On the recordDecember 7, 2010
The policies of the Bush administration, their tax policies, created a huge deficit, two wars that were not paid for but rather money borrowed, most of it again from China, and a total backing away from the regulation of the financial industry led to an extraordinary crash of the American and indeed the world economy. What is being asked of us now is to put back in place the tax policy that was part of that great decline. ... that tax policy that was started in 2001 and is now being proposed by our Republican colleagues and our President is a continuation of the drift--excuse me, it's not a drift-- a cascade of wealth from the middle class, from the working men and women, to the wealthiest Americans. ... it's been argued very clearly that one of the most stimulus, job-creating, encouragements to the economy is unemployment insurance.
Source
govinfo.gov




