Senate Session 2011 - 08 - 01 - 10 - 30 - 15 - 11 - 01 - 41

AGREEMENT ON RAISING THE FEDERAL DEBT CEILING OF COURSE. AFTER THEY RETURN THE SENATE WILL CONSIDER THAT LEGISLATION. NOW LIVE COVERAGE OF THE U.S. SENATE ON C-SPAN2. LET US PRAY. O GOD, HOW MAJESTIC IS YOUR NAME IN ALL THE EARTH. LONG BEFORE THE BIRTH OF THE MOUNTAINS, YOU HAVE ALWAYS BEEN GOD SUSTAINING THE UNIVERSE WITH YOUR COMMANDS. ALTHOUGH LIFE'S CHALLENGES SOMETIMES PROMPT US TO FEEL THAT WE ARE REARRANGING FURNITURE IN A BURNING BUILDING, WE TAKE COMFORT IN THE KNOWLEDGE THAT YOU HEAR AND ANSWER PRAYER. WE THANK YOU THAT OUR LAWMAKERS ARE STRIVING TO FIND COMMON GROUND. WHILE WORK REMAINS TO BE DONE EMPOWER THEM TO DISCOVER OPPORTUNITIES IN THIS CURRENT CRISIS TO BUILD PERMANENT BRIDGES OF COOPERATION AS THEY REMEMBER THAT WITH MANY COUNSELORS THERE IS SAFETY. BLESS THE MEMBERS OF THEIR STAFFS WHO HAVE LABORED DILIGENT LY SO THAT WE CAN SEE THE BEGINNINGS OF A RAINBOW AFTER THE STORM. MAY THESE SOMETIME UNSUNG HEROES AND HEROINES KNOW THAT YOU WILL REWARD THEIR FAITHFULNESS. WE PRAY IN YOUR SACRED NAME. AMEN. PLEASE JOIN ME IN RECITING THE PLEDGE OF ALLEGIANCE TO THE FLAG. I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA AND TO THE REPUBLIC FOR WHICH IT STANDS, ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL. THE CLERK WILL READ A COMMUNICATION TO THE SENATE. WASHINGTON D.C., AUGUST 1, 2011. TO THE SENATE: UNDER THE PROVISIONS OF RULE 1, PARAGRAPH 3, OF THE STANDING RULES OF THE SENATE, I HEREBY APPOINT THE HONORABLE HERB KOHL, A SENATOR FROM THE STATE OF WISCONSIN, CHAIR. TO PERFORM THE DUTIES OF THE SIGNED: DANIEL K. INOUYE, PRESIDENT PRO TEMPORE. MR. PRESIDENT? MR. LEADER. THANK YOU INVESTMENT FOLLOWING LEADER REMARKS THE SENATE WILL RESUME CONSIDERATION OF THE MOTION TO CONCUR ON THE HOUSE MESSAGE TO GO ACCOMPANY S. 627, WHICH IS THE LEGISLATIVE INCREASE. VEHICLE FOR THE DEBT LIMIT THE SENATE WILL RECESS FROM 11:00 A.M. TO 12:30 P.M. WHEN THE SENATE RECONVENES THE TIME UNTIL 2:30:30 WILL BE EQUALLY DIVIDED AND CONTROLLED BETWEEN THE TWO LEADERS OR THEIR DESIGNEES. I WANT TO SPEND A FEW MINUTES WITH THE UNITED STATES SENATE TODAY AND THE AMERICAN PEOPLE TO TALK TO THEM ABOUT THIS GREAT BODY THAT WE SERVE IN. I KNOW THAT THERE ARE ALL KINDS OF PUNDITS AND COMMENTATORS WHO TALK ABOUT HOW THE SYSTEM IS BROKEN. THEY POINT TO WHAT'S BEEN GOING ON IN WASHINGTON THE LAST FEW MONTHS AS SAYING IT SHOWS WE NEED A COMPLETE CHANGE IN THE WAY WE ENACT LAWS. IT DOESN'T WORK ANYMORE. IT'S TERRIBLE, AWFUL; WHAT'S BEEN GOING ON. MR. PRESIDENT, I WANT TO TAKE JUST A FEW MINUTES AND HISTORICALLY REVIEW WHAT OUR COUNTRY'S ALL ABOUT. IN THE SUMMER OF 1787, THE FOUNDING FATHERS MEETING IN PHILADELPHIA WERE HAVING A VERY DIFFICULT TIME. THEY HAD HAD A NUMBER OF WAYS THEY TRIED IN THE PAST TO KEEP THE COUNTRY TOGETHER. THEY HAD THE ARTICLES OF CONFEDERATION, AND THEY KNEW IT WASN'T APPROPRIATE, IT WASN'T WORKING. AND IN JUNE OF 1787, A DELEGATE FROM CONNECTICUT MADE THE -- CAME TO THE CONCLUSION THAT HE HAD