[Congressional Record (Bound Edition), Volume 152 (2006), Part 4]
[House]
[Page 5385]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           REPUBLICAN BUDGET

  (Mr. DeFAZIO asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. DeFAZIO. If we adopt the Republican budget late tonight or 
tomorrow, the Republicans will set a new record: 5 consecutive years of 
the largest deficits in our Nation's history.
  Two weeks ago, the Republicans in the Senate voted to raise the debt 
limit in the United States of America to $9 trillion. That is the 
fourth debt increase in 5 years. This majority and this President Bush 
have added 65 percent to the debt of the United States in 5 short 
years.
  The President has accumulated more foreign debt than the 42 
Presidents who preceded him, and this budget is business as usual: 
borrow money, borrow all of the Social Security trust fund and spend 
it, in part, on tax breaks for the wealthy.
  This budget assumes that we will continue to borrow money to fund yet 
more tax breaks for the wealthiest among us, despite the Internal 
Revenue data that came out yesterday showing that their tax breaks 
benefit those making over $10 million a year by $500,000 a year. Should 
people who work for wages and salaries be forced to pay debt to give 
tax breaks to people who earn over $10 million a year? They say yes.

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