I doubt whether any of Senator Biden: you in this room would be willing to Senator Biden: take an even bet that the next five years,

00:36:25.530 - 00:36:34.090

Senator Biden: there'll be no interruption Senator Biden: in the Persian Gulf area. Senator Biden: That everything will stay stable in Bahrain, Senator Biden: everything will stay stable

00:36:34.090 - 00:36:41.110

Senator Biden: in the Arab Emirates, Senator Biden: everything will remain stable in Senator Biden: Saudi Arabia and all down the list, Senator Biden: I doubt whether many of you'd be

00:36:41.110 - 00:36:52.050

Senator Biden: willing to take that bet. Senator Biden: If there is an interruption, Senator Biden: if by terrorism or Senator Biden: by Soviet aggression, that two extremes,

00:36:52.050 - 00:37:02.890

Senator Biden: the oil fields in Saudi Arabia Senator Biden: are put out of commission Senator Biden: for a month to a year. Senator Biden: The entire Western economies come

00:37:02.890 - 00:37:15.550

Senator Biden: to their knees rapidly. Senator Biden: We're in a situation where seventy five percent, seventy two to be exact, Senator Biden: of all of France's imported oil Senator Biden: comes from the Persian Gulf

00:37:15.550 - 00:37:22.060

Senator Biden: specifically, not OPEC Senator Biden: generally, specifically there. Germany, Senator Biden: forty four percent. Senator Biden: The Benelux countries, about

00:37:22.060 - 00:37:31.470

Senator Biden: eighty five percent. It goes on and on. Senator Biden: Now, the reason why I bore you Senator Biden: with all of this is Senator Biden: that Senator Roth has been the lone voice,

00:37:31.470 - 00:37:41.230

Senator Biden: and I'm not just saying this because I Senator Biden: am here before all of you, Senator Biden: and strange as it may sound, Senator Biden: Bill and I cooperate an awful lot

00:37:41.230 - 00:37:54.190

Senator Biden: down here in the Senate and get on very well. Senator Biden: Bill Roth has been the lone voice in this body Senator Biden: for the position that Senator Biden: the long-term economic security

00:37:54.190 - 00:38:01.980

Senator Biden: of the United States Senator Biden: lies in a revitalized trade policy Senator Biden: and increase Senator Biden: productivity and they are related.

00:38:01.980 - 00:38:12.760

Senator Biden: Now, if in fact there Senator Biden: is an interruption in Senator Biden: the supply of oil from the Persian Gulf, Senator Biden: bringing industrial capacity of

00:38:12.760 - 00:38:22.250

Senator Biden: Western Europe and Japan to its knees, Senator Biden: which it will undoubtedly for Senator Biden: the first time on the record Senator Biden: the administration and

00:38:22.250 - 00:38:31.460

Senator Biden: other witnesses said today, Senator Biden: there is no alternative to Senator Biden: economic chaos no matter what Senator Biden: we plan to do in the next five years,

00:38:31.460 - 00:38:41.450

Senator Biden: if the Straits of Hormuz are blocked, none. Senator Biden: None, no more pipe dreaming, Senator Biden: none. If that occurs, Senator Biden: the very thing that Bill is

00:38:41.450 - 00:38:49.530

Senator Biden: working for in terms of trade policy, Senator Biden: even if we were able to insulate ourselves, Senator Biden: you're not going to have a whole lot Senator Biden: of people to sell your wheat to.

00:38:49.530 - 00:38:56.850

Senator Biden: You're not going to have a whole lot of Senator Biden: markets to compete in because Senator Biden: there's not going to be money Senator Biden: to purchase the goods.

00:38:56.850 - 00:39:08.060

Senator Biden: So we are unfortunately tied to, Senator Biden: in a strange perverse way, Senator Biden: to the security, Senator Biden: the economic security of Japan,

00:39:08.060 - 00:39:14.960

Senator Biden: Western Europe, and Senator Biden: the Third World nations who are Senator Biden: hurt even more by these kinds of embargoes Senator Biden: and increase in price.

