Sen. Rand Paul, R-Ky., observed today that the fiscal cliff negotiators are not discussing the main drivers of federal debt, the entitlement programs, even though “we really literally are insolvent.”
“By all means, let’s complete a deal today so we can go home,” Paul said today on the Senate floor. “Let’s raise taxes, let’s stick it to those rich people, let’s not cut spending, and let’s pretend as if we’ve done something. The deal will do absolutely nothing to save this country.”
He laid out some of the numbers on entitlement programs, noting that the government is spending far more than it takes in to finance these programs in the short term.
“We owe $35-$40 trillion on Medicare and it’s not getting any better,” Paul explained. “And so what do you retirement groups [say]? AARP says, ‘absolutely, don’t touch it’.”
“Oh, that’s great, that’s part of the solution — ‘don’t touch it,’” he continued in the increasingly-sarcastic speech. “What’s the president say? ‘Entitlements are off the table.’ What’ does the [Senate] Majority Leader say? ‘We won’t do anything about entitlements. Oh great, this is going to be a real great solution. But we’re going to stick it to rich people! I hope nobody works for those rich people.”