AN IDEA HOW HE MIGHT BE ABLE TO SUGGEST TO THE OTHER MEMBERS IN THE DELEGATION, THE FOUNDING FATHERS, HOW THEY COULD COME UP WITH THE CONSTITUTION. THAT'S WHY THEY WERE THERE. AND HIS SUGGESTION WAS REALLY FULL OF MERIT, BECAUSE THEY HAD NOT BEEN ABLE TO SOLVE THE PROBLEM OF THE GREAT STATE OF NEW YORK, HUGE IN AREA AND MILLIONS OF PEOPLE, AND A LITTLE STATE OF CONNECTICUT -- VERY SMALL IN AREA AND JUST A FEW PEOPLE. HOW COULD THOSE TWO STATES BE TOGETHER IN THE SAME UNION? THEY HAD ALREADY DECIDED THEY WERE GOING TO HAVE THREE SEPARATE BRANCHES OF GOVERNMENT. BUT THEY -- THE PROBLEMS THEY HAD IN PHILADELPHIA THOSE MANY YEARS AGO WAS HOW TO HANDLE THE GOVERNMENT. LEGISLATIVE BRANCH OF THE DELEGATE FROM CONNECTICUT CAME UP WITH THE IDEA, IT WAS CALLED THE GREAT COMPROMISE. AND HIS SUGGESTION WAS NOW, IT BECAME PART OF OUR CONSTITUTION AND ALLOWED THE CONSTITUTION TO BECOME THE REAL THING. HIS SUGGESTION WAS WE'RE GOING TO HAVE ONE BODY OF THE LEGISLATURE, THE HOUSE OF REPRESENTATIVES, THAT WOULD BE ELECTED EVERY TWO YEARS. IF SOMEBODY DIED OR RESCIENCE OVER THERE -- RESIGNS OVER ELECTION. THERE, THEY WOULD HAVE AN NO ONE WHO HAS SERVED IN THE HOUSE OF REPRESENTATIVES HAS GOTTEN THERE OTHER THAN HAVING BEEN ELECTED BY THE MEMBERS OR THE CITIZENS OF THEIR DISTRICT. THE SENATE WOULD NOT BE REPRESENTATIVE OF HOW MANY CITIZENS WERE IN THEIR STATE. EACH STATE GOT THE SAME NUMBER. THAT WAS THE BREAKTHROUGH. IT WAS AN EXPERIMENT BUT A NOBLE EXPERIMENT AND WORKED SO WELL OVER ALL THESE MANY YEARS WHERE YOU HAVE THE LEGISLATIVE BRANCH OF GOVERNMENT CONSISTING OF TWO SEPARATE BODIES BICAMERAL IN NATURE. THERE'S BEEN CONFLICT. THE FOUNDING FATHERS BUILT INTO THE LEGISLATIVE BRANCH OF GOVERNMENT PURPOSELY CONFLICT BECAUSE THEY BELIEVED THAT THAT WOULD BE ENOUGH OFFSET THE POWER OF THE JUDICIAL AND EXECUTIVE BRANCHES OF GOVERNMENT. OVER THE YEARS THINGS HAVE BEEN MUCH WORSE THAN THEY HAVE BEEN IN WASHINGTON IN THE LAST THREE MONTHS. OTHER COUNTRY HAS BEEN SO SUCCESSFUL AS A RESULT OF THE CONSTITUTION THAT GUIDES US. AND I REPEAT THE CONSTITUTION HAS BEEN SO SUCCESSFUL BECAUSE OF THE GREAT COMPROMISE OF THE LEGISLATIVE BRANCH OF GOVERNMENT. IN THE EARLY DAYS OF OUR COUNTRY, THERE WAS CONFLICT THAT WENT ON ALL THE TIME. THEY WERE FROM THE VERY BEGINNING, CAN THIS GREAT COUNTRY SURVIVE. THEN WE HAD THE CONFLICTS THAT DEVELOPED PRIOR TO THE CIVIL WAR. ONE CONGRESSMAN AND SENATOR, HENRY CLAY FROM KENTUCKY, HE WAS KNOWN AS THE GREAT COMPROMISER. HE WORKED FOR GENERATIONS, PLURAL, TO SEE WHAT HE COULD DO REPUBLIC. TO STOP THE DISHRAOUGS OF THE -- THE DISSOLUTION OF THE REPUBLIC, AND HE WAS SUCCESSFUL. ONE MEMBER WAS ENRAGED. CONGRESSMAN BROOKS CAME TO THE FLOOR, CAME TO THE SENATE WITH HIS CANE AND BEAT SENATOR SUMNER, BEAT HIM WITH HIS CANE. RECOVERED. SENATOR SUMNER NEVER REALLY HE WAS OFF WORK FOR A COUPLE OF YEARS. HE HAD PERMANENT DISABILITY AS A RESULT OF THE BEATING HE TOOK ON THE SENATE FLOOR. HISTORIC BATTLES HAVE TAKEN PLACE IN OUR COUNTRY WHERE THEY TALKED, WHERE THEY WERE MUCH