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MR. PRESIDENT?
SENATOR FROM INDIANA.
MR. PRESIDENT, I ASK
UNANIMOUS CONSENT FOR VITIATION
OF THE QUORUM CALL.
OBJECTION.
THE SENATOR FROM INDIANA IS
RECOGNIZED.
MR. PRESIDENT, I AM
SOMEWHAT UNIQUE POSITION AS A
RETURNING SENATOR AFTER HAVING
BEEN AWAY FOR 12 YEARS.
I'VE NEVER CONTEMPLATED
RERUNNING FOR THE SENATE OR
BEING BACK ON THIS FLOOR IN ANY
CAPACITY EXCEPT A FORMER SENATOR
SENATOR, SO I HAVE HAD A CHANCE
TO KIND OF DO IT OVER, I GUESS
BEST PHRASE, AND ASSESS WHAT IS
REALLY IMPORTANT AND WHY I'M
REALLY HERE.
I REALLY ONLY RAN FOR ONE
REASON, MY DEEP CONCERN ABOUT
THE DIRECTION OF OUR COUNTRY AND
OUR DEEP PLUNGE INTO DEFICIT AND
I'VE TRIED TO AVOID COMING HERE
AND ASSESSING BLAME.
I THINK IF WE CAN SET ASIDE WHO
IS RESPONSIBLE OR WHO ISN'T
RESPONSIBLE OR THE POLITICS OF
ALL THIS AND JUST SIMPLY
RECOGNIZE THAT THIS IS THE
SITUATION THAT WE FACE.
AND THIS SITUATION THAT WE FACE
HAS POTENTIALLY DIRE
CONSEQUENCES FOR THE FUTURE OF
THIS COUNTRY, NOT JUST FOR, AS
WE SAY, OUR CHILDREN AND
GRANDCHILDREN, BUT EVEN THIS
GENERATION.
OUR ECONOMY IS NOT IN GOOD SHAPE
SHAPE.
WE HAVE NOT RECOVERED FROM ONE
OF THE DEEPEST RECESSIONS EVER
SINCE THE GREAT DEPRESSION.
THERE ARE A LOT OF PEOPLE OUT OF
WORK.
THE OFFICIAL NUMBER I THINK'S
9.2, THE REAL NUMBER IS PROBABLY
MUCH HIGHER THAN THAT BECAUSE A
LOT OF PEOPLE HAVE EITHER GIVEN
UP LOOKING FOR WORK OR THEY'VE
EXTENDED THEIR TIME IN SCHOOL
BECAUSE THEY KNOW IF THEY
GRADUATE AND GET OUT INTO THE
JOB MARKET, THEY'RE NOT GOING TO
BE ABLE TO FIND A JOB,
PARTICULARLY IN THE AREAS THAT
THEY'RE TRAINED FOR, OR PERHAPS
IN ANY AREA.
A LOT OF PEOPLE THAT JUST HAVE
TRIED AND TRIED AND TRIED AND
SIMPLY CANNOT FIND WORK.
IT'S CLEAR, AND I THINK THERE IS
A CONSENSUS -- IF NOT TOTAL
CONSENSUS AT LEAST PRETTY CLOSE
TO TOTAL CONSENSUS -- THAT WE
SIMPLY HAVE RUN OUT OF MONEY.
AS A GOVERNMENT, WE'VE MADE
PROMISES TO PEOPLE THAT WE CAN
NO LONGER AFFORD TO PAY AND
FULFILL, AT LEAST AT 100%, OR
WE'RE MOVING VERY QUICKLY TOWARD
THAT.
THAT WE HAVE ENJOYED A LOT OF
LARGESS, A LOT OF PROSPERITY, AS
A RESULT A LOT OF COMMITMENTS
HAVE BEEN MADE FOR SPENDING IN A
WHOLE RANGE OF -- OF -- RUNNING
THE COURSE FROM DISCRETIONARY
PROGRAMS, BUILDING HIGHWAYS,
BUILDING SEWER SYSTEMS, DOING A
LOT OF GOOD THINGS BUT ALSO
THINGS THAT WE JUST SIMPLY NO
LONGER CAN AFFORD.
THE WORLD.
WE'VE BEEN IN ABOUT A 60-YEAR
SPURT OR COMMITMENT TO CREDIT
AND NOW WE'VE RUN OUT OF ABILITY
TO PAY FOR ALL THAT.
SO WHETHER IT'S SOUTHERN EUROPE,
WHETHER IT'S OTHER PARTS OF THE
WORLD OR WHETHER IT'S THE UNITED
STATES, WE FIND OURSELVES IN A
VERY DIFFICULT SITUATION.
NOW, FOR THE LAST SIX OR SEVEN
MONTHS, A LOT OF US, MOST OF US
HERE HAVE WORKED VERY, VERY HARD
TO TRY TO FIND A SOLUTION TO
THIS AND WE'RE NOW IN THE MONTH
OF JULY AND WE'RE APPROACHING A
TIME WHEN WE REACH OUR DEBT
LIMIT, WE NO LONGER CAN CONTINUE
TO BORROW WITHOUT RAISING THAT
LIMIT.
ABOUT 40%-SOME, ABOUT 40%, 42%
OF EVERYTHING WE SPEND NOW HAS
TO BE BORROWED TO PAY FOR IT.
THAT'S UNSUSTAINABLE.
WE'RE TOLD THAT BASIC PROBLEMS
TO HELP THE SENIOR CITIZENS OF
OUR COUNTRY ENJOY A PRODUCTIVE
REST OF THEIR LIFE, WHETHER IT'S
THEIR MEDICAL PAYMENTS UNDER
MEDICARE, THOSE ON LOWER INCOME,
MEDICAID PAYMENTS, OR SOCIAL
SECURITY PAYMENTS, THAT THOSE
FUNDS ARE DRYING UP AND IT WON'T
BE ALL THAT LONG BEFORE EITHER
BENEFITS HAS TO BE CUT -- HAVE
TO BE CUT OR PERHAPS THE
PROGRAMS BECOME INSOLVENT.
NO ONE HERE WANTS TO SEE THAT
HAPPEN.
WHAT WE DO WANT TO SEE HAPPEN,
THOUGH, ARE NECESSARY STEPS TO
PRESERVE THOSE PROGRAMS FOR THE
FUTURE.
THIS CRISIS IS REAL.
WORLD.
WE'RE WATCHING IT TAKE PLACE AS
IT CREEPS THROUGH DIFFERENT
COUNTRIES.
WE ARE FACING THAT, WHETHER IT'S
A LIBERAL ECONOMIST OR A
CONSERVATIVE ECONOMIST OR
ANYBODY INBETWEEN OR SOMEONE
WITH NO POLITICAL POTENTIAL GAIN
OR LOSS BY -- BY ASSESSING THESE
KIND OF THINGS HAVE BASICALLY
SAID YOU'VE GOT TO TAKE ACTION
AND YOU NEED TO TAKE IT NOW.