00:39:14.960 - 00:39:26.260

Senator Biden: The last point that I would like to make in Senator Biden: a general way before Senator Biden: I respond to any questions and hear Senator Biden: Bill's judgment cast, [Laughter]

00:39:26.260 - 00:39:41.690

Senator Biden: is that we in this country do Senator Biden: have the capability and Senator Biden: resolve to be able to solve the problem. Senator Biden: And the way we solve the problem is

00:39:41.690 - 00:39:49.850

Senator Biden: first recognizing really what it is. Senator Biden: And we say, all right, Senator Biden: we have to spend Senator Biden: more money on conventional weaponry this year.

00:39:49.850 - 00:40:00.140

Senator Biden: And we're going to have to say, Senator Biden: whether it be to veterans, Senator Biden: some of you folks are retired veterans, Senator Biden: Social Security recipients, and some of

00:40:00.140 - 00:40:09.230

Senator Biden: you are Social Security recipients, Senator Biden: or the businessmen, Senator Biden: and you may have other businesses, Senator Biden: who are in a position to be able to

00:40:09.230 - 00:40:19.450

Senator Biden: have their particular aspects Senator Biden: of their trade underwritten by Senator Biden: guarantees from the government Senator Biden: that we're not going to increase your take.

00:40:19.450 - 00:40:34.410

Senator Biden: Not just take on what must be taken on, Senator Biden: and that is the welfare fraud, etc. Senator Biden: That's important. Senator Biden: We're talking about over half the budget

00:40:34.410 - 00:40:43.230

Senator Biden: being what we call uncontrollable. Senator Biden: Bill Roth came and testified before Senator Biden: my committee about a Senator Biden: month ago, the Budget Committee.

00:40:43.230 - 00:40:52.940

Senator Biden: And he and I have slightly different plans, Senator Biden: but essentially the same thing, Senator Biden: attempts to what we do Senator Biden: call control the uncontrollables.

00:40:52.940 - 00:41:03.140

Senator Biden: That is to make subject to, Senator Biden: if not yearly authorization, Senator Biden: at least at a time Senator Biden: certain, all these programs that once we

00:41:03.140 - 00:41:11.010

Senator Biden: put in motion are not Senator Biden: susceptible to anything but elimination. Senator Biden: You can't trim them. Senator Biden: As a matter of law, once we say you get

00:41:11.010 - 00:41:18.530

Senator Biden: X amount of money because Senator Biden: of supplemental Social Security, Senator Biden: or X amount of money because Senator Biden: of a pension fund that

00:41:18.530 - 00:41:27.620

Senator Biden: and from the military or whatever it may be, Senator Biden: that's no longer controllable. Senator Biden: You can stand here all you want. Senator Biden: We can go out there and pass laws that says

00:41:27.620 - 00:41:37.120

Senator Biden: we shouldn't, say we shouldn't do that. Senator Biden: But unless we revoke Senator Biden: the law that set that up in the first place, Senator Biden: we can't do anything about it.

00:41:37.120 - 00:41:43.860

Senator Biden: Because you can then go Senator Biden: to a court and say, 'Hey, look, Senator Biden: the Congress passed this law in Senator Biden: 1967 and promised it.

00:41:43.860 - 00:41:51.830

Senator Biden: They can't retroactively go back Senator Biden: now or prospectively change that.' Senator Biden: So we have to do we Senator Biden: call, won't bore you with the details of that,

00:41:51.830 - 00:41:56.990

Senator Biden: but if anybody is really interested, Senator Biden: drop me a note, Senator Biden: I'll send you the legislation. Senator Biden: It's not that difficult.

