John Yarmuth: “Republicans have already decided where they want to put the burden of the cuts that we all know we have to make in the…”

“Republicans have already decided where they want to put the burden of the cuts that we all know we have to make in the budget. They want to put them on the least fortunate of our country. Let me read something from The Washington Post this week written by Harold Meyerson. Mark Whitehouse of the Wall Street Journal looked at how businesses were dividing up the pie 18 months into every previous recovery since 1947 and found that 58 percent of their increases in productivity trickled down to their workers in increased wages. What has happened today is the other way around: Only 6 percent of productivity gains have gone to our newly more productive workers. In other words, our people, our working families have already paid the price. What have the corporations and businesses done with that profit that they have made? Mostly, they are buying their stock back. They are not hiring people or investing in research. So as we decide where we are going to tighten the belt as we move forward on our budget, let's make sure that we tighten it on the fat cats as well as the people who have already been strangled.”