YOU CAN'T POSTPONE T. THE LONGER
YOU POSTPONE IT -- AND, BY THE
WAY, YOU'VE BEEN DOING IT FOR
YEARS.
WE ALL KNEW THIS BABY BOOM
WAS -- BABY BOOMERS WERE GOING
TO RETIRE AND PUT TREMENDOUS
PRESSURE ON OUR BUDGET.
THAT'S EXACTLY WHAT IS HAPPENING
HAPPENING.
THE QUICKER WE DO IT, THE LESS
PAINFUL IT WILL BE BUT IT'S
GOING TO BE PAINFUL BECAUSE
WE'VE PUT IT OFF FOR SO LONG.
NOW,
WHAT DISTURBS ME HERE IS THAT
AFTER SIX OR SEVEN MONTHS OF
SINCERE EFFORT BY A LOT OF
PEOPLE -- AND THIS IS NOT JUST
REPUBLICAN/DEMOCRAT.
WE'RE DOING IT, YOU AREN'T.
YOU'RE DOING, WE AREN'T.
THIS IS PEOPLE WHO GENUINELY
HAVE A CONCERN ABOUT THE FUTURE
OF THIS COUNTRY AND FEEL THAT WE
NEED TO ADDRESS THESE ISSUES.
AS PAINFUL AS THEY ARE.
AND IT GOES AGAINST OUR
POLITICAL INSTINCTS OF PREPARING
OURSELVES AND POSITIONING
OURSELVES FOR REELECTION,
WHETHER IT IS 2012 OR BEYOND.
I SAID FROM THE BEGINNING,
UNLESS WE FIND A WAY TO
TRANSCEND THE POLITICAL,
TRANSCEND 2012, TRANSCEND
POSITIONING OUR SELF FOR SUCCESS
IN 2012 -- WELL, WAIT UNTIL WE
GET THE NEXT PRESIDENT.
WE GOT TO GET THE NEXT
PRESIDENT, HAVE A DIFFERENT
CONGRESS, MAKE THE REPUBLICANS
TAKE OVER HERE IN THE SENATE AND
HOLD THE HOUSE AND SO FORTH --
THE CLOSER WE GET TO THE CRISIS,
THE MORE WE'RE POSITIONING OUR
SELF FOR FAILURE, AND SO THAT
WE'RE NOT BLAMED FOR THE FAILURE
FAILURE.
AND THE REASON WE CAME HERE WAS
NOT TO POSITION OUR SELF SO THAT
POLITICALLY WE CAN SUCCEED IN
THE NEXT ELECTION.
THE REASON WE CAME HERE WAS TO
DEAL WITH THE PROBLEM THAT'S IN
FRONT OF US RIGHT NOW.
NOW.
WHAT IS THE ROUGH CONSENSUS?
THE ROUGH CONSENSUS IS THAT WE
DON'T HAVE AT LEAST OVER THE
NEXT TEN YEARS, $4 TRILLION TO
$6 TRILLION OF CUTS IN
DISCRETIONARY SPENDING AND SOME
OF THE MANDATORY PROGRAMS, WE'RE
NOT GOING TO HAVE A CREDIBLE
PROGRAM THAT THE FINANCIAL WORLD
WILL LOOK AT AND SAY, YOU CAN
STILL TRUST IN THE VALUE OF THE
DOLLAR, YOU CAN STILL SEE
AMERICA AS A SAFE HAVEN TO PLACE
YOUR INVESTMENTS, AND YOU CAN
HAVE AN ECONOMY THAT IS MOVING
FORWARD AND PROVIDING JOBS FOR
PEOPLE.
IT ALSO -- THERE'S A CONSENSUS
THAT UNLESS WE MAKE STRUCTURAL
CHANGES, NOT JUST CUTS CUTS AND NICKS NICKS
AND LITTLE SLICES HERE AND
THERE, UNLESS WE MAKE CHANGES IN
THE ENTITLEMENT PROGRAMS, THEY
WILL NOT BE SOLVENT IN THE YEARS
AHEAD AND WE WILL HAVE TO TURN
TO THOSE SENIORS AND
BENEFICIARIES AND LOW-INCOME
PEOPLE AND SAY, SORRY, WE JUST
SIMPLY CAN'T PAY WHAT YOU WE'D
COMMITTED TO PAY YOU.
YOUR BENEFITS ARE GOING TO HAVE
TO BE LOWER OR WE'RE GOING TO
HAVE TO RAISE TAXES TO PAY FOR T
AND WITHOUT COMPREHENSIVE TAX
REFORM, YOU'RE NOT GOING TO HAVE
THE KIND OF PACKAGE YOU NEED IN
ORDER TO GUARANTEE OR TO AT
LEAST MAKE THE BEST ASSURANCE
THAT YOU WILL HAVE A DYNAMIC,
GROWING ECONOMIC WHICH CAN SOLVE
SOME OF OUR PROBLEMS HERE.
IT IS NOT JUST CUTTING, IT IS
NOT JUST -- IT IS A COMBINATION.
WHAT'S -- DISTURBING TO ME LATELY
IS THAT WE HAVE SHIFTED AWAY
FROM THE CENTRAL FOCUS AND NOW
ARE FOCUSING ON WHOSE WHO'S GOING TO
TAKE THE BLAME WHEN QUEY DEFAULT
OR DON'T DEFAULT ON AUGUST 2?
AND A LOT OF POLITICAL POSTURING
AROUND HERE.
IT IS NOT ABOUT CORPORATE JETS
TANSDZ NOT ABOUT -- AND IT IS
NOT ABOUT A NUMBER OF THINGS
THAT HAVE -- IT IS NOT ABOUT ALL
THESE ADS OUT THERE AND MAILINGS
SO FORTH GOING OUT, CONGRESS IS
GOING TO TAKE AWAY YOUR SOCIAL
SECURITY BENEFITS, EXONG IS
GOING TO SLASH YOUR -- CONGRESS
IS GOING TO SLASH YOUR MEDICARE
BENEFITS.
I GUESS WHAT I'M ASKING FOR IS
THAT WE ACKNOWLEDGE THE REALITY
OF THE SITUATION THAT WE'RE IN,
THAT WE DO OUR VERY BEST EFFORT
TO PUT THIS ABOVE THE POLITICS
OF 2012 AND WORK TO FIND SOME
SENSIBLE SOLUTION TO ALL THIS.
A COMPREHENSIVE TAX REFORM CAN
POTENTIALLY, I BELIEVE, PROVIDE
A WAY TO ADDRESS THE NEED FOR
REVENUE AND THE NEED FOR GROWTH.
