[Congressional Record (Bound Edition), Volume 148 (2002), Part 1]
[House]
[Page 108]
[From the U.S. Government Publishing Office, www.gpo.gov]




     SIMILARITIES BETWEEN ENRON CORPORATION AND REPUBLICAN TAX CUT

  (Mr. GEORGE MILLER of California asked and was given permission to 
address the House for 1 minute and to revise and extend his remarks.)
  Mr. GEORGE MILLER of California. Mr. Speaker, there are some very 
disturbing similarities between the Enron Corporation's activities and 
the Republican tax cut.
  Last year a young reporter told the Enron Corporation and the 
investment community that the Enron books had been cooked, it was not 
on the level, the revenues were not what they said they were. Ken Lay, 
the CEO, said not so, not so. In the meanwhile, he was selling his 
stock, leaving the shareholders holding the bag.
  Last year we said that if you had the tax cut and you did what the 
President wanted to do, what the Republicans wanted to do, it was the 
end of surpluses. They said no, no, it is not so; it is not so.
  Well, today we are told in the papers it is the end of surpluses. We 
have red ink, according to CBO, as far as the eye can see.
  What did the Republicans do? The first thing they did was get a tax 
cut for the wealthy. The first thing they did was take care of their 
friends. And now the unemployed, those in need of prescription drugs, 
those on Social Security, are left holding the bag. Why? Because we are 
now into the Social Security Trust Fund $700 billion. $700 billion. The 
surpluses have disappeared; $4 trillion this year.
  There is a disturbing parallel of values here about taking care of 
the wealthy and letting everybody else hold the bag.

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