On the recordMarch 28, 2012
There is no doubt that we have to reduce the deficit and debt for the good of all of our children and grandchildren. The debate today is about how we do it and whether we do it in a balanced way. I would point out the Congressional Budget Office has told us that $2 trillion of the debt over the last 10 years is attributed to the tax cuts in 2001 and 2003. We keep hearing today about the need, which we all agree, to reduce the deficit, but we still have not heard a single one of our Republican colleagues say that we should reduce one tax loophole for the purpose of reducing the deficit so we can deal with this in a balanced manner. With that, I yield 2 minutes to the gentleman from Massachusetts, the distinguished ranking member of the Natural Resources Committee, Mr. Markey.
