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THE PRESIDING
THE
SENATOR FROM NEW JERSEY.
MR. PRESIDENT, I
ASK UNANIMOUS CONSENT THAT THE
QUORUM CALL BE WAIVED.
WITHOUT
OBJECTION.
MR. PRESIDENT, I
KNOW WE'RE ON THE MILCON
APPROPRIATION BILL BUT I DID NOT
WANT TO LOSE THE OPPORTUNITY TO
TALK ABOUT A PRESSING ISSUE
BEFORE THE COUNTRY TODAY AND
THAT IS HOW WE WILL WORK TO
RESOLVE THE NATION'S OBLIGATIONS
TO ITS CREDITORS AND WHAT THE
FAILURE OF DOING THAT MEANS TO
THE NATION AND TO EACH AND EVERY
AMERICAN.
AND SO, MR. PRESIDENT, I RISE TO
ASK A SIMPLE QUESTION OF MY
REPUBLICAN COLLEAGUES: WHEN IS
AN ENTITLEMENT NOT AN
ENTITLEMENT?
APPARENTLY, GIVEN THE RHETORIC
AND ACTIONS OF SOME OF OUR
FRIENDS ON THE OTHER SIDE OF THE
AISLE, THE ANSWER WOULD BE THAT
AN ENTITLEMENT IS NOT AN
ENTITLEMENT WHEN IT BENEFITS AN
ENTITLED CLASS OF WEALTHY
AMERICANS.
IN THE REPUBLICANS' IDEOLOGICAL
HAZE THAT IS SWIRLING AROUND
WASHINGTON THESE DAYS, IT'S ONLY
AN ENTITLEMENT WHEN IT GOES TO
THE MIDDLE-CLASS FAMILIES, TO
STUDENTS, TO SENIORS, TO THE
DISABLED, TO THE DOWNTRODDEN AND
THE DISPOSSESSED.
THOSE ENTITLEMENTS, ACCORDING TO
THE REPUBLICANS, SHOULD BE ON
THE CHOPPING BLOCK.
BUT ENTITLEMENTS TO THE WEALTHY
CAN NEVER BE ON THE TABLE,
DESPITE THE FACT THAT OUR
CURRENT TAX CODE ALLOWS THE
WEALTHIEST 400 TAXPAYERS IN
AMERICA TO PAY A SMALLER
PERCENTAGE OF THEIR INCOME IN
TAXES THAN THE AVERAGE NEW
JERSEY FAMILY.
THAN THE AVERAGE NEW JERSEY
FAMILY.
MR. PRESIDENT, WHAT REPUBLICANS
WILL ULTIMATELY DO, THEIR GOAL
IN THIS DEBT NEGOTIATION, OUGHT
OUTLINED IN THE HOUSE-PASSED
BUDGET THAT ENDS MEDICARE AS WE
KNOW IT, THE BASELINE OF
RETIREMENT SECURITY FOR OUR
SENIORS.
WHAT WAS THE RETIREMENT SECURITY
OF MY MOTHER IN THE TWILIGHT OF
HER LIFE AS SHE STRUGGLED
AGAINST ALZHEIMER'S, AFTER
HAVING WORKED A LIFETIME TO HELP
BUILD A FAMILY AND BE PART OF
CONTRIBUTING TO A COMMUNITY.
SHE WOULD NOT HAVE LIVED WITH
THE DIGNITY THAT SHE DESERVED IN
THE TWILIGHT OF HER LIFE BUT FOR
MEDICARE AS WE KNOW IT.
AND IT MAKES A MIDDLE-CLASS LIFE
IN AMERICA MORE EXPENSIVE AND
LESS ACCESSIBLE.
NOW, IT SEEMS TO ME THAT OUR
REPUBLICAN FRIENDS, THEIR
POLICIES WOULD MAKE SURE THAT
THE RICHER GET EVEN MORE RICH AT
THE EXPENSE OF THE MIDDLE CLASS.
THEY THINK THAT THE RICH ARE
ENTITLED TO ALL THE TAX
LOOPHOLES THEY GET BUT SENIORS
AND THE DISABLED, THEY DON'T
REALLY NEED THE HEALTH BENEFITS
THEY'RE GETTING.
AND WE CALL THIS LEADERSHIP?
