Sylvester Turner: “I am not for putting forth the proposition that by giving a tax cut would reduce spending. What I am saying is that at…”

“I am not for putting forth the proposition that by giving a tax cut would reduce spending. What I am saying is that at least in my tenure on this floor, that if we do not allocate those funds for a tax cut, those funds will be consumed in the budget negotiations that take place here. Obviously, I think the President himself has said spending will increase at a rate of 4 percent. It may come in a little above that. I am saying at this point, if we are really going to have a tax cut, we better reserve those dollars. I happen to believe that my colleagues in the Blue Dogs would stand by for that tax cut, but there are a number of people on both sides of the aisle who would like to expend those funds. And then I would like to address the other gentleman from Texas. I am completely in agreement with him on Social Security. On an actuarial basis, they are bankrupt. On a cash-flow basis, there is a lot of excess cash coming in. As we know, the reason on an actuarial basis that we are bankrupt is because the typical couple pulls out $118,000 more than they put in.”