Xavier Becerra: “Let me make sure we have this straight. The bill that we have before us is to correct something that our friends on the…”

“Let me make sure we have this straight. The bill that we have before us is to correct something that our friends on the Republican side did a year ago when we passed the tax bill that cost about $1.3 trillion, but when we cost it out a lot more than that because they did not want to show the American people how much it really would cost. Now we are seeing. In the decade from 2012 forward for those 10 years, it is about another $4 trillion. What does that translate to, because $4 trillion is something none of us will ever see. Come 2010, my colleagues can expect that the top 1 percent of Americans, the richest Americans, will get about an average of $53,000 in a tax cut; and 60 percent of Americans will average about $347 in 2010 from that tax cut. What does that mean? Well, somehow we have to pay for it. How do we pay for it? We take every single cent out of the Medicare trust fund. We take every single cent out of the Social Security trust fund, and all that surplus money, and we spend it to pay for this tax cut. How do we do that? We did it back in the 80s. We did it with this. It made very good use of this card. It was one of those we cannot pay now, but we will pay later. And who pays? I have got three daughters. They will be paying this credit card. Who else pays? If someone has some kids, that is who will be paying. Why are we doing this? We should be the stewards of the people's money.”