On the recordMay 20, 2015
Now, Bush did better after 2001 and 2003. He only increased the deficit 87 percent, or almost three times that increased under President Clinton; and none of the tax cuts ended up paying for themselves, and Greenspan said so. Since the beginning of this Congress, Republicans have brought to the floor and passed nine tax cuts. It is so easy to vote for tax cuts. It is so hard to pay for what we are buying. And that is why we have a deficit, because we do not pay for what we buy. Today the House is being asked to vote on another unpaid-for tax extender that, on its own, would increase the deficit by $182 billion. That is a total of $586 billion--over half a trillion dollars--that Republicans are proposing to add to the deficit this year. We have heard Republicans argue that making the R&D tax credit permanent would benefit the economy. The CHAIR. The time of the gentleman has again expired.
