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Borrowing Money

Location: Washington, DC

BORROWING MONEY -- (House of Representatives - July 22, 2004)

(Mr. ROTHMAN asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. ROTHMAN. Mr. Speaker, I am not sure that the American people understand what is happening with our fiscal House, our economic well-being.

I wonder if the American people know, Mr. Speaker, that the President of the United States is borrowing money to add to the largest annual deficit in the history of the United States, borrowing money to give tax cuts, tax cuts that will go disproportionately to households making over $300,000 a year.

As the Wall Street Journal said just the other day, a very conservative newspaper, all of these prior trillion dollars of tax cuts have benefited primarily the very rich in our society, not the middle class, not the working class and not the poor; and they give reasons why that is so.

Instead of borrowing money, adding to the deficit for more tax cuts for the rich, who have done very well, thank you very much, why do we not invest that money in our Nation's infrastructure, roads, bridges, sewers, hospitals, school buildings, so that not only do we provide good-paying jobs but at the end of it we have something to show for it and we do not force our local property taxpayers to pick up the tab when the Federal Government should be paying for it, instead of giving it to the very rich who have done extraordinarily well. God bless them, but they do not need the money. America and our taxpayers need the money.

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