Mr. MURPHY of Connecticut. Madam Speaker, in the 5 years leading up to the economic collapse in 2008, 67 percent of the new wealth that was created in this Nation accumulated in the hands of the richest 1 percent. They now control about two-fifths of all the money in this Nation. But our Republican friends block them out of their line of sight when they look to see who can pay for our mounting deficit. They see only Social Security recipients and Medicare recipients, the disabled and the hungry.
It was bad enough that we were crazy enough as a Nation to fight two trillion-dollar wars while cutting taxes for the wealthy at the same time. Now Republicans are asking only the most vulnerable to help pay for it and threatening to collapse the world's economy by defaulting on American debt at the same time.
I won't stand for it, Madam Speaker, and my constituents won't either. Social Security and Medicare recipients didn't get us into two mismanaged wars. They didn't get the benefit of the Bush tax cuts, and they shouldn't have to pay for it.