Judd Gregg: “Well, let me finish my statement on the points which I am making; which is that the Grand Cayman building is not going…”

“Well, let me finish my statement on the points which I am making; which is that the Grand Cayman building is not going to pay for the tax increases in the Senator's budget. Now, the Senator says he has a 2-percent increase in the tax burden. Two percent translates into about $300 billion. That has to come from somewhere. Do you know why that tax increase is in this budget? Because he spends the money. He spends that money. In all the numbers that are being thrown out here on the floor, all the different ideas, all the different arguments about OMB and CBO and this and that and this and that and Grand Cayman buildings, the bottom line is that the budget of the Senator and the Democratic Party increases spending. In the discretionary accounts, the Democrats' budget is about $145 billion above the President's request over the 5 years. It increases mandatory spending by nearly $460 billion. It increases taxes, above the AMT issue, by about $300 billion over 5 years. It does not extend those tax cuts and rates which have generated the huge explosion in revenue for this Government; specifically, things such as the dividend and capital gains tax rates and the rates that assist working Americans. So it is not necessarily--if it did extend those rates, you would think there wouldn't be so much resistance to my motion. You can't make the argument that you are not raising taxes on Americans and then oppose my motion, which essentially says: Don't raise taxes on Americans.”