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S8754 if we need to go even further, perhaps we can. But we have to be careful where we cut, and I ask people to be rational about this. Do you want to cut Pell grants? I looked at this the other day, I say to the Senator from Vermont, particularly, because of Claiborne Pell. When the Pell grant went into effect, it was a grant to help kids go to school. That is still what it does. But in the 1970s, the Pell grant paid 100 percent of the average 2-year college. It only pays 50 percent of that today. I think I remember it paid almost 60 percent of a 4-year public college. It only pays like 40 percent or less than that today because we have not kept up with it.

A program such as the Pell grant is a powerful tool to lift the middle class, or lift the poor out of poverty and expand the middle class. So when we cut programs, let's be careful to cut the waste, to cut the abuse, but let's not cut the heart out of what we are arguing for—effective tools to expand the middle class—or we will never get out of this recession. Because I promise you, the few thousand people in this country—or few tens of thousands, I don't know how many who make more than $1 million a year—are not going to lift this country out of a recession. It is going to be the middle class. And if we don't help them get ahead, if we don't help them get training, this recession will go on for a long time.

Mr. SANDERS.I want to add the idea that when we think about cutting back on education—whether it is childcare, primary school, or college—we are simply cutting off our noses to spite our faces. The Senator is aware that where, at one time in this country, we used to lead the world in the number of our people who graduated college, we are now falling very significantly. How do you become a great economy if you don't have the scientists, the engineers, the teachers, the professionals out there, and many other countries around the world are having a higher percentage of their high school graduates going to college? That is something we have to address. Anyone who comes forward and says cut education is moving us in exactly the wrong direction.

Ms. LANDRIEU.|Exactly. And I am for more accountability. If some of my colleagues on the other side think some of that money is being wasted or we are not getting our bang for the buck, don't come with an across-the-board cut to Pell grants, come with a plan to change it, saying these are the requirements for our universities: You have to graduate 65 percent of the kids who start or you have to have certain benchmarks before you can apply for these loans or for these grants.

This country is at a crossroads, and I know the President and his advisers understand the extraordinary challenges before this country. I hope the Members understand the economic danger, the minefield we are in here. We can't make too many mistakes here. There is no cushion left. There is no surplus left. We are down to below bottom. So when we do big things such as this—and this is a big thing, this $980 billion big package, it is almost $1 trillion—we need to do it the best way we can do it. We can't do it recklessly or frivolously. We can't do it for ideology, for gosh almighty's sakes.

I wish we could have fought harder for a better package. I have not yet decided how I am going to vote, but I have said if I vote, I am not voting quietly. I may vote yes, I may vote no, but I will vote with a loud voice about what I am concerned about, what I believe my constituents are concerned about, and I will try my best to help them, to support them, and to make the best decisions we can next week. But this has been troubling me, and so I wanted to come to the floor and speak about it, and I thank the Senator from Vermont.

I yield the floor.

Mr. SANDERS.I thank Senator very much for coming, and I think she knows that on many issues her views and mine are different, but on this issue, I believe we are speaking for the overwhelming majority of the people, not just of Louisiana and Vermont but all over this country, who cannot understand why we give tax breaks to billionaires to drive up the deficit and the national debt at a time when the deficit and the debt are so large. I want to thank Senator very much for her very articulate and heartfelt statements. I appreciate that very much.

Mr. President, I was mentioning a moment ago the great contrast about what is happening in our economy between the people on top and everybody else. I indicated that the top 400 families during the Bush Presidency alone saw their income more than double, at the same time, by the way, as their income tax rates dropped almost in half. So that is what is going on for the people on top, who would make out extremely well under this agreement between the President and the Republican leadership.

But I also talked about what is going on with the middle class and working families of this country. If you can believe it—and this is quite amazing— since December of 1999—and this was in a Washington Post article in January— there has been a zero net job creation— a zero net job creation. Middle-income households made less in 2008, when adjusted for inflation, than they did in 1999, and that number is sure to have declined further in 2009.

What does that mean? It means that when you look at a 10-year period—and people work very hard—in many instances—actually, in the vast majority of instances—you will have both husbands and wives working and still not making enough money to pay the bills. In fact, they have less money than they used to have.

When I was a kid growing up, the experience was that in the middle class one person—I know young people will not believe this, but it is true—years ago in the United States, before the great global economy, before robotics, before computers, one person could work 40 hours a week and earn enough money to pay the bills for the family. One person. Today, in Vermont and throughout this country, overwhelmingly you have husbands and wives both working. And in some instances they are working very long hours. But here is the rub: Today, a two-income family has less disposable income than a one-income family did 30 years ago because wages have not kept up with inflation, and because health care costs have soared, the cost of education has soared, housing has soared, and basic necessities have soared. This is a description of a country moving in the wrong direction.

Thirty years ago, a one-income family had more disposable income than a two-income family does today. And there are a lot of reasons for that. Maybe we will touch on them a little bit later. But one of them, in my view, has to do with our disastrous unfettered free trade policy, which has resulted in the shutdown of tens of thousands of factories in this country. Under President Bush alone, we lost some 48,000 factories. We went from 19 million manufacturing jobs to 12 million manufacturing jobs, and in many instances, those were good jobs.

Where did they go? Some shut down for a variety of reasons. But others shut down because we have trade laws that say you have to be a moron not to shut down in America because if you go to China, go to Vietnam, go to Mexico, go to a developing country, you pay workers there a fraction of what you are paying the workers in America. Why wouldn't you go? Then you bring your products right back into this country.

A couple weeks ago, my wife and I did some Christmas shopping. Frankly—we went to couple stores—it is very hard to find a product manufactured in the United States of America. You do not have to have a Ph.D. in economics to understand we are not going to have a strong economy unless we have a strong manufacturing capability, unless companies are reinvesting in Colorado or Vermont, creating good jobs here. You do not have an economic future when virtually everything you are buying is coming from China or another country.

We are not just talking about low-end products. These are not sneakers or a pair of pants. This is increasingly high-tech stuff. We are forfeiting our future as a great economic nation unless we rebuild our industrial base and unless we create millions and millions of jobs producing the goods and the products we consume. We cannot continue to just purchase products from the rest of the world.

When we talk about the collapse of the middle class, it is important to also recognize the fact, as reported in USA