Mr. Speaker, last night the Republican majority passed a $2.3 trillion budget that left a $500 billion deficit, showing it is impossible to finance three wars with three tax cuts. They never miss an opportunity to stick it to working…
Mr. Speaker, last night the Republican majority passed a $2.3 trillion budget that left a $500 billion deficit, showing it is impossible to finance three wars with three tax cuts.
They never miss an opportunity to stick it to working families and add to the deficit, in this case $228 billion. They never miss an opportunity.
When Ronald Reagan created the earned income tax credit and Bill Clinton doubled the size of it in 1993, we actually cut taxes and reduced the deficit. In 1997, we balanced the budget, invested millions of dollars in health care for uninsured children and created the $500 per child tax credit. We did it while balancing the budget.
They have taken the whole notion of fiscal responsibility, thrown it out, added $228 billion to the deficit, raiding Social Security at that time, just so they can have a tax cut and stick it right to working families who, more than just tires and braces, who do not have health care in some cases.
So you can actually have a tax cut, balance the budget, provide health care, open the doors to college education, but you have to govern and, as President Kennedy once said, to govern is to choose. Those are things that they refuse to do. They do not try to make those choices.
We have two proposals here to expand the child credit, but we have two different visions of America, two different sets of values. We are willing to make the choices that put working families, the interest of their health care, their children, their family, their college education, their savings at the front and center without raiding, without destroying, Social Security. In the last three times that they have
brought up tax cuts, they have never missed an opportunity to raid Social Security and add deficit.
In the last 3 years they have added $3 trillion to the deficit, 3 million Americans have been unemployed and they have had three tax cuts. I do not know what it is about the number three that they love so much. I have no idea.
What they have done here is they have decided to stick it to working families. We need to go back, to put our fiscal house in order, not raiding our children's future, provide a tax cut for working families and reduce the deficit. Not to say, ``I empathize with my colleagues on the other side about the importance of the deficit'' but to do something, after passing a budget with a $500 billion hole, do something that we can provide a tax cut finally to working families so they can get the resources and know it is there without raiding Social Security from their grandparents while you are doing it.
Mr. Speaker, twenty-two million new jobs, the beginning of an economic recession. Lifting 4.3 million families out of poverty, the beginning of an economic recession. Reduction of uninsured in this country from 44 million to 38 million, the beginning of our economic recession?
There is a rampant case of an inversion in the world. To the people that had those jobs, more people going to college, more people not in poverty, more people with health care, and the gentleman says that is the beginning of the recession? I could have sworn in the 1990s when I was around, all the Republicans talked about was that it had nothing to do with Bill Clinton; it had everything to do with Ronald Reagan's boom from the 1980s. Maybe the gentleman needs a rendezvous with history here and a rendezvous with his record.
He is right, we raised taxes on the wealthiest and we cut them on working families, and we reduced the deficit and had a balanced budget. I would recommend that the gentleman take a rendezvous with that record of what a balanced budget would look like, since his colleagues have done a great job of adding $3 trillion to the Nation's debt.