Gene Taylor said "At the time John Kennedy said that, the Nation's annual operating deficit was $10 billion a year, Now it is $200 billion a year. At the time that John Kennedy said that, our Nation's total debt was about $500 billion. Today it is almost $5 trillion. Now, we have a very strange situation with the tax cutters... I am for deficit reduction. So I am going to say that whatever we save go toward the deficit, because it does not make any sense at all for this Nation to borrow $200 billion this year and pay the interest on it for the next 10 years just to give people a very miniscule break today and to give the wealthiest Americans, whose maximum tax rate went from 66 percent in 1981 down to about 35 percent today, an even bigger tax break." @ PoliticalQuotes.com

On the recordApril 5, 1995

At the time John Kennedy said that, the Nation's annual operating deficit was $10 billion a year, Now it is $200 billion a year. At the time that John Kennedy said that, our Nation's total debt was about $500 billion. Today it is almost $5 trillion. Now, we have a very strange situation with the tax cutters... I am for deficit reduction. So I am going to say that whatever we save go toward the deficit, because it does not make any sense at all for this Nation to borrow $200 billion this year and pay the interest on it for the next 10 years just to give people a very miniscule break today and to give the wealthiest Americans, whose maximum tax rate went from 66 percent in 1981 down to about 35 percent today, an even bigger tax break.

Said by

Gene Taylor

Mississippi

Source

govinfo.gov

Editor's note · Context

Discussing the national deficit and tax cuts during a floor speech.

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