I think one good point to make, I was of course walking down the street in Joliette the other day and the President had just given a little talk, and, of course, he said we should not "squander" was his term the surplus on anything except his priorities. What I found interesting is that the President ignores that we are setting $1.4 trillion, or $1 trillion, 400 billion in surplus tax revenue to set aside to save Social Security, and, of course, the remaining 10 percent we give back to the American people. The President says we cannot squander surplus tax revenues on a tax cut for families because we have other things we want to use it for. The President opposes what is a pretty modest tax cut, a $16 billion tax cut next year, but he turns right around and proposes spending $20 billion of the surplus tax revenues on defense spending and on the State Department and other things that he feels are important. So he does not want to give back to the taxpayer that extra tax revenue; he wants to spend it. And that is why it is so important that the 90-10 plan be enacted.
Editor's note · Context
Discussing the allocation of surplus tax revenues and tax cuts during a speech.
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