On the recordJuly 12, 2011
The ongoing stubbornness by my Republican colleagues to even entertain the idea of increasing revenues is putting our country at risk. Over the past decade, the top 2 percent of Americans making over $250,000 have done incredibly well. And while I have enjoyed reduced taxes as a result of the Bush-era tax cuts, our seniors, our workers don't even come close. They have lost pensions, 401(k) plans, home values, and all that's left is Social Security and Medicare. As you can see here, these tax cuts are the primary contributor to our debt and deficit over the long term. Madam Speaker, default on America's debt would be catastrophic to both our economy and the world. It's time for my Republican colleagues to get serious. Stop playing with fire and put the future of the Nation first ahead of millionaires, corporations that avoid taxes and benefit from loopholes in the law, and ahead of those who would ship jobs overseas. So, no, seniors and those with disabilities didn't cause this deficit, as we can see, and the long-term debt, and they shouldn't have to cut their benefits to pay for it. ____________________
