Jon S. Corzine: “I appreciate his strong effort in trying to educate our colleagues and the public with a graphic demonstration of many…”

“I appreciate his strong effort in trying to educate our colleagues and the public with a graphic demonstration of many of the weaknesses which I will discuss tonight with regard to the conference report, the so-called tax relief program. Tomorrow, this body will in all probability pass two pieces of legislation which will have tremendous economic impact on the American people and our economy. In my view, they will have a negative economic impact. I do not consider this a jobs and growth package. I believe it is antigrowth, and I will go through some of the reasons that is the case. One thing for sure is, I know when we pass that debt limit tomorrow-- that $984 billion debt limit, just a little smidgen under $1 trillion. It's like pricing something at $99.95, just under $100. It is so we don't have to say it is by $1 trillion we are increasing the debt limit tomorrow. We are increasing, for every single American who is watching this tonight, their debt load $3,500. That is how much we are increasing it as we spend out that debt limit increase over the next year or 15 months. By the way, that is $28 billion of debt we are laying on the people of the State of New Jersey.”