DO THEY CALL IT LEADERSHIP TO
STAND ON IDEOLOGY, SEND THIS
NATION INTO DEFAULT?
DEFAULT BASICALLY MEANS BEING A
DEADBEAT.
I THINK AVERAGE AMERICANS
UNDERSTAND WHAT BEING A DEADBEAT
IS ALL ABOUT.
WE TEACH OUR CHILDREN TO MEET
THEIR RESPONSIBILITIES.
WE SAY DON'T INCUR DEBT, BUT IF
RESPONSIBILITY.
YOU INCUR THAT DEBT MEET YOUR
PAY IT.
BUT NOW WE HAVE LEADERS IN THIS
NATION WHO SAY LET'S HAVE THE
NATION BE A DEADBEAT.
AND WE WOULD LEAVE A SENIOR
CITIZEN WHO LIVES -- I KNOW SOME
OF OUR FRIENDS HERE MAY NOT HAVE
AN APPRECIATION OF THIS, BUT WHO
LIVES MONTH TO MONTH ONLY ON
SOCIAL SECURITY, STANDING
HOPELESSLY ON THE FRONT PORCH
COME.
WAITING FOR A CHECK THAT MAY NOT
YOU CALL THAT LEADERSHIP?
YOU CALL IT LEADERSHIP TO RISK
INCREASING INTEREST RATES ON
MORTGAGES WHEN FAMILIES ARE
STRUGGLING TO PAY AT THE CURRENT
RATES ON STUDENT LOANS, ON CAR
PAYMENTS, ON CREDIT CARDS THAT
MIDDLE-CLASS FAMILIES CAN ILL
AFFORD NOW?
THEY CALL IT LEADERSHIP TO RISK
LEAVING A WOUNDED VETERAN
WITHOUT A BENEFIT CHECK?
OR ACTIVE MILITARY MEN AND
PAYCHECK.
WOMEN, THEIR FAMILIES WITHOUT A
THEY CALL IT LEADERSHIP TO RISK
A SPIKE IN PRICES THAT INCREASES
THE COST OF GROCERIES AND GAS
AND POTENTIALLY COSTS A
MIDDLE-CLASS FAMILY IN NEW
JERSEY AN ADDITIONAL $1,500 IN
THE SHORT TERM?
THEY CALL IT LEADERSHIP TO RISK
AN END TO UNEMPLOYMENT BENEFITS,
TO STATES LEAVING THOSE ALREADY
STRUGGLING IN THIS ECONOMY AT
HAVE?
RISK OF LOSING WHAT LITTLE THEY
THEY CALL IT LEADERSHIP TO RISK
MEDICAID PAYMENTS TO STATES FOR
DISABLED SENIORS IN NURSING
HOMES WHO HAVE NO OTHER OPTIONS?
BUT AMAZINGLY ALLOW A
MILLIONAIRE WHO OWNS A STABLE OF
RACEHORSES A DEPRECIATION
ALLOWANCE ON THE TAX CODE ON
THOSE RACEHORSES?
THAT'S AN ENTITLEMENT WE
SHOULDN'T TOUCH.
THAT'S LEADERSHIP.
THE BOTTOM LINE, IT'S ESTIMATED
THAT ABOUT $125 BILLION WORTH OF
BILLS ON AVERAGE MAY HAVE TO BE
PUT OFF IF WE DON'T DEAL WITH
MEETING THE NATION'S
OBLIGATIONS.
MR. PRESIDENT, IT'S NOT
LEADERSHIP IF THE DOLLAR
PLUMMETS AND AMERICA LOSES.
IT'S NOT LEADERSHIP IF NO ONE
FOLLOWS BUT THE FAR RIGHT WING
OF THE REPUBLICAN PARTY.
IF WE'RE GOING TO BALANCE THE
BUDGET BY LIMITING ENTITLEMENTS
AND SUBSIDIES AND EARMARKS,
PERHAPS WE SHOULD BEGIN WITH
THOSE ENTITLEMENTS IN THE TAX
CODE THAT BENEFIT THOSE WHO ARE
THE WEALTHIEST IN THE COUNTRY.
PERHAPS WE SHOULD LOOK AT ENDING
ENTITLEMENTS FOR RICH OIL
COMPANIES WHO RECEIVE $2 BILLION
A YEAR.
