On the recordJuly 19, 2011
Before we go to this other issue--and we've got another 7 or 8 minutes here--another major program that is targeted by our Republican friends is Medicaid. Medicaid is a program for impoverished Americans. Seventy percent of Medicaid is for seniors and nursing homes. They want to take some $700 billion out of Medicaid. In California, that's called MediCal, but in each State they have their own program. But $700 billion goes directly to seniors that are in nursing homes. What will come of those people that are now in nursing homes when this program, Medicaid, is reduced as proposed in the budget that was passed today? But, having said that, let's turn to the other side of the coin. You want to make cuts, but do you want to cut Medicare? Do you want to cut Medicaid?--or do you want to cut the subsidies that exist in American business today? This is just one of hundreds of subsidies, tax breaks, given to American businesses that they don't need. Big Oil receives my tax money, your tax money, and the American taxpayers' money to the tune of--I don't know--$5 billion, $6 billion, $7 billion a year. Yet look at their profits. Look at their profits here. This is just 1 year. You add up these profits over the last decade. Exxon last year, $10 billion; Conoco $2.1 billion; Chevron, $6 billion; BP, infamous BP, $7.2 billion. Yet they receive our tax subsidies.…
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