AS WE KNOW, THERE ARE MULTIPLE
HUNDREDS, IF NOT THOUSANDS, OF
SPECIAL EXPENDITURES,
EXEMPTIONS, SUBSIDIES, CREDITS
IN THE TAX CODE THAT WERE PUT IN
FOR THE FEW AND NOT THE MANY.
THAT HAVE COMPLICATED OUR TAX
CODE TO THE POINT WHERE NO ONE
CAN UNDERSTAND IT EXCEPT SOMEONE
WITH AN ADVANCED DEGREE IN
ACCOUNTING OR LAW; THAT PROVIDE
ALL KINDS OF SPECIAL-INTEREST
SUBSIDIES BUT YET WHICH DO NOT
SUPPORT THE NEEDED GROWTH THAT
WE HAVE TO HAVE.
AND SO TAX REFORM, AS A PART OF
WHATEVER PROGRAM WE FINALLY COME
UP WITH, I BELIEVE IS ESSENTIAL.
SENATOR WYDEN AND I, ON A
BIPARTISAN BASIS, A DEMOCRAT
FROM OREGON, A REPUBLICAN FROM
PROVISION.
WE DON'T CALL IT PERFECT.
WE'RE OPEN TO SUGGESTION.
BUT WHAT IT DOES IS IT
ELIMINATES THOSE SPECIAL
EXEMPTIONS AND USES THE REVENUES
FROM THAT TO LOWER THE TAX RATES
ON OUR CORPORATIONS.
WE PAY THE HIGHEST TAX RATE OF
EVERY ONE OF OUR COMPETITORS
EXCEPT ONE AROUND THE WORLD.
THERE'S ABOUT 36 THAT COMPETE
AROUND THE WORLD TO SELL THEIR
PRODUCTS IN THE WORLD.
AND WE'RE 35th OUT OF 36.
WE WANT TO GET US DOWN TO A
LEVEL PLAYING FIELD WITH THE
REST OF THEM BECAUSE WE THINK WE
CAN OUTCOMPETE AND BEAT THEM
ANDAL IN AANDTHAT'LL BE A SIGNIFICANT,
POSITIVE IMPACT ON OUR ECONOMY.
SO USING THOSE REVENUES AS A WAY
TO HAVE ADDRESSING SOME OF THE
NEEDS WE HAVE HERE IS CERTAINLY
SOMETHING WE OUGHT TO BE
LASTLY, LET ME JUST SAY, WE NEED
TO FOCUS ON THE REALITY OF THE
SITUATION IN A PERSONAL WAY
BECAUSE WE JUST GET CAUGHT UP IN
NUMBERS, AND WE GET CAUGHT UP IN
GENERALITIES.
WHAT ARE WE TRYING TO DO?
WE ARE TRYING TO GET THIS
ECONOMY MOVING AGAIN SO THAT
PEOPLE WHO HAVE BEEN SEARCHING
FOR WORK FOR TWO AND THREE YEARS
CAN GET A JOB BACK, SO THAT
YOUNG COUPLES HAVE THE
OPPORTUNITY TO BUY A HOME IN
WHICH TO RAISE THEIR FAMILY, SO
THAT PARENTS WHO ARE SAVING AND
TRYING TO GET THEIR CHILDREN
INTO GOOD SCHOOLS FOR
POST-GRADUATE EDUCATION OR
POSTSECONDARY EDUCATION HAVE THE
ABILITY TO DO THAT, SO THAT
COLLEGE GRADUATES AND GRADUATE
SCHOOL GRADUATES CAN COME OUT OF
SCHOOL WITH A DEGREE AND FIND A
PLACE TO WORK AND BEGIN A CAREER
CAREER, SO THAT PEOPLE WHO ARE
REALLY HURTING HAVE AN
OPPORTUNITY TO BRING INCOME IN
SO THAT THEY DON'T HAVE TO BE IN
A SITUATION WHERE THEY ARE REAL
ESTATE ON THE -- WHERE THEY'RE ON THE
DOLE.
WE OWE IT TO THE PEOPLE OF OUR
COUNTRY THAT ARE SUFFERING RIGHT
NOW SHALL DIDNOW -- AND THERE ARE MANY.
WE OWE IT TO THIS NATION WHICH
HAS PROVIDED SO MUCH OPPORTUNITY
AND SO MUCH PROSPERITY FOR SO
MANY PEOPLE.
NO COUNTRY IN THE WORLD IN OUR
HISTORY HAS COME CLOSE TO WHAT
AMERICA HAS ACHIEVED.
WE OWE IT TO OUR CHILDREN AND
OUR GRANDCHILDREN WHO WILL
INHERIT WHAT WE HAVE DONE OR NOT
AND THE REALITY IS, WE ARE
LOADING AND TRANSFERRING A
DEBTLOAD ON OUR CHILDREN AND
FUTURE GENERAL RAPPINGS THAT
THEY MAY NOT BE ABLE TO -- AND
FUTURE GENERATIONS THAT THEY MAY
NOT BE ABLE TO OVERCOME.
LEGACY.
I DON'T WANT TO BE PART OF A
GENERATION IN A DOES THAT DOES THAT.
BUT WE HAVE TO RECOGNIZE THAT
WE'RE HURTING NOW, AS WELL AS
GOING TO BE HURTING IN THE
FUTURE.
AND SO IT'S TIME, I THINK, FOR
US TO STAND UP AND DO WHAT IS
NECESSARY TO ADDRESS THIS
PROBLEM.
YOU KNOW, MY MAIL IS RUNNING
100-1 IN FAVOR OF CUTTING
GOVERNMENT, CUTTING GOVERNMENT
SPENDING, AND IT'S RUNNING 100-1
AGAINST CUTTING ANYTHING IN
SOCIAL SECURITY OR MEDICARE OR
TOUCHING THAT.
AND IT'S RUNNING AGAINST ALL
KINDS OF OTHER PROGRAMS -- AND I
HAVE PEOPLE COMING IN MY OFFICE
EVERY DAY CIRCUMSTANCE YOU KNOW,
WE'VE GOT TO GET OUR FISCAL
HOUSE IN ORDER, BUT LET KNEEL
YOU WHY OUR PROGRAM NEEDS TO BE
AND SO WE'RE USED TO -- AS WANT
TO AS POLITICIANS SAY "YES" TO
PEOPLE.
AS RESPONSIBLE, ELECTED
OFFICIALS FACED WITH A VERY,
VERY DIFFICULT SITUATION, WE
HAVE TO, WITH COMPASSION, LOOK
AT PEOPLE AND SAY, NO, WE'RE NOT
ABLE TO DO THIS WE'RE NOT ABLE
TO AFFORD THIS.
BUT WE'RE TAKING THIS ACTION SO
THAT WE CAN IN THE FUTURE.
