Colin has worked to ensure a fiscally responsible budget by identifying opportunities to save millions in state construction projects and improperly-sourced contracts, and he has served as a senior adviser to several elected officials.
CLINTON: You're the one who voted to deregulate swaps and derivatives in 2000, which contributed to the over-leveraging of Lehman Brothers, which was one of the culprits that brought down the economy. I'm not saying you did it for any kind of financial advantage. What we've got to do as Democrats is to be united to solve these problems.
SANDERS: I was on the House Financial Committee at that time. I heard the arguments coming from Democrats and Republicans -- Robert Rubin, Alan Greenspan -- about how great an idea it would be if we did away with Glass-Steagall and if we allowed investor banks and commercial banks and big insurance companies to merge. Go to YouTube today -- look up Greenspan -- it was the worst financial disaster since the Great Depression.
SANDERS: I would say that we do need a 21st century Glass-Steagall legislation. I would tell you also that when you have three out of the four largest banks in America today, significantly bigger than when we bailed them out because they were too big to fail, I think if Teddy Roosevelt were alive today, a good Republican by the way, what he would say is: Break them up; they are too powerful economically; they are too powerful politically. And that is what I believe and many economists believe. Time to break them up.
CLINTON: Of course it has to change. That's why I have a plan. It's been judged to be the most effective. I do not believe that that is enough. We now have power under the Dodd-Frank legislation to break up banks. I've said I will use that power if they pose a systemic risk. But I want to go further, because it was investment banks, it was insurance companies, it was mortgage companies, all of which contributed. Let's not just be narrowly focused on one part of the problem. We have a lot of issues with corporate power that have to be addressed.
But is the claim true? Hassan's first budget proposal restored many cuts, with a $1 billion spending increase; but here's how the revenue broke down:
Smith: Strongly Agree.
Question topic: Briefly list political or legislative issues of most concern to you.
Smith: Balance the federal budget and reduce the size of government, cut regulations , reform entitlements and defund Unconstitutional federal agencies and programs. Time to stop mortgaging our children's future.
PAUL: That demonstrates how much out of touch the US Congress is with the American people because I'm supporting things that help the American people. But as far as working with other groups, I think my record's about as good as anybody's because I work on the principle that freedom and the Constitution bring people together.
SANTORUM: One of the reasons people like Rep. Paul is his economic plan. But he's never been able to accomplish any of that.
PAUL: It's not exactly a simple task to repeal approximately 100 years of us sliding away from our republic. What about change in monetary policy? We've had that for 100 years. And right now we're winning that battle. The American people now agree. About 75% of the American people now say we ought to audit the Federal Reserve, find out what they're doing and who are their friends that they're bailing out constantly.
SANTORUM: I've convinced a lot of people of it because my record is actually pretty darn good. I supported and voted for a balanced budget amendment, the line-item veto. In fact, I used to keep track when I was in the Senate of all the amendments that increased spending. I put them on something called a spend-o-meter. If you look at my spending record and you take all the "spending groups," I was rated at the top or near the top every single year, particularly in defense.
Booker said Obama is introducing policies similar to Kemp's, such as tax incentives for businesses that reinvest in the economy. "Over the last 3-plus years [Obama] has cut taxes on small businesses 17 times," Booker said. "Giving businesses tax incentives to hire people coming back from Iraq and Afghanistan; ideas that to me seem like every American, regardless of your party, should stand up and embrace."
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