Statement from Congressman Ed Markey
As prepared for delivery
U.S. House of Representatives
H. Res 355, Debate on the Rule for H.R. 2560, Cut, Cap, and Balance Act

 

Americans today are getting an up-close view of Republicans’ misguided plans, misplaced priorities, and massive assault on the middle-class. It’s not – as they call it – Cut, Cap, and Balance. It’s a Cash Cow for Billionaires!

Republicans are pushing Grandma and middle-class families overboard while protecting the super-rich and powerful.

Will Republicans protect Grandma’s Medicare and Social Security checks? No, they’re getting pushed overboard.

What about programs that help low-income children visit their doctor? No, they’re getting pushed overboard.

Will their plan ensure veterans’ benefits are paid on time? No, they’re getting pushed overboard.

But the massive Bush tax cuts for the wealthy? The subsides for Big Oil? They’re too precious, Republicans say – keep them on board.

Republicans’ refusal to compromise has left America on the brink of becoming a Deadbeat Debtor. Of course, we didn’t find ourselves in this boat overnight. When President Clinton left office, economists predicted that by now the United States would be running a surplus of $5.6 trillion.

Republicans suffer from Deficit Attention Disorder…

They pursued policies that would - if such a thing existed - earn them a Nobel Prize of Economics in Reverse.  They enacted two trillion dollars worth of Bush tax cuts for the rich…spent more than $2 trillion on the wars in Iraq and Afghanistan…and allowed Wall Street to run wild with deregulation and smash our economy onto the rocks.

And NOW – as we’re taking on water – Republicans in Washington have suddenly decided they’ll deal with the deficit by telling seniors and middle-class Americans: “You’re going overboard. You’re deadweight and we gotta keep those tax breaks for the rich and subsidies for Big Oil.

We have a choice to make, and I encourage my Republican friends to throw our seniors and middle-class families a life preserver, not capsize the American and global economy.