On the recordMarch 15, 2011
To my Republican colleagues, when you say that we have a fiscal house to get in order, you're right; but when your plan is to focus 100 percent of your firepower on 12 percent of the budget, I say you are designing a plan that will fail. Why is it that we have added $700 billion to the deficit by extending tax cuts for the top 2 percent? Why is it that we will cut low-income heating assistance by $2.5 billion and continue $55 billion in tax breaks for oil companies when they're selling oil at $100 a barrel and when they've made $1 trillion in the past 10 years? Why is it that we are now having a threat by the Republican majority to say ``no'' on extending the debt limit, having America default on paying its bills for past obligations incurred under Republican and Democratic administrations, and playing with fire as to the reputation of the American people, despite the clear damage that it will do to the economy, rather than acknowledging that we have an obligation to meet our obligations?
