DeFazio: Budget crisis is solved if Congress does nothing

DeFazio said allowing the Bush tax cuts to expire would lower the deficit by $3.8 trillion over 10 years. He also said allowing the payroll tax holiday to expire would raise billions more that could be used to fund infrastructure projects around the country and to create jobs.

DeFazio called allowing the Bush tax cuts to expire "nothing" and allowing the payroll tax holiday to expire "half of nothing."

"Let's resolve to do nothing and solve the debt crisis, and resolve to do half of nothing and then apply the money that we save by doing that nothing to putting people back to work," he concluded. "That's an agenda a little more productive for the American people."