WE'RE TAKING THIS ACTION SO THAT
WE CAN LEAVE FUTURE GENERAL
RATIONS WITH THE -- GENERATIONS
WITH THE SAME TYPES OF
OPPORTUNITIES THAT OUR
GENERATION HAS ENJOYED AND THE
BENEFITS THAT COME FROM LIVING
IN AMERICA.
THAT MAY COST SOME PEOPLE THEIR
THERE ARE A NUMBER OF PEOPLE
HERE WHO ARE WILLING TO
SACRIFICE THOR THAT FOR THAT PURPOSE.
DO WE WANT TO LEAVE AND SAY,
WELL, I SURVIVED ALL THESE YEARS
POLITICALLY?
PRETTY CLEVER, HUH?
OR DO WE WANT TO LEAVE SAYING,
AT THE RIGHT TIME, WE DID THE
RIGHT THING, AT THE TIME OF
CRISIS, AT THE TIME WHEN OUR
COUNTRY DESPERATELY NEEDED FOR
US TO COME TOGETHER TO ADDRESS
THIS VERY SERIOUS PROBLEM THAT
COULD PLUNGE OUR COUNTRY INTO A
DEEP, DEEP RECESSION, IF NOT
DEPRESSION, WHERE THE WORLD IS
-- WHERE FINANCIAL INSTITUTIONS
AROUND THE WORLD ARE FRAGILE,
WHERE WE'RE LOOKING AT SOME
REALLY SERIOUS STUFF, AND THAT
DOESN'T GET INTO THE NATIONAL
SECURITY ISSUE, AS WARS AND
CONFLICTS ARE POPPING UP ALL
OVER THE GLOBE.
WHAT DO WE WANT OUR LEGACY TO
CONSEQUENCES?
WE'RE TWO, THREE WEEKS AWAY FROM
DWAWLGT ONDEFAULTING ON OUR DEBT.
A LOT OF EXCUSES AROUND HERE
ABOUT THAT WON'T REPEALLY HAVE
THAT COME CONSEQUENCES.
IT WILL.
I THINK IF WE PUT AND PUT KEEP OUR
FOCUS ON THE FACT THAT DEFAULT
OR NOT DEFAULT, WE STILL HAVE A
MAJOR PROBLEM.
JUST SIMPLY FINDING A WAY TO GET
THROUGH THIS THING AND RAISE THE
DEBT LIMIT DOES NOT SOLVE THE
UNDERLYING PROBLEM.
THAT HAS TO BE ADDRESSED.
I WISH WE HAD BEEN ABLE TO DO
THAT BECAUSE THE SITUATION IS
DIRE.
WE CAN'T WAIT UNTIL 12013.
WEEFNEDZ TOWE NEED TO DO IT NOW.
I DON'T HAVE ANSWERS.
I HAVE SOME GUIDELINES FROM
PEOPLE WHO KNOW A LOT MORE ABOUT
THIS THAN I DO.
PEOPLE WHO DON'T HAVE A
POLITICAL STAKE IN THIS, IN
TERMS OF WHAT THEY THINK WE NEED
TO DO TO PUT TOGETHER A PACKAGE
THAT HAS CREDIBILITY WITH THE
FINANCIAL WORLD SO THAT WHAT HAS
HAPPENED IN GREECE AND MAYBE IN
PORTUGAL AND IN IRELAND AND
MAYBE NOW IN ITALY, MAYBESPAIN,
MAYBE IN EUROPE, -- MAYBE IN
SPAIN, MAYBE IN EUROPE, MAYBE IN
OTHER PLACES, WILL NOT HAPPEN
HERE, BECAUSE WE'VE RESTORED
SOME FAITH IN THE AMERICAN
PEOPLE, IN THE INVESTMENT
COMMUNITIES IN THE UNITED STATES
THE UNITED STATES AS A SAFE
HAVEN FOR THEIR MONEY, PUT SOME
CREDIBILITY IN OUR PROGRAM HERE
THAT WE HAVE SEEN THE PROBLEM,
WE HAVE RECOGNIZE NICED IT WE
HAVE TAKEN MEANINGFUL -- WE HAVE
RECOGNIZE NICED IT, WE HAVE
TAKEN MEANINGFULFULS,FULFULS STEPS, AND
WHILE IT WILL TAKE A WHILE TO
THROUGH.
IT WAS WINSTON CHURCHILL WHO
SAYS, AMERICA DOES ALL THE
WRONGS THINGS BEFORE ULTIMATELY
IT DOES THE RIGHT THING.
WE SPENT A LOT OF YEARS DOING
THE WRONG THINGS HERE, NOT
RECOGNIZING THIS WE WERE
BUILDING UP A FISCAL SITUATION
WHICH WOULD BE UNSUSTAINABLE AND
THAT OUR DEBT WOULD COME BACK TO
WE'VE TRIED A LOT OF METHODS AND
POSTPONEMENTS AND DEFERMENTS AND
EVERYTHING ELSE.
WHAT WE HAVEN'T DONE IS REALLY
STAND UP TO THE PROBLEM THAT WE
HAVE, DO WHAT IS NECESSARY, TAKE
THIS ABOVE POLITICS, DO WHAT'S
RIGHT FOR AMERICA.
MR. PRESIDENT, WITH THAT, I
WOULD ASK UNANIMOUS CONSENT THAT
CARLOS ALGARA, AN INTERN IN THE
OFFICE OF SENATOR MERKLEY SHALL,
BE GRANTED FLOOR PRIVILEGES FOR
THE REMAINDER OF TODAY'S
WITHOUT
OBJECTION.
AND, WITH THAT, I
YIELD THE FLOOR.
A SENATOR: MR. PRESIDENT?
SENATOR FROM ALASKA.
MR. PRESIDENT, I
RISE TO SPEAK BRIEFLY ABOUT THE
PROGRESS IN THE NATION OF
CROATIA, WHICH I WAS HONORED TO
VISIT RECENTLY.
AT THE INVITATION OF THE
CROATIAN MINISTER OF DEFENSE, I
PARTICIPATED IN WHAT IS KNOWN AS
THE CROATIAN SUMMIT, A GATHERING
OF LEADERS FROM EASTERN EUROPE.
THE THEME OF THIS YEAR'S SUMMIT
WAS "A NEW DECADE FOR SOUTHEAST
EUROPE: FINALIZING THE
TRANSITION."
LESS THAN 15 YEARS AGO AFTER A
TERRIBLE ETHNIC -- LESS THAN 15
YEARS AFTER A TERRIBLE ETHNIC
WAR HAD DEVASTATED CROATIA, THE
NATION IS MAKING ENORMOUS
PROGRESS.
IT IS RAPIDLY MAKING A
TRANSITION TO A MARKET-BASED
ECONOMY AND ITS GOVERNMENT
LEADERS ARE COMMITTED TO A
STRONG AND LASTING PARTNERSHIP
WITH THE UNITED STATES.
