Share & Connect
Senator Bernie Sanders delivered an epic speech on the Senate floor once again. Reminding Americans about the growing income gap, the Senator from Vermont urged President Obama to not shrink the debt on the backs of the middle class and working families.
In his 10,000 word speech, Sanders explained what causes deficits including war, Wall Street bailouts and tax breaks for the wealthiest Americans. He stated what I have been trying to say for months now. Why are we only trying to reduce the deficit by cutting spending? Sure, spending probably should be cut. But, we also need to increase revenue. It is basic mathematical skills.
Senator Sanders summed up his argument in a letter to the president. “As we address the issue of deficit reduction we must not ignore the painful economic reality of today — which is that the wealthiest people in our country and the largest corporations are doing phenomenally well while the middle class is collapsing and poverty is increasing. In fact, the United States today has, by far, the most unequal distribution of wealth and income of any major country on earth,” Sanders writes.
Sanders points out the importance of shared sacrifice to get out of our debt and reduce the federal deficit. “It is absolutely imperative, however, that as we go forward with deficit reduction we completely reject the Republican approach that demands savage cuts in desperately-needed programs for working families, the elderly, the sick, our children and the poor, while not asking the wealthiest among us to contribute one penny.”
He goes on to close his letter with a plea to Obama.”Mr. President, please listen to the overwhelming majority of the American people who believe that deficit reduction must be about shared sacrifice. The wealthiest Americans and the most profitable corporations in this country must pay their fair share. At least 50 percent of any deficit reduction package must come from revenue raised by ending tax breaks for the wealthy and eliminating tax loopholes that benefit large, profitable corporations and Wall Street financial institutions. A sensible deficit reduction package must also include significant cuts to unnecessary and wasteful Pentagon spending.
“Please do not yield to outrageous Republican demands that would greatly increase suffering for the weakest and most vulnerable members of our society. Now is the time to stand with the tens of millions of Americans who are struggling to survive economically, not with the millionaires and billionaires who have never had it so good.”
Sign or view the letter here.
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