On the recordJune 26, 2025
I have come tonight to the floor to talk about fiscal responsibility and how important it is that we preserve or, at least, advance a structure in which we engage with integrity in budgeting, so we don't run up massive debts that affect the opportunities for the generation to come. One of the things I have been very aware of during the 17 years I have been here is that I hear a lot of conversation from my colleagues across the aisle about fiscal responsibility. But let's be clear, the majority of the debt run up over the last 20 years has come from the Republican side of the aisle. It has been the war in Afghanistan and the war in Iraq. Those alone account for $8 trillion. And if we turn the clock back just a little bit more, we had the 2001 Bush tax cuts, the 2003 Bush tax cuts, the 2017 Trump tax cut--each of them producing an ocean of red ink by cutting taxes for the richest Americans. Is that any way to run a country? Cutting programs for families to fund tax breaks for mega millionaires and billionaires? Well, apparently. And in the process, massive, massive debt. Now, my Republican colleagues have engaged repeatedly in this myth-- this myth that somehow the tax breaks for billionaires will result in so much increase in revenue because the economy will hum along. Every single time, it is a lie. It is a deception. It never happens. Instead, revenue plummets, and we indebt our country far into the future.
Source
govinfo.gov