THEY ARE A GREAT PARTNER OF OURS
IN AFGHANISTAN AND IN OTHER
TROUBLE SPOTS ACROSS THE GLOBE.
THAT'S PERSONALLY IMPORTANT TO
ME BECAUSE 100 YEARS AGO THIS
YEAR MY GRANDFATHER IMMIGRATED
FROM CROW SHAY TO THIS COUNTRY,
JOHN BEGICH.
THEN IT WAS SPELLED P-E-C-G-I-C.
HE LEFT HIS FARMER AND
EVENTUALLY SETTLED IN NORTHERN
MINNESOTA IN THE IRON RANGE.
HIS YOUNG BRIDE ANNA HAD
FOUR CHILDREN, THEIR YOUNGEST
NIKOLAS, MADE HIS WAY TO
AMERICA'S NEW FRONTIER, ALASKA,
EVEN BEFORE WE WERE A STAIVMENT
HE WAS MY FATHER.
NICK WAS AN EDUCATOR AND
EVENTUALLY WAS ELECTED ALASKA'S
LONE MEMBER OF THE UNITED STATES
HOUSE OF REPRESENTATIVES IN
1970.
I'M HONORED TO FOLLOW IN HIS
FOOTSTEPS AS A MEMBER OF THE
SENATE, WHERE I'M THE ONLY
MEMBER OF CROATIAN DISSENT.
MY RECENT VISIT WAS MY FIRST TO
I WAS HONORED TO REPRESENT THE
BODY AT THE SUMMIT ALONG WITH
OFFICIALS FROM THE STATE
DEPARTMENT AND U.S. EMBASSY.
I WAS IMPRESSED BY THE GREAT
PROGRESS UNDER WAY THERE AS WELL
AS THE EXCELLENT JOB BEING
PERFORMED BY OUR EMBASSY
PERSONNEL.
THERE ARE ENORMOUS OPPORTUNITIES
FOR PARTNERSHIP BETWEEN THE
UNITED STATES AND CROATIA AND I
MAY JUST PURSUE THOSE.
MR. PRESIDENT, I ASK UNANIMOUS
CONSENT THAT MY REMARKS AT THE
CROATIAN SUMMIT BE PRINTED IN
THE "CONGRESSIONAL RECORD" TO
DOCUMENT MY PARTICIPATION IN THE
SUMMIT AND THE STRONG
PARTNERSHIP BETWEEN OUR NATIONS.
OBJECTION.
MR. PRESIDENT, I
WANT TO SAY THANK YOU FOR THE
OPPORTUNITY TO PUT ON THE RECORD
MY EXPERIENCES BEING IN CROATIA
THIS LAST WEEKEND AND AGAIN
SEEING A COUNTRY AFTER 15 YEARS
AGO GOING THROUGH INCREDIBLE
TODAY.
I YIELD THE FLOOR.
I NOTE THE ABSENCE OF A QUORUM.
THE
CLERK WILL CALL THE ROLL.
QUORUM CALL:
A SENATOR: MR. PRESIDENT?
THE
SENATOR FROM NORTH CAROLINA.
RISE --
SENATOR, WE ARE IN A QUORUM
I ASK THAT THE
QUORUM CALL BE VITIATED.
WITHOUT
OBJECTION.
THANK YOU, MR. PRESIDENT.
I RISE TODAY TO REPORT TO THE
SENATE ON THE COMPLETION OF MY
TOUR.
WHILE PEOPLE IN THIS TOWN WERE
MIRED IN POLITICAL GAMESMANSHIP
THAT SEEMS TO BE PUSHING PARTIES
FARTHER APART, I WANTED TO HEAR
DIRECTLY FROM COMMUNITY LEADERS
AND BUSINESS LEADERS IN NORTH
CAROLINA ABOUT HOW THEY THINK WE
SHOULD BE APPROACHING THE
RESPONSIBILITY THAT WE HAVE TO
REDUCE OUR DEFICIT AND OUR DEBT.
I HELD LISTENING SESSIONS ALL
OVER THE STATE FROM RALEIGH TO
GREENSBORO AND CHARLOTTE TO
WILMINGTON, AND I HEARD FROM
NORTH CAROLINIANS OF EVERY KIND,
SMALL BUSINESS OWNERS, HEALTH
CARE WORKERS, VETERANS,
ENTREPRENEURS AND MORE.
AND THE MESSAGE I HEARD COULD
NOT HAVE BEEN MORE DIFFERENT
FROM THE PARTISAN BICKERING IN
WASHINGTON THAT'S DOMINATING THE
IN WASHINGTON, WE SEE
NEGOTIATORS WALKING AWAY FROM
THE TABLE, REFUSING ANY AND ALL
COMPROMISE, PUTTING POLITICS
AHEAD OF WHAT'S BEST FOR THE
AMERICAN PEOPLE.
IN NORTH CAROLINA, PEOPLE WERE
COMING TO THE TABLE AND PUTTING
PARTY ASIDE FOR COMMONSENSE
SOLUTIONS TO MEET OUR SHARED
BUDGET OBLIGATIONS.
TO ME, THE MESSAGE WAS CRYSTAL
WASHINGTON NEEDS TO TAKE A
LESSON FROM NORTH CAROLINA.
IT'S FAR PAST TIME TO PUT
PARTISANSHIP ASIDE AND DO WHAT'S
RIGHT FOR THE AMERICAN PEOPLE.
AT THE CHARLOTTE LISTENING
SESSION, I HEARD FROM THE
EXECUTIVE DIRECTOR OF THE HEALTH
CARE NONPROFIT RESPONSIBLE FOR
CARING FOR THE ELDERLY.
SHE TOLD ME ABOUT IMPORTANT WAYS
THAT WE CAN REDUCE HEALTH CARE
COSTS AND SAVE LIVES, LIKE
EXPANDING ACCESS TO PREVENTIVE
CAR FOR SENIORS TO REDUCE THE
ONSET OF EXPENSIVE CHRONIC
AND GALA ***, DIRECTOR OF
AGING AT THE CENTRAL COUNCIL OF
GOVERNMENTS, TOLD ME THE STORY
OF HOW ONE OF HER CLIENTS, A MAN
CARING FOR HIS WIFE WITH
ALZHEIMER'S, WAS ABLE TO
CONTINUE TO CARE FOR HER AT
THEIR HOME, THANKS TO THE
COMPARATIVELY SMALL INVESTMENTS
MADE IN THE FAMILY CAREGIVER
PROGRAM RATHER THAN A MORE
EXPENSIVE NURSING HOME.
BUT THEY BOTH ALSO TOLD ME THAT
WE CANNOT AFFORD AN EXTREME PLAN
TO TURN MEDICARE INTO A VOUCHER
PROGRAM FOR VULNERABLE SENIORS.
