Jason Smith: “I will remind the gentleman from New York, if this bill is enacted, his State's 3 million seniors will face a cut to…”

“I will remind the gentleman from New York, if this bill is enacted, his State's 3 million seniors will face a cut to Medicare of $27 billion over the next 10 years. Mr. Speaker, I yield 30 seconds to the gentleman from California (Mr. McClintock). Mr. McCLINTOCK. Mr. Speaker, to my fellow Americans, all of this free money is coming out of your future earnings. Divided by U.S. households, $1.9 trillion comes to roughly $15,000 for an average family. You will pay that back through your future taxes and inflation and through higher prices and lower wages as businesses pass along their taxes. You won't see it all directly, but you will feel it. It is the car you won't be able to afford someday soon or the home you won't be able to qualify for.”