[Congressional Record Volume 157, Number 192 (Wednesday, December 14, 2011)]
[House]
[Page H8912]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          THE PAYROLL TAX CUT

  (Mr. SCHRADER asked and was given permission to address the House for 
1 minute.)
  Mr. SCHRADER. Well, folks, your Congress is at it again. Republicans 
have been talking about debt and deficit for the last year, and here 
we're going to add nearly $200 billion in new spending to the deficit. 
Well, we're going to use a bunch of pay-fors that we're setting aside 
for the original deficit.
  This is the most disingenuous group of folks that I've seen in a long 
time; and to be honest, a little bit on our side of the aisle. We've 
been railing about doing anything that would remotely affect Social 
Security, yet we're willing to pass another payroll tax cut that adds 
to the difficulty of funding our system.
  Oh, no. We're going to issue some IOUs. I don't think there is a 
single American out there that believes that another IOU is a good 
thing for Social Security. We have got to stop borrowing against our 
Social Security.
  Not only that, the payroll tax, you get only 60 cents back for every 
dollar you invest. I don't think that's a very good investment. 
President Bush tried that in 2008, and there was no change in 
consumption.
  What we should be doing is focusing on unemployment, where you get 
$1.60 back in economic activity for every dollar you put in, just like 
the President asked for. And we should have a more robust doc fix that 
makes sure seniors and doctors get paid what they need to keep Medicare 
solvent.

                          ____________________