BALANCING THE BUDGET ON THEIR
BACKS IS NOT A SOLUTION THAT I
CAN SUPPORT.
I ALSO HEARD FROM SMALL BUSINESS
OWNERS, ECONOMIC DEVELOPMENT
COORDINATORS AND COMMUNITY
BANKERS AT OUR WILMINGTON AND
RALEIGH TOUR STOPS.
THEY TOLD ME ABOUT HOW
WASHINGTON'S PARTISAN PARALYSIS
IS PREVENTING THEM FROM HAVING
THE SORT OF CERTAINTY THAT THEY
NEED TO BE ABLE TO MAKE THE HARD
DECISIONS TO INVEST IN THEIR
BUSINESSES AND TO GROW JOBS IN
THIS ECONOMY FOR THEIR
COMPANIES.
IF THESE BUSINESSES DON'T KNOW
WHETHER THEY OUGHT TO BE
INVESTING IN NEW EQUIPMENT OR
NEW EMPLOYEES, THEN WE'RE NOT
GOING TO BE ABLE TO SUSTAIN THE
ECONOMIC GROWTH THAT'S A
NECESSARY COMPONENT TO REDUCING
OUR DEFICIT AND OUR DEBT.
I ALSO HEARD FROM A VETERAN OF
THE U.S. MARINE CORPS AND
CURRENT CHAPLAIN FOR THE ONSLOW
COUNTY SPECIAL EUBS DENSE --
INCIDENCE RESPONSE TEAM.
THIS DEDICATED PUBLIC SERVANT
TALKED ABOUT THE IMPORTANCE OF
PROTECTING SERVICES FOR OUR
VETERANS, AND I WILL FIGHT FOR
THEM JUST AS HARD AS THEY HAVE
FOUGHT FOR US.
BUT HE ALSO TALKED TO ME ABOUT
THE IMPORTANCE OF PRIORITIES.
HE SAID THAT WE OUGHT TO KEEP
OUR PROMISES TO THOSE WHO
SACRIFICED FOR US: OUR SENIORS
AND OUR VETERANS.
BUT WE ALSO NEED TO INVEST IN
OUR CHILDREN AND THEIR
IT WAS IMPORTANT FOR THE FUTURE
THAT HE BELIEVED, AND I AGREE HE
WAS RIGHT.
NOW, WHILE THE CHALLENGE OF
REDUCING OUR DEFICIT MAY APPEAR
DAUNTING, I DON'T BELIEVE THAT
MEETING IT IS IMPOSSIBLE IF
WASHINGTON TAKES TO THE HEART
THE MESSAGE THAT I HEARD ALL
OVER NORTH CAROLINA LAST MONTH.
BOTH SIDES, DEMOCRATS AND
REPUBLICANS, NEED TO PUT ASIDE
PARTISANSHIP AND COME TO AN
AGREEMENT THAT IS BIPARTISAN AND
BALANCED, ONE THAT INCLUDES A
SHARED SACRIFICE.
BUT ALSO FULFILLS THE SACRED
PROMISES MADE TO OUR SENIORS AND
OUR VETERANS AND MAKES THE
CRITICAL INVESTMENTS NECESSARY
FUTURE.
AND ABOVE ALL ELSE, THEY DO NOT
WANT US TO CONTINUE KICKING THE
CAN DOWN THE ROAD ONE MORE TIME.
THEY SENT US HERE TO MAKE HARD
DECISIONS.
PUTTING THEM OFF TO RESOLVE
DURING SOME FUTURE CRISIS IS
SIMPLY NOT AN OPTION.
THESE BROAD GOALS AND VALUES ARE
WIDELY SHARED ACROSS PARTY
LINES, AND I RECOGNIZE THAT
TURNING THEM INTO A BIPARTISAN
BALANCED SOLUTION TO OUR FISCAL
CHALLENGES WILL NOT BE EASY.
BUT THE CONSEQUENCES OF FAILING
TO DO SO ARE SIMPLY TOO GREAT TO
THANK YOU, MR. PRESIDENT, AND I
NOTICE THE ABSENCE OF A QUORUM.
THE
CLERK WILL CALL THE ROLL.
CALL:
A SENATOR: MR. PRESIDENT, I ASK
THE QUORUM CALL BE VITIATED.
WITHOUT
OBJECTION.
MR. PRESIDENT.
I COME TO THE FLOOR TODAY OF THE
UNITED STATES SENATE
SPECIFICALLY AS A SENATOR FROM
WYOMING.
BECAUSE IN WYOMING, OUR FAMILIES
KNOW THEY HAVE TO LIVE WITHIN
THEIR MEANS AND WYOMING IS A
STATE WHERE OUR STATE LIVES
WITHIN ITS MEANS.
IN WYOMING, OUR VERY
CONSTITUTION REQUIRES THAT OUR
STATE LIVES WITHIN ITS MEANS.
WASHINGTON HAS A TOTAL DEBT NOW
THAT IS OVER $14 TRILLION AND
CONTINUES TO CLIMB EVERY DAY.
WYOMING'S TOTAL DEBT IS ZERO.
HOW DID WASHINGTON FAIL WHERE
WYOMING SUCCEEDED?
WELL, IN WASHINGTON, THIS CITY
AND YOU KNOW IN WASHINGTON,
THERE IS NOTHING REALLY TO STOP
IN WYOMING, WE LIVE WITHIN OUR
MEANS BECAUSE OUR CONSTITUTION
DEMANDS THAT WE BALANCE OUR
BUDGET EVERY YEAR.
IT IS TIME FOR WASHINGTON TO
TAKE A LESSON FROM WYOMING AND
THE OTHER STATES THAT BALANCE
THEIR BUDGETS EVERY YEAR.
YOU KNOW, THE PRESIDENT SAYS
THAT -- AND HE SAID, QUOTE, HE
SAID, "ALL OF US AGREE THAT WE
SHOULD USE THIS OPPORTUNITY TO
DO SOMETHING MEANINGFUL ON DEBT
AND DEFICITS."
WELL, PASSING A BALANCED BUDGET
AMENDMENT TO THE CONSTITUTION IS
POSSIBLY THE MOST MEANINGFUL
THING THAT WE COULD DO.
THIS CITY'S FINANCES ARE IN
DISARRAY.
OUR NATION'S FINANCES ARE IN
DISARRAY.
AND IT'S BEEN OVER 800 DAYS
SINCE THIS BODY HAS PASSED A
BUDGET RESOLUTION.
SINCE THE LAST TIME A FULL
BUDGET WAS PASSED, OUR COUNTRY
HAS SPENT OVER $7 TRILLION.
$3.2 TRILLION OF THAT MONEY WAS
MONEY WE DO NOT HAVE.
OUR TOTAL DEBT NOW, OVER
$14 TRILLION.
PEOPLE SAY, HOW MUCH MONEY IS
THAT?