THEY RECEIVE IN JUST TWO TAX
BREAKS THAT THE CODE GIVES THEM
$21 BILLION OVER THE NEXT TEN
YEARS.
AND YET, OH NO, WE CAN'T TOUCH
THAT, BUT WE CAN TELL SOME
SENIOR THAT IN FACT THEY HAVE TO
BE ON THE CHOPPING BLOCK, THAT
IT.
MEDICARE HAS TO END AS WE KNOW
OR HOW ABOUT $6 BILLION FOR
ETHANOL PRODUCERS.
OR HOW ABOUT THE RACEHORSE
DEPRECIATION ALLOWANCE?
OR THE BILLIONS YEAR AFTER YEAR
THAT DEFENSE CONTRACTORS THINK
THEY'RE ENTITLED TO.
HOW ABOUT INVESTING IN NEW
BRIDGES AND TUNNELS AND A NEW
STATE-OF-THE-ART TRANSPORTATION
SYSTEM IN NEW JERSEY INSTEAD OF
KANDAHAR?
MR. PRESIDENT, OUR FRIENDS ON
THE OTHER SIDE WHO BELIEVE THAT
WE SHOULD BALANCE THE BUDGET BY
SPENDING CUTS ALONE ARE MORE
THAN WILLING TO BARGAIN AWAY
STUDENT LOANS, BARGAIN AWAY
PRESCRIPTION DRUG COVERAGE, EVEN
BARGAIN AWAY NURSING HOME CARE
FOR THE ELDERLY PARENTS TO
PROTECT ENTITLEMENTS FOR BIG OIL
COMPANIES, BILLIONAIRE CORPORATE
EXECUTIVES WHO TRAVEL THE WORLD
IN PRIVATE JETS AND MILLIONAIRES
WHO BELIEVE THEY ARE ENTITLED TO
ALL OF THE TAX LOOPHOLES THEY'RE
GETTING NOW AFTER THE BIGGEST
TAX CUT IN HISTORY, ENTITLED TO
TAX CUTS BUT NOT OBLIGATED TO
CREATE AMERICAN JOBS.
CONTRARY TO THE FALSE RHETORIC
WE HEAR FROM THE OTHER SIDE
ABOUT A CORRELATION BETWEEN
ENTITLEMENTS FOR THE WEALTHY AND
JOB CREATION.
THE HARD RIGHT WING OF THE
REPUBLICAN PARTY HAS COME TO THE
TABLE WILLING TO GIVE UP
NOTHING, UNWILLING TO ACCEPT AN
OFFER BY THE PRESIDENT AND
DEMOCRATS OF TRILLIONS OF
DOLLARS IN SPENDING CUTS,
POTENTIAL SAVINGS IN ENTITLEMENT
PROGRAMS AND TAX REFORM OPTIONS,
ALL OF WHICH THEY HAVE BEEN
DEMANDING, UNLESS WE AGREE TO
PROTECT TO THE ENTITLEMENTS THAT
EXIST FOR THE WEALTHY.
NOT EVEN A SINGLE PENNY ON THE
REVENUE SIDE OF THE OPTION.
DON'T TOUCH THOSE ENTITLEMENTS
FOR THE BIG FIVE OIL COMPANIES.
DON'T TOUCH THE ENTITLEMENTS FOR
THE CORPORATE JETS.
DON'T TOUCH THE ENTITLEMENTS FOR
THE RACEHORSES.
DON'T TOUCH ANY OF THOSE
ENTITLEMENTS GIVEN THE TAX BREAK
AND HAVING A CODE WHERE AN
INCREDIBLE UNIVERSE OF
CORPORATIONS IN AMERICA DON'T
EVEN PAY AT THE END OF THE DAY
BY AOUGS ALL OF THE
PROVISIONS -- USING ALL OF THE
PROVISIONS OF THE CODE ANYTHING
TOWARDS THE COMMON GOOD.
NOTHING.
THEY COME TO THE TABLE WITH
THEY LOOK AMERICA IN THE EYE AND
TELL US WE CANNOT CUT SUBSIDIES
TO BIG OIL COMPANIES.
