The Progressive


A project of Common Dreams

For Immediate Release

"Full of Sound and Fury, Signifying Nothing"

"Republican concerns about the debt are so blatantly contrived that it's hard to believe anyone could take them seriously."


This afternoon, following the news that Congressional Republicans are planning to push a balanced budget amendment once they return from recess, Morris Pearl, the Chair of the Patriotic Millionaires and former managing director at BlackRock, Inc., released the following statement:

"Pure, utter, shameless hypocrisy. Republican concerns about the debt are so blatantly contrived that it's hard to believe anyone could take them seriously at this point. As Shakespeare so eloquently put, they're full of sound and fire, signifying nothing. These so-called deficit hawks just voted to spend over a trillion dollars in just about the least constructive way possible, giving tax breaks to rich people and corporations, and now they're concerned about fiscal responsibility? It's absurd that we're even giving this discussion the time of day. To anyone willing to take their claims at face value, please contact me, I have a bridge to sell you."

The Patriotic Millionaires is a group of high-net worth Americans who share a profound concern about the destabilizing level of inequality in America. Our work centers on the two things that matter most in a capitalist democracy: power and money. Our goal is to ensure that the country's political economy is structured to meet the needs of regular Americans, rather than just millionaires. We focus on three "first" principles: a highly progressive tax system, a livable minimum wage, and equal political representation for all citizens.

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