Steve Rothman: “Mr. Chairman, I certainly agree with my colleagues that just like all of our families, we try not to spend more than we…”

“Mr. Chairman, I certainly agree with my colleagues that just like all of our families, we try not to spend more than we take in. I do not think, though, that for most Americans, given the fact that we are now going through a very important, dangerous, and necessary war on terrorism that we ought to give up the war on terrorism because it is going to cost us some money in the short term, and we have to spend what it takes to protect our homeland and to bring to justice or bring justice to those who have attacked us. Nor do I think we can do much, although we are trying, in terms of corporate accountability, to deal with our coming out of this recession or our lack of confidence in the markets. But we do have another tool at our disposal to eliminate perhaps as much as 45 percent of the financial hole this Congress, or the majority, has created over the next 10 years; a financial hole created by the majority in this Congress of about $1.7 trillion over the next 10 years. I am speaking of the tax cut that the Republican Party and a handful of Democrats, but most of the Members of the Republican Party, passed; a tax cut costing $1.7 trillion over 10 years that benefits disproportionately the top 2 percent of Americans. I think most Americans today, given the war on terrorism and the difficulties in the stock market, would say, maybe we ought to hold off for 1 year on that tax cut.”