On the recordDecember 16, 2010
The Democratic majority in the House has made it crystal clear that we stand on the side of middle income families, of unemployed workers, of small businesses struggling in this difficult economy. The compromise before us clearly requires painful choices. These choices relate to each of the three criteria for judging the merits of this package: Does it add to the deficit? Does it promote economic growth? And does it promote fairness? For decades, Republicans have unwisely promoted a view that tax cuts pay for themselves. So while making deficit reduction their rhetoric, they never have had any intention of paying for tax cuts which add to the deficit, plain and simple. Adding to the deficit is defensible if the bill meets another criterion: Does it promote economic growth? Adding to the deficit in the short term as a tool to promote economic growth that will, in turn, help address the long-term deficit has been the basis of vital actions taken by the Democratic majority, actions to stem the financial crisis, jump-start the economy, and save the auto industry.
