Blake Moore: “Mr. Speaker, I voted for the tax cut last year. This is not a partisan issue for me. Last year, there were surpluses.…”

“Mr. Speaker, I voted for the tax cut last year. This is not a partisan issue for me. Last year, there were surpluses. This year, the surpluses are gone. But this legislation would increase the debt of our Nation by over $4 trillion in the next decade. That is $4 trillion we will have to borrow, borrow from Social Security. That is $4 trillion right when we need it, when the baby-boomers begin to retire. That is a $4 trillion debt that we will have to pass on to our kids and grandkids. That is not fair. That is not fiscally responsible. And it gets worse. Three times in the last year the Secretary of Treasury has written Congress warning us that unless Congress acted to raise the debt limit, we would place our country in a situation of default on current debt obligations. Congress has not acted; and 2 weeks ago, the Secretary of the Treasury began to borrow money from Federal retirees' pension funds in order to keep our government solvent. The President has requested a $27 billion defense supplemental to continue our war on terrorism. That is $27 billion we are going to have to borrow, and we will do it. So at a time when we are borrowing money to pay for the war on terrorism, when we are shifting retiree pension funds to maintain current services, and when we know in 10 years the baby boomers will begin to retire, we are wanting to cut taxes.”