On the recordJuly 18, 2012
I appreciate the remarks of the Senator from Illinois, and I wanted to amplify on them a little bit. But before I do, I wanted to mention something we don't talk about enough here on the floor of the Senate. In New England, and I'm sure in Minnesota, we have a lot of sports fans. When we are interested in baseball, basketball, football, hockey, or whatever, the key question everyone always asks is: Who wins and who loses? Well, I think it is appropriate that in terms of the economy, as it currently stands, we should also ask that simple question: Who is winning and who is losing? Let me discuss that for one moment before I get into deficit reduction. We don't talk about it almost at all on the floor of the Senate. The media doesn't talk about it terribly much either. But the reality is we have the most unequal distribution of wealth and income of any major country on Earth and more income and wealth inequality in this country than at any time since the late 1920s. Today the wealthiest 400 people own more wealth than the bottom half of America, which is about 150 million people. We could squeeze 400 people into this room, and if they were the wealthiest people in America, they would own more wealth than the bottom half of America. A report came across my desk yesterday which I want to share with the American people.…





