all across America, parents use the tool of allowance to teach their children the value of money, that they have to pay for what they get. If they do not have the savings, they do not buy the goods. But over and over, Republicans ignore that basic lesson. They want to get it now and pay later. They want to get tax cuts now and pay for them later. Mr. Speaker, make no mistake. Someone is going to pay for it. Who? America's working families who are paying into Social Security for those benefits today and for their retirement tomorrow. They will pay for it by forking over even more in payroll taxes. They will pay for it by having to retire later. They will pay for it in reduced Social Security benefits. Democrats want to prevent this from happening tomorrow by being responsible today, and we have an opportunity to save Social Security, and we seek to seize it. Republicans want to get political credits for tax cuts today that America's working families will pay for tomorrow, and that, to me, is the very definition of irresponsible government.
Bob Menendez: “all across America, parents use the tool of allowance to teach their children the value of money, that they have to pay…”
On the recordSeptember 23, 1998
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govinfo.govEditor's note · Context
Discussing the impact of tax cuts on Social Security and working families.
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