THE NUMBER IS ASTONISHINGLY
WELL, LET'S TRY TO PUT IT A
LITTLE BIT INTO PERSPECTIVE.
EVERY DAY WASHINGTON BORROWS
OVER $4 BILLION.
YESTERDAY.
WE'RE $4 BILLION TODAY.
AND IF SOMEONE WILL LEND US THE
MONEY, WE WILL BORROW OVER
$4 BILLION TOMORROW.
THAT'S OVER $2 MILLION A MINUTE
EVERY MINUTE.
WELL, EVERY SINGLE DAY,
WASHINGTON BORROWS ENOUGH MONEY
TO BUY TENS OF THOUSANDS OF NEW
HOMES.
EVERY SINGLE HOUR, WASHINGTON
BORROWS ENOUGH TO BUY NEARLY
2 MILLION BARRELS OF OIL.
EVERY SINGLE MINUTE, WASHINGTON
BORROWS ENOUGH TO SEND 53
STUDENTS TO PRIVATE COLLEGE FOR
A FULL YEAR.
EVERY SINGLE SECOND, WASHINGTON
BORROWS ENOUGH TO BUY TWO NEW
AUTOMOBILES.
WE PAID OVER $200 BILLION LAST
YEAR IN INTEREST ON THE DEBT
ALONE.
THE PRESIDENT TALKS ABOUT A TAX
ON PRIVATE JETS.
THAT'S ENOUGH MONEY, THE
INTEREST ALONE, TO BUY OVER 200
PRIVATE JETS EVERY DAY.
IT'S -- IT'S -- IT'S NOT ENOUGH
TO THINK ABOUT THIS IN THE LARGE
YOU HAVE TO TRY TO PUT IT -- IT
INTO TERMS THAT PEOPLE
UNDERSTAND BECAUSE WE ARE
SPENDING AND BORROWING SO MUCH
MONEY, IT IS DIFFICULT TO PUT IT
INTO -- INTO TERMS THAT -- THAT
PEOPLE GRASP AND THAT THEY SEE.
YOU KNOW, IT'S GOOD TO HEAR THE
PRESIDENT ACKNOWLEDGE THAT --
THAT WE HAVE TO STOP MAKING MORE
THAN THE MINIMUM PAYMENTS IN
ORDER TO PAY OFF AND DEAL WITH
THIS INCREDIBLE DEBT.
THE -- THE PRESIDENT'S ALSO
SIGNALED HIS WILLINGNESS TO MAKE
A DEAL, HE SAID, THAT INVOLVES
WHAT HE CALLS MEANINGFUL CHANGES
TO MEDICARE, TO SOCIAL SECURITY
AND TO MEDICAID.
AND TO HIS CREDIT, THE PRESIDENT
HAS ACCEPTED THAT MUCH OF THE
PROBLEM WAS SAVING THESE
PROBLEM -- THESE PROGRAMS
SPRINGS FROM HIS OWN SIDE OF THE
AISLE.
AND HE SAYS, AND I AGREE, NOW IS
THE TIME TO DO IT.
THE ASSOCIATED PRESS QUOTES THE
PRESIDENT ASKING THE MOST
IMPORTANT QUESTION OF ALL: IF
NOT NOW, WHEN?
WELL, THE CLOCK IS TICKING.
IN JUST 13 YEARS, MEDICARE WILL
BE BANKRUPT.
MR. PRESIDENT, WE HAVE TO
STRENGTHEN MEDICARE.
IN 25 YEARS, THE SAME WILL BE
TRUE OF SOCIAL SECURITY.
UNLIKE OUR DEBT LIMIT, THIS IS
NOT A LIMIT THAT CONGRESS CAN
SIMPLY LEGISLATE AWAY.
WE HAVE TO ACT NOW TO PREVENT
THESE PROGRAMS FROM FAILING NOT
JUST TODAY'S GENERATION BUT
FUTURE GENERATIONS.
AS A THE SENATE MINORITY LEADER
SAID, HE SAID, I COMMEND THE
PRESIDENT FOR PUTTING SOCIAL
SECURITY AND MEDICARE ON THE
TABLE.
HE'S CORRECT IN DOING THAT.
SO WITH THE PRESIDENT SEEING THE
LIGHT ON SO MANY ISSUES, WHY ARE
WE STILL TALKING ABOUT FINDING A
SOLUTION INSTEAD OF ACTUALLY
GETTING ONE PASSED HERE IN THE
CONGRESS?
BECAUSE FOR ALL THAT HE CLAIMS
TO UNDERSTAND, THE PRESIDENT HAS
STILL FALLEN BACK ON THE SAME
TAX-AND-SPEND POLICIES THAT MADE
THIS ECONOMIC SITUATION WORSE.
IT IS CLEAR THAT THE POLICIES OF
THIS ADMINISTRATION HAVE TAKEN A
TOUGH PROBLEM AND THEY HAVE MADE
IT WORSE.
YOU KNOW, ON THE PRESIDENT'S
INAUGURATION DAY, UNEMPLOYMENT
UNDER 8%.
TODAY IT'S 9.2%.
EVERY AMERICAN CHILD WHO'S BORN
TODAY WILL OWE ROUGHLY $45,000.
LET'S COMPARE THAT TO THE DAY
THAT PRESIDENT OBAMA WAS
INAUGURATED.
ROUGHLY $35,000.
SO IN JUST THOSE SHORT YEARS,
THE DEBT ON A CHILD BORN IN
AMERICA, THE DEBT THAT THEY ARE
BORN WITH HAS GONE UP FROM
$35,000 TO $45,000.
THESE DISTURBING ECONOMIC
RESULTS ARE THE DIRECT RESULT OF
THE PAST TWO YEARS OF POLICIES.
NOW LIBERALS WANT TO HOLD THE
UNITED STATES CREDIT RATING
HOSTAGE FOR MORE TAX HIKES AND
THE PRESIDENT IS LEADING THE
HE'S TRYING TO PUSH MORE TAX
HIKES DESPITE THE VERY FACT THAT
EVEN HE HAS NOW SAID IT IS THE
WORST TIME TO RAISE TAXES.
BACK IN 2009, PRESIDENT OBAMA
SAID, "THE LAST THING YOU WANT
TO DO IS RAISE TAXES DURING A
RECESSION."
SO WHY, THEN, IS HE CALLING FOR
TODAY?
AND WHY IS THE SENATE BUDGET
COMMITTEE CHAIRMAN TRYING TO
ONE-UP THE PRESIDENT BY CALLING
FOR $2 TRILLION?
WELL, OF COURSE, THE PRESIDENT
WON'T ADMIT HE WANTS TO RAISE
TAXES.
HE LIKES TO USE WIGGLE WORDS.
HE USES WORDS REVENUE OR
SPENDING IN THE TAX CODE
INSTEAD.