00:41:56.990 - 00:42:04.550

Senator Biden: I mean, it's very basic. Senator Biden: That, coupled with a sunset legislation, Senator Biden: coupled with what the gentleman Senator Biden: asked all the way in the back earlier,

00:42:04.550 - 00:42:13.070

Senator Biden: what do we do about minimum wage and Senator Biden: Social Security increases right now? Senator Biden: Some of you may recall the last election, Senator Biden: I made the fatal mistake of

00:42:13.070 - 00:42:19.730

Senator Biden: acknowledging publicly Senator Biden: that I made a number of mistakes Senator Biden: and pointed out two specifically. Senator Biden: I've learned that's never

00:42:19.730 - 00:42:26.180

Senator Biden: really good thing to do. [Laughter] Senator Biden: And one of those mistakes Senator Biden: that I made and acknowledged Senator Biden: then was I voted for

00:42:26.180 - 00:42:34.400

Senator Biden: the increase in the minimal wage. Senator Biden: I before the election, Senator Biden: not after the election, to acknowledge Senator Biden: that that was a mistake,

00:42:34.400 - 00:42:41.330

Senator Biden: that there should be Senator Biden: a teenage differential and Senator Biden: that I would work to delay the minimum wage, Senator Biden: implement the increased

00:42:41.330 - 00:42:46.710

Senator Biden: increments and minimum wage. Senator Biden: And the same with Senator Biden: the Social Security tax increase, Senator Biden: which I did vote against.

00:42:46.710 - 00:42:56.780

Senator Biden: That was not a mistake. I was one of, Senator Biden: I think eight who voted against it at the time. Senator Biden: Now, the prospect of Senator Biden: that happening are not very good.

00:42:56.780 - 00:43:05.260

Senator Biden: The only way in which we're going Senator Biden: to gain control short-term, Senator Biden: it seems to me is to do two things. Senator Biden: One, straight up tell

00:43:05.260 - 00:43:10.150

Senator Biden: the American people when Senator Biden: they're in the mood to be Senator Biden: told when they are Senator Biden: concerned about

00:43:10.150 - 00:43:16.610

Senator Biden: their legitimate defense needs, Senator Biden: not only use this Senator Biden: as an opportunity to increase Senator Biden: our conventional capabilities, we should

00:43:16.610 - 00:43:24.670

Senator Biden: and should have done all along. Senator Biden: But use this as an opportunity Senator Biden: to get at some other problems Senator Biden: that are very difficult politically

00:43:24.670 - 00:43:33.550

Senator Biden: to address unless you have a counter balance. Senator Biden: If I come in to you Senator Biden: and suggest to you when there Senator Biden: is a period of prosperity and no inflation,

00:43:33.550 - 00:43:43.130

Senator Biden: I'm going to cut a benefit you're receiving, Senator Biden: only thing that Senator Biden: assures is I'm going to when Senator Biden: you walk into the booth, the next election.

00:43:43.130 - 00:43:50.840

Senator Biden: But if I come to you Senator Biden: at a time when you realize for Senator Biden: real that there are Senator Biden: serious problem facing this country,

00:43:50.840 - 00:43:59.030

Senator Biden: and you understand because Senator Biden: the American people are basically Senator Biden: pretty darn bright, that they can't have at all. Senator Biden: The only way you do it is with mirrors as

00:43:59.030 - 00:44:07.760

Senator Biden: one of the presidential candidates said, Senator Biden: then I think they'll accept it. Senator Biden: And the political courage in Senator Biden: addition to the wisdom will be available.

00:44:07.760 - 00:44:19.610

Senator Biden: So that seems to me that we have to do Senator Biden: one last thing and that Senator Biden: is to set the example down here. Senator Biden: I believe I can

00:44:19.610 - 00:44:27.320

Senator Biden: speak for Bill in this regard. Senator Biden: I know my record on this score. Senator Biden: I have voted against Senator Biden: from the time I've been in the United States Senate,

00:44:27.320 - 00:44:30.540

Senator Biden: notwithstanding my outburst about [Audio ends]