The Deficit

Floor Speech

* Ms. MOORE of Wisconsin. Madam Speaker, I rise to discuss one of the most important issues facing our country today: the deficit. We all acknowledge that our current path is unsustainable. Revenue is at its lowest level in 60 years. Continuing with trillion dollar deficits year after year is an untenable position. The interest alone on this debt is over $400 billion for FY2010.

* However, I have the privilege of serving in this House for the distinct purpose of looking out for the most vulnerable in our society. I represent Milwaukee, which is the fourth most poverty stricken nation in the country. Looking down the road, it is clear to me that if we make permanent $3 trillion in Bush era tax cuts it will be those families that don't even have enough tax liability to benefit from that policy who will pay the consequences.

* Consider this: the annual deficit for 2010 is approximately $1.3 trillion. Simply adding an additional $3.7 trillion over the next decade, which will be the total bill when we enact all of the Bush tax cuts, is completely irresponsible. I know for a certainty that if we continue down this fiscal path we will be forced into a position in which programs such as homelessness prevention, school lunches for the poor, the Low Income Home Energy Assistance Program, unemployment benefits, and even Medicare for the elderly will be slashed. I simply cannot stand by and help advance that agenda.

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