WEWE CANNOT PUT ENTITLEMENTS TO
BIG CORPORATIONS ON THE TABLE
BECAUSE THEY CONVENIENTLY
THROUGH THIS POLITICAL SLEIGHT
OF HAND LABEL ANY ATTEMPT TO END
THOSE TAX BREAKS, THOSE
ENTITLEMENTS AS A TAX INCREASE
ON WHAT THEY LIKE TO CALL THE
JOB CREATORS.
AND THEIR EXCUSE FOR SUCH AN
IRRESPONSIBLE BARGAINING
POSITION?
TRICKLE-DOWN ECONOMICS.
I'VE HEARD THIS SO MANY TIMES
OVER THE TIME I'VE BEEN HERE IN
CONGRESS.
BUT THE PROBLEM IS NOTHING HAS
EVER TRICKLED DOWN.
AND YET, THOSE SAME ENTITLEMENTS
FOR THE ENTITLED, THE $5
TRILLION ENTITLEMENT THE BUSH
TAX CUTS WOULD COST GOING
FORWARD OVER THE NEXT DECADE
THAT WE ARE TOLD AT THE OUTSET
WOULD CREATE JOBS HAVE TURNED TO
BE THE GREATEST FAILED JOBS
PROGRAM IN AMERICAN HISTORY.
AND I LOOK AT HOW THOSE TAXES,
TAX BREAKS ARE SKEWED TO THE
WEALTHIEST.
I UNDERSTAND THE OPPORTUNITY TO
HELP MIDDLE-CLASS FAMILIES, AND
I PROMOTE THAT BECAUSE THEY ARE
THE ONES WHO SPEND IN THIS
ECONOMY AND CREATE DEMANDS.
BUT THE WAY THOSE TAX CUTS ARE
SKEWED TO THE WEALTHIEST, $5
TRILLION, I ASK MY FRIENDS,
WHERE ARE ALL THE JOBS THAT WERE
SUPPOSEDLY GOING TO BE CREATED
AS A RESULT OF THAT?
WHERE ARE ALL THE JOBS THESE
REPUBLICAN ENTITLEMENTS TO THE
PRODUCE?
WEALTHY WERE SUPPOSED TO
WHERE ARE THEY?
WHEN MIDDLE-CLASS AMERICANS ARE
STRUGGLING TO MAKE ENDS MEET,
PAY THE BILLS, KEEP THEIR JOBS,
THEIR HEALTH CARE, THEIR HOMES,
ENTITLEMENTS TO THE ENTITLED ARE
SPENDING.
THE MOST RECKLESS KIND OF
THIS IS THE IRRESPONSIBLE
REPUBLICAN ENTITLEMENT, SPENDING
THAT SHOULD BE ON THE TABLE.
THE VERY ENTITLEMENT SPENDING
DEBT.
THAT CONTRIBUTED TO OUR CURRENT
AND YET, OUR FRIENDS ON THE
OTHER SIDE CONTINUE TO PROTECT
THESE ENTITLEMENTS.
YOU KNOW, THEY WILL NOT VOTE TO
RAISE THE DEBT LIMIT UNLESS WE
CUT ENTITLEMENTS FOR THE MIDDLE
CLASS, THE WORKING MIDDLE-CLASS
FAMILIES OF THIS COUNTRY, BUT
THEY PROTECT ENTITLEMENTS FOR
THE WEALTHIEST AMERICANS.
THEY'RE HOLDING A GUN TO OUR
HEADS AT A CRITICAL TIME IN OUR
ECONOMIC HISTORY, BUT WE NEED
ONLY TO LOOK BACK AT HOW OFTEN
REPUBLICANS THEMSELVES HAVE
RAISED THE DEBT LIMIT.
AS YOU CAN SEE FROM THIS CHART,
TO PAY FOR TAX CUTS FOR THE
WEALTHY, GEORGE W. BUSH HAD
SEVEN INCREASES OF THE DEBT
CEILING, INCREASING IT BY 90%
FOR THE LARGEST INCREASE IN
HISTORY, A TOTAL OF OVER $5
TRILLION.
THAT INCLUDES THE ENTITLEMENTS
FOR THE WEALTHY THAT THEY WILL
NOT PUT ON THE TABLE IN THE NAME
OF SHARED SACRIFICE, EVEN IF IT
MEANS AMERICA DEFAULTS ON ITS
DEBT AND BECOMES A DEADBEAT AND
SENDS A RIPPLE EFFECT THROUGHOUT
THE WORLD AND ITS ECONOMIES THAT
COME BACK CRASHING ON OUR SHORES
HERE IN THE UNITED STATES.
SO IT'S AMAZING TO ME.
RONALD REAGAN, HE RAISED THE
DEBT CEILING 18 TIMES.
18 TIMES IN EIGHT YEARS, A TOTAL
PERCENTAGE INCREASE OF 199%
AMOUNTING TO $1.8 TRILLION,
WHICH IN TODAY'S DOLLARS WOULD
BE $4 TRILLION TODAY.
18 TIMES, RONALD REAGAN.
18 TIMES.
GEORGE BUSH, SEVEN TIMES FOR
$5.3 TRILLION.
AND THAT AMOUNT, BY THE WAY,
UNDER THE BUSH YEARS ENDS UP
BEING WHAT?
WHAT IS IT EQUAL TO?
THE BUSH TAX CUTS.
$5 TRILLION.
NOW THEY WILL NOT RAISE THE DEBT
LIMIT TO PROTECT THE GOOD FAITH
OF THE AMERICAN FINANCIAL
SYSTEM, TO PROTECT MIDDLE-CLASS
FAMILIES WHO ALREADY LOST SO
MUCH UNDER REPUBLICAN ECONOMIC
POLICIES THAT LED US TO THE
BRINK OF ECONOMIC DISASTER.
THE WHOLE CONFLUENCE OF WHAT
HAPPENED IN SEPTEMBER OF 2008,
WHERE WE HAD THESE BUSH TAX CUTS
TOTALLY UNPAID FOR, DENYING THE
FEDERAL TREASURY THOSE MONEYS AT
A TIME IN WHICH WE HAD TWO WARS
RAGING ABROAD IN IRAQ AND
AFGHANISTAN AND NEW ENTITLEMENT
PROGRAM UNPAID FOR, AND A
MARKETPLACE THAT INSTEAD OF
BEING A FREE MARKET, WHICH I
SUPPORT, BECAME A FREE-FOR-ALL
MARKET IN WHICH INVESTOR
DECISIONS END UP BECOMING
COLLECTIVE RISKS TO THE ENTIRE
COUNTRY.
AND THAT'S WHAT WE HAVE BEEN
FACING.
INSTEAD OF MEETING THIS
RESPONSIBILITY, THEY FAVOR CUTS
IN ENTITLEMENTS TO SENIORS, TO
THE DISABLED, THE FAMILIES
STRUGGLING TO MAKE ENDS MEET, TO
STUDENTS SEEKING TO GET THE
COLLEGE EDUCATION THAT CAN HELP
FUEL AMERICA'S PROSPERITY.
THAT'S WHAT WE SAW IN THE HOUSE
REPUBLICAN BUDGET THAT PASSED.
BUT ARE WILLING TO DECIMATE OUR
NATION'S ECONOMY TO PROTECT
ENTITLEMENTS FOR THE RICH.
THEY'VE DUG IN THEIR HEELS AND
WALLED OFF IRRESPONSIBLE,
UNNECESSARY TAX BREAKS FOR BIG
OIL COMPANIES.
THEY'VE WALLED OFF ENTITLEMENTS
TO MULTIBILLION-DOLLAR
CORPORATIONS AND MILLIONAIRES
WHO NEED NO ENTITLEMENTS BECAUSE
THEY BELIEVE, BLINDED BY THEIR
IDEOLOGICAL HAZE, THAT THE RICH
ARE ENTITLEED TO THEIR
OUTRAGEOUS WAYS EVEN IF IT MEANS
BALLOONING THE DEFICIT AND
SENDING THE NATION INTO DEFAULT
ON ITS DEBT.
ENTITLEMENTS FOR THESE SPECIAL
ELSE.
INTERESTS, CUTS FOR EVERYONE
MR. PRESIDENT, REPUBLICANS
PREFER TO TALK ABOUT CUTTING
ENTITLEMENTS RATHER THAN WHAT IT
REALLY MEANS.
RATHER THAN CUTTING SOCIAL
SECURITY, RATHER THAN CUTTING
MEDICAID.
MEDICARE, RATHER THAN CUTTING
BECAUSE CUTTING ENTITLEMENTS
SEEMS SO MUCH ESOTERIC.
IT'S NOT VERY PERSONAL.
BUT WE ALL KNOW OUR FAMILIES,
OUR MOTHERS AND FATHERS WHO MAY
BE GETTING THEIR HEALTH CARE ON
MEDICARE, OR ONE OF THEM WHO MAY
BE SITTING IN A NURSING HOME ON
MEDICAID.
OR A POOR CHILD WHO IS GETTING
THEIR HEALTH CARE BEING TAKEN
CARE OF ON MEDICAID.
WE KNOW OUR FRIENDS AND
NEIGHBORS WITH DISABILITIES.
AND WE UNDERSTAND WHAT THOSE
CHALLENGES ARE.
LET'S BE CLEAR, THE ONLY
ENTITLED PEOPLE, REPUBLICANS ARE
TALKING ABOUT IN THIS DEBATE ARE
THOSE WHO ALREADY ENJOY ENORMOUS
BENEFITS UNDER THE TAX CODE,
BOTH INDIVIDUALLY AND
CORPORATIONS WHO FEEL ENTITLED
BREAKS.
TO THESE PRETTY OUTRAGEOUS TAX
OIL COMPANIES, USE I HEARD FROM
THE EXECUTIVES WHO APPEARED
BEFORE THE SENATE FINANCE
COMMITTEE, THEY CLEARLY FEEL
ENTITLED TO $21 BILLION IN
SUBTKEUS.
-- SUBSIDIES.
MILLIONAIRES AND BILLIONAIRES
THINK THEY'RE ENTITLED TO THE
BUSH TAX CUTS.
CORPORATE TITANS TH EUR --
THEY'RE ENTITLED TO TAX BREAKS
FOR THEIR JETS.
AND REPUBLICANS THINK THESE ARE
THE ONLY ENTITLEMENTS WORTH
PROTECTING.
IT'S TIME TO STOP TRYING TO
BALANCE THE BUDGET ON THE BACKS
OF SENIORS AND MIDDLE-CLASS
WORKING FAMILIES IN THIS
COUNTRY.
IT'S TIME TO STOP PROTECTING
GOVERNMENT HANDOUTS TO THE
ENTITLED CLASS AT THE EXPENSE OF
THE MIDDLE CLASS AND TELLING
AMERICA IN GOOD ECONOMIC TIMES
THAT IT STIMULATES THE ECONOMY
AND IN BAD TIMES THAT IT'S A
JOB-CREATION POLICY.
THE TRUTH IS IT IS NEITHER.
IT IS SIMPLY AN ENTITLEMENT
PROGRAM FOR AN ENTITLED SMALL
CLASS OF AMERICANS WHO ARE NOT
STRUGGLING TO MAKE ENDS MEET OR
PAY THE MORTGAGE OR AFFORD
HEALTH CARE OR FIND ANOTHER
MINIMUM WAGE JOB TO PUT FOOD ON
THE TABLE.
MR. PRESIDENT, THIS STARK
CONTRAST OF WEALTH IN THE NATION
IS IN THE NUMBERS.
THE 400 WEALTHIEST TAXPAYERS,
THOSE WHO GET THE MOST OUT OF
REPUBLICAN ENTITLEMENTS, HAD AN
AVERAGE INCOME IN 2008 OF $270
MILLION.
ALMOST $300 MILLION.
THAT AMOUNTS TO AN HOURLY WAGE
OF ABOUT $31,000 AN HOUR.
18%.
THEIR AVERAGE TAX RATE WAS ABOUT
IN CONTRAST, THE MEDIAN NEW
JERSEY HOUSEHOLD EARNED ABOUT
$64,777 THE ENTIRE YEAR AS
OPPOSED TO JUST TWO HOURS --
THAT EQUATEED TO TWO HOURS FOR
THE RICHEST 400 PEOPLE, AND YET
THEY PAID AN AVERAGE OF 21.2%.
THEY PAID A HIGHER PERCENTAGE OF
LESS OF THEIR WAGES THAN THOSE
400 TOP EARNERS IN THE COUNTRY.
A FIRST LIEUTENANT AT FORT DIX,
ABOUT $52,000.
NEW JERSEY, EARNED ABOUT
18.9%.
HE PAID AN AVERAGE TAX RATE OF
SO I ASK, MR. PRESIDENT, LOOKING
AT THESE NUMBERS, WHAT SHOULD BE
NOT.
ON THE TABLE AND WHAT SHOULD
THE FACT IS WE ARE OFFERING
SOLUTIONS.
WE ARE SIMPLY ASKING FOR
FAIRNESS AND FOR OUR FRIENDS ON
THE OTHER SIDE TO BRING
SOMETHING TO THE TABLE OTHER
THAN A POLITICAL IDEOLOGY AND AN
UNREALISTIC ULTIMATUM, ALL IN
ORDER TO PROTECT AN ENTITLED
CLASS THAT NEEDS NO PROTECTIONS.
I DON'T USUALLY AGREE WITH THE
CONSERVATIVE COLUMNIST DAVID
BROOKS, BUT AS I HAVE SAID ON
THIS FLOOR BEFORE, I AGREE WITH
HIM WHEN HE SAYS -- QUOTE --
"THE MEMBERS OF THIS MOVEMENT
TALK BLANDLY OF DEFAULT AND ARE
HONOR."
WILLING TO STAIN THEIR NATION'S
WILLING TO STAIN THEIR NATION'S
HONOR.
AND I AGREE WHEN HE WROTE THAT
IF THE DEBT TALKS FAIL,
INDEPENDENT VOTERS WILL SEE
DEMOCRATS AS WILLING TO
COMPROMISE BUT REPUBLICANS WERE
NOT.
MR. PRESIDENT, THOUGH, THIS IS
NOT EVEN ABOUT THAT.
AT THE END OF THE DAY, THIS IS
ABOUT THE NATION.
THIS IS ABOUT OUR ECONOMY.
THIS IS ABOUT TRYING TO GET
PEOPLE BACK TO WORK.
THIS IS ABOUT TRYING TO ENSURE
FAMILIES CAN REALIZE THEIR HOPES
AND DREAMS AND ASPIRATIONS.
THIS IS ABOUT THE UNITED STATES
OF AMERICA, A BEACON OF LIGHT TO
THE REST OF THE WORLD, THE GOLD
STANDARD IN TERMS OF CREDIT AND
MEETING ITS OBLIGATIONS
CONTINUING TO BE THAT GOLD
STANDARD AND THAT BEACON OF
LIGHT OR BECOMING A DEADBEAT IN
THE WORLD.
MR. PRESIDENT, I WOULD GO EVEN
FURTHER AND SAY THE AMERICAN
PUBLIC WILL SEE RIGHT THROUGH
THESE EFFORTS TO PROTECT
ENTITLEMENTS FOR A PRIVILEGED
CLASS WHILE THOSE AMERICANS WHO
STRUGGLE EVERY DAY TO BUILD THE
FOUNDATION OF THIS AMERICA, THE
CUTS GO ON THEIR BACK.
THEY COME TO THE TABLE WITH
NOTHING OTHER THAN AN
IDEOLOGICAL FIXATION THAT
PREVENTS THEM FROM NEGOTIATING
IN GOOD FAITH, PREVENTS THEM
FROM PUTTING THE INTERESTS OF
THE COUNTRY AHEAD OF THEIR
NARROW POLITICAL INTERESTS.
I SEE THAT -- I HAVE READ SOME
OF THE COMMENTS ABOUT THIS ISSUE
AS IT RELATES TO, WELL, YOU
KNOW, DO WE END UP GIVING
PRESIDENT OBAMA THE ABILITY TO
GET RE-ELECTED OR NOT?
OBAMA.
THIS IS NOT ABOUT PRESIDENT
THIS IS ABOUT THE UNITED STATES
OF AMERICA.
THIS IS ABOUT OUR COUNTRY.
THIS IS ABOUT BEING RESPONSIBLE
AT ONE OF ITS MOST CRITICAL
TIMES.
THIS IS ABOUT GETTING THE
COUNTRY BACK ON TRACK.