BUT WHEN YOU TRANSLATE THIS
WASHINGTON DOUBLESPEAK, IT COMES
OUT HIGHER TAXES.
SO WITH THE SPIN EXPOSED,
TACT.
THEY'RE TRYING TO CLAIM THAT
THEY'LL DELAY THE TAX INCREASES
UNTIL THE ECONOMY RECOVERS.
RAISE TAXES.
THEY SAY, WELL, LET'S JUST PUT
IT OFF FOR AWHILE.
THIS WEEK THE PRESIDENT SHOWED
WHAT THIS REALLY MEANS.
HE SAID -- QUOTE -- "NOBODY'S
GOING TO RAISE TAXES RIGHT NOW."
HE SAID, "WE'RE TALKING ABOUT
POTENTIALLY 2013 AND THE
THAT'S THE END OF HIS QUOTE.
SO IN OTHER WORDS, THIS ISN'T
REALLY ABOUT WAITING UNTIL THE
RECOVERY COMES, THE ECONOMIC
RECOVERY, IT'S ABOUT WAITING
UNTIL 2013, UNTIL AFTER THE
PRESIDENT'S REELECTION CAMPAIGN.
MORE TROUBLING STILL, THE
PRESIDENT HAS ALREADY SIGNALED
THE FUTURE.
TAXED TOOLY.
IT'S THAT WE SPEND TOO MUCH AND
YET THE PRESIDENT WANTS TO SPEND
EVEN MORE.
AT HIS PRESS CONFERENCE, HE SAID
HE'S ONLY TACKLING OUR DEBT SO
WE CAN BE -- QUOTE -- "IN A
POSITION TO MAKE THE KIND OF
INVESTMENTS," HE SAID, "THAT I
THINK ARE GOING TO BE NECESSARY
TO WIN THE FUTURE."
WHEN THE PRESIDENT TALKS ABOUT
INVESTMENT, IT'S COMMON
KNOWLEDGE WHAT HE'S TALKING
ABOUT IS SPENDING.
NOW FINAL LICKS FOR ALL THIS
POSTURING ABOUT GETTING THIS
DONE NOW, IT IS REALLY THE
PRESIDENT WHO SEEMS TO WANT TO
KICK THE CAN DOWN THE ROAD.
HIS PLAN MAY CUT TRILLIONS, BUT
WASHINGTON WOULD BE ABLE TO TAKE
AS LONG AS TEN YEARS TO DO IT.
THE MINORITY LEADER McCONNELL
HAS ALREADY BLOWN THE LIBERALS'
POLITICAL BLUFFS.
AS HE HAS SAID -- QUOTE -- "THE
PRESIDENT HAS PRESENTED US WITH
THREE CHOICES: SMOKE AND
MIRRORS, TAX HIKES, OR DEFAULT.
WELL, REPUBLICANS CHOOSE NONE OF
AS A DOCTOR, I'VE TAKEN THE
HIPPOCRATIC OAFNLG THE OATH
SAYS, "DO NO HARM."
I WILL TELL YOU, MR. PRESIDENT,
RAISING TAXES WILL HARM OUR
ECONOMY.
AND CULTING SPENDING -- AND
CUTTING SPENDING AT A NAILS SNAIL'S
PACE WILL DO VERY LITTLE TO
WE HAVE TO TACKLE OUR FISCAL
PROBLEMS TODAY.
THE FIRST STEPS TOWARD SOLVING
THESE PROBLEMS SHOULD BE TO PASS
AN AMENDMENT TO OUR CONSTITUTION
REQUIRING WASHINGTON TO BALANCE
ITS BUDGET.
A BALANCED BUDGET AMENDMENT
WOULD REQUIRE WASHINGTON TO
SPEND NO MORE MONEY THAN IT
TAKES IN EACH AND EVERY YEAR.
SUCH AN AMENDMENT WOULD FORCE
WASHINGTON TO LIVE WITHIN ITS
MEANS, LIKE MANY, MANY STATES DO
AND LIKE THE FAMILIES ACROSS THE
COUNTRY DO.
SO I COME TO THE FLOOR,
MR. PRESIDENT, AS COSPONSOR OF
THE BALANCED BUDGET AMENDMENT,
AS A AS A MATTER OF FACT, EVERY
REPUBLICAN IN THIS SENATE IS A
COSPONSOR OF THE BALANCED BUDGET
AMENDMENT.
47 REPUBLICAN SENATORS, EVERY
ONE, A COSPONSOR OF THE BALANCED
BUDGET AMENDMENT.
WE ARE UNITED AND WILL REMAIN A
UNITED, MR. PRESIDENT.
THIS IS A COMMONSENSE APPROACH,
AND IT WILL SHOW THE AMERICAN
PEOPLE THAT THEY CAN TRUST THEIR
GOVERNMENT WITH THEIR MONEY ONCE
AGAIN, BECAUSE RIGHT NOW THE
AMERICAN PEOPLE HAVE LITTLE
CONFIDENCE THAT THEY ARE GETTING
VALUE FOR THE MONEY THAT THEY
SEND TO WASHINGTON.
I BELIEVE, MR. PRESIDENT, THAT
WE NEED TO LEAD TODAY, NOT DEFER
LEADERSHIP UNTIL TOMORROW.
AMERICANS ARE COURAGEOUS, THEY
DESERVE A COURAGEOUS GOVERNMENT,
AND THAT'S WHY I KNOW THE
AMERICAN PEOPLE OVERWELLCOMINGLY
SUPPORT A BALANCED BUDGET
AMENDMENT -- OVERWHELMINGLY
SUPPORT A BALANCED BUDGET
AMENDMENT TO THE CONSTITUTION.
THE PRESIDENT SAID THE OTHER
DAY, HE SAID, "IT'S TIME TO EAT
OUR PEAS," HE SAID.
I AGREE WITH ANOTHER PRESIDENT,
PRESIDENT RONALD REAGAN, WHO
SAID "IT'S TIME TO STARVE THE
BEAST."
AND THE BEAST IS WASHINGTON, AND
THE WASHINGTON WASTEFUL SPENDING
THAT THE AMERICAN PEOPLE ARE
SEEING EVERY DAY.
MR. PRESIDENT, AMERICANS PAY
THEIR DEBTS, THEY WANT THEIR
COUNTRY TO DO SO, TOO.
IT IS TIME FOR WASHINGTON TO
LISTEN.
IT IS TIME FOR A BALANCED BUDGET
CONSTITUTIONAL AMENDMENT, AND
THEN IT IS TIME TO START PAYING
OFF THIS MASSIVE, MASSIVE DEBT.
THANK YOU, MR. PRESIDENT.
I YIELD THE FLOOR AND NOTE THE
ABSENCE OF A QUORUM.
THE
CLERK WILL CALL THE ROLL.
QUORUM CALL: