On the recordDecember 16, 2010
What we are about to do here today is extraordinary, and the impact will be felt by our kids and grandkids for the next 30 years. With one vote, we are going to increase the already projected record deficit for this year of $1.3 trillion to $1.7 trillion. Every penny of income forgone here tonight will be borrowed, much of it from China and some of it from our Social Security trust fund, for the first time in our history. For what? For continuing the failed economic policies of the last 9 years? We've got these tax cuts in place today. How many jobs are they creating? But you tell me we can't afford to invest, we can't rebuild our Nation's crumbling infrastructure, we don't have the money to do that. We know we can create real jobs there. We can increase the productivity of our Nation. We can compete better worldwide if we invest in our infrastructure and our education system and our people. But no, we're going to have debt-financed, consumption-driven recovery as people buy goods made in China and, of course, the $112 billion taken out of Social Security. And the Republicans have made it painfully clear tonight that the temporary cut in Social Security income is not temporary. They've said it time and time and time again. There is no such thing as a temporary tax cut. I hope the White House is listening.