THIS IS ABOUT GIVING THE PRIVATE
SECTOR FAITH AND CONFIDENCE THAT
WE ARE NOT GOING TO DEFAULT ON
OUR DEBT, THAT WE'RE GOING TO
MEET OUR OBLIGATIONS.
IT'S ABOUT TELLING INVESTORS IN
THE WORLD THE UNITED STATES IS
STILL A GOOD PLACE TO INVEST IN,
AND WHEN THOSE INVESTMENTS ARE
MADE, JOBS ARE CREATED, PEOPLE
GO TO WORK.
ONCE AGAIN, THEY HAVE THE
DIGNITY OF WORK TAKING PLACE.
THEY ARE ABLE TO SPEND IN THE
ECONOMY, THE ECONOMY GROWS, THAT
CREATES OTHER JOBS, OTHER
OPPORTUNITIES, AND WE MOVE
TOWARD FULFILLMENT ONCE AGAIN OF
A GREAT AMERICAN OPPORTUNITY.
ABOUT.
THAT'S WHAT THIS DEBATE IS ALL
IT'S A DEBATE ABOUT EACH AND
EVERY ONE OF US, AND THE SOONER
OUR FRIENDS REALIZE THAT, IT'S
NOT ABOUT A POLITICAL EQUATION,
IT'S NOT ABOUT WHO WINS AND
LOSES IN A POLITICAL CONTEXT,
IT'S ABOUT THE NATION, AND IF WE
CAN FIX OUR ATTENTION TO THE
NEEDS OF THE NATION, THEN I HAVE
GOT TO BELIEVE THAT WE CAN MEET
THIS CHALLENGE IN A BALANCED
WAY.
CLEARLY, IF RONALD REAGAN RAISED
THE DEBT CEILING 18 TIMES AND IF
GEORGE BUSH RAISED IT SEVEN
TIMES, THEN THIS TIME, THE FIRST
TIME UNDER PRESIDENT OBAMA THAT
IT NEEDS TO BE RAISED, WHICH IS
MERELY TO PAY THE OBLIGATIONS WE
ALREADY HAVE, I HAVE GOT TO
BELIEVE THAT RESPONSIBLE PEOPLE
WILL COME FORWARD AND SAY YES
AND DO IT IN A WAY THAT ISN'T ON
THE BACKS OF MIDDLE-CLASS
WORKING FAMILIES.
WITH THAT, MR. PRESIDENT, I
YIELD THE FLOOR AND OBSERVE THE
ABSENCE OF A QUORUM.
THE CLERK
WILL CALL THE ROLL.
QUORUM CALL:
R FROM NEW JERSEY.
I ASK UNANIMOUS
CONSENT THE QUORUM CALL BE
VITIATED.
WITHOUT
OBJECTION.
ON BEHALF OF
SENATOR LEAHY, I ASK THAT HIS
LAW CLERK ON HIS STAFF, BRENDAN
FORBES, BE GRANTED FLOOR
PRIVILEGES FOR THE WEEK OF
JULY 18, 2011.
WITHOUT
OBJECTION.
WITH THAT,
MR. PRESIDENT, I OBSERVE THE
ABSENCE OF A QUORUM.
THE CLERK
WILL CALL THE ROLL.
QUORUM CALL:
SENATOR FROM OKLAHOMA.
THANK YOU.
I ASK THE QUORUM CALL BE
DISPENSED WITH.
WITHOUT
OBJECTION.
I ASK UNANIMOUS
CONSENT TO CALL UP AMENDMENT
NUMBER 553.
THE CLERK
WILL REPORT.
THE SENATOR FROM
OKLAHOMA, MR. COBURN, FOR
MR. McCAIN, PROPOSES AN
AMENDMENT NUMBERED 553.
I ASK UNANIMOUS
CONSENT THAT THE AMENDMENT BE
CONSIDERED AS READ.
I NOTE THE ABSENCE OF A QUORUM.
FIRST,
WITHOUT OBJECTION.
AND THE CLERK WILL CALL THE
ROLL.
CALL:
MR. PRESIDENT?
THE
RECOGNIZED.
SENATOR FROM SOUTH DAKOTA IS
I ASK CONSENT THAT
THE QUORUM CALL BE DISPENSED
WITH.
WITHOUT
OBJECTION.
I ASK UNANIMOUS