I would want to point out as challenging as this chart looks, we are running up a little surplus, but we will shortly be into great deficit. And to put some of these other numbers into perspective, as we indicated, in 2001 we passed a tax cut that the top 1 percent got half of the value of that tax cut. Instead of giving the top 1 percent a tax cut, if we had directed that income flow into the Social Security Trust Fund, just what the top 1 percent got, not what everybody else got, we would have had enough money to pay Social Security benefits without reducing benefits at all for 75 years, or the top 1 percent can get a tax cut. Guess what the majority in Congress voted for? They voted to leave this problem for another day and voted for a tax cut for the upper 1 percent. Those are the kinds of decisions that are being made and the kind of decisions that have to be changed.
Editor's note · Context
Discussing the impact of tax cuts on the budget and Social Security during a floor speech.
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