MORE DIFFICULT THAN WHAT WE HAVE JUST GONE THROUGH. WHAT WE HAVE GONE THROUGH WAS EXTREMELY DIFFICULT BUT THERE WAS NEVER ANY CONSIDERATION THE REPUBLIC WOULD FALL. IN RECENT YEARS THE CIVIL RIGHTS DISPUTES. MR. PRESIDENT, THE CONGRESS REACTED TO THE SLAVERY -- I'M SORRY -- THE TIMES THAT CAME AFTER THE DISSOLUTION OF SLAVERY, THE CIVIL RIGHTS MOVEMENT, WITH ALL THE DISPUTE THAT TOOK PLACE RIGHT HERE ON THE SENATE FLOOR. IT WAS VERY, VERY HEATED. FILIBUSTERS TOOK PLACE THAT LASTED FOR WEEKS. NOT DAYS. WEEKS. THERE WAS TREMENDOUS ACRIMONY AS A RESULT OF THAT ISSUE DEALING THROUGH THAT. WITH CIVIL RIGHTS, BUT WE WORKED WE WORKED THROUGH THAT. IT WAS HARD. PEOPLE AT THAT TIME THOUGHT THE CONGRESS WAS BROKEN. CONGRESS WAS NOT BROKEN. CONGRESS WORKS THE WAY THAT IT SHOULD. DOES THAT MEAN IT'S ALWAYS A NO. VERY PLEASANT, HAPPY PLACE? AND DO I WISH IT WEREN'T AS DIFFICULT AS IT HAS BEEN THE LAST FEW MONTHS? I WISH IT WERE MUCH BETTER THAN THAT. BUT THAT'S WHERE WE ARE. BUT THROUGH ALL THE YEARS, THROUGH ALL THE CONFLICTS WE'VE HAD, WE'VE BEEN ABLE TO COME CONCLUSION. TOGETHER AND REACH A REASONABLE THE GREAT EXPERIMENT THAT STARTED IN 1787 HAS BEEN VERY SUCCESSFUL. A NUMBER OF PEOPLE IDENTIFIED OUR SYSTEM OF GOVERNMENT HERE, BUT I GUESS THE BEST WAY TODAY TO TALK ABOUT IT IS WHAT WINSTON CHURCHILL SAID ABOUT DEMOCRACY. HERE'S WHAT HE SAID. IT'S BEEN SAID THAT DEMOCRACY IS THE WORST FORM OF GOVERNMENT EXCEPT FOR ALL OTHERS THAT HAVE BEEN TRIED. I, MR. PRESIDENT, AM NOT PROUD OF THE CONFLICT WE'VE HAD THESE LAST MANY MONTHS, BUT I'M SATISFIED THAT WE HAVE BEEN ABLE SOLUTION. TO COME TOGETHER TO FIND A NOW, IT'S NOT OVER UNTIL BOTH HOUSES OF CONGRESS PASS THE LEGISLATION DEALING WITH THE DEBT CRISIS WE HAVE IN AMERICA. IT'S NOT OVER UNTIL THE PRESIDENT SIGNS THAT BILL. BUT AFTER WEEKS OF FACING OFF AGAINST EACH OTHER, THIS PARTISAN DIVIDE WE HAVE HERE IN THE SENATE, WE WERE FINALLY ABLE AGREEMENT. TO BREAK THROUGH WITH AN AN AGREEMENT THAT IS TYPICAL FOR AGREEMENTS THAT ARE DIFFICULT. NO ONE GOT WHAT THEY WANTED. EVERYONE HAD TO GIVE SOMETHING UP. PEOPLE ON THE RIGHT ARE UPSET. PEOPLE ON THE LEFT ARE UPSET. PEOPLE IN THE MIDDLE ARE UPSET. IT WAS A COMPROMISE. IT'S NOT ALWAYS EASY FOR TWO SIDES TO REACH CONSENSUS, BUT THAT'S WHAT WE DID. WE DID IT ON A BIPARTISAN BASIS. SO I BELIEVE THAT REASONABLE REPUBLICANS AND DEMOCRATS ALIKE UNDERSTOOD IN THIS CASE WITHOUT COMPROMISE OUR COUNTRY FACED A VERY, VERY DIFFICULT SITUATION. BUT WE DID SEND, MR. PRESIDENT, TO THE WORLD AND TO THE AMERICAN PEOPLE OUR GREAT DEMOCRACY IS WORKING. AS DIFFICULT AND AS HARD AS IT IS, IT WORKS. SO I LOOK FORWARD TO WORKING WITH MY COLLEAGUES THE NEXT FEW DAYS ON BOTH SIDES OF THE AISLE TO PASS THIS REMARKABLE AGREEMENT WHICH WILL PROTECT THE LONG-TERM HEALTH OF OUR ECONOMY AND THE VERY TKWAUFLT OUR NATION'S -- DEFAULT OF OUR NATION'S DEBT. WE STILL HAVE A LOT OF PROBLEMS BUT THIS IS A GREAT STEP FORWARD. TODAY CONGRESS HAS A UNIQUE RESPONSIBILITY TO SHOW THE WORLD WE CAN ACHIEVE NOT IN SPITE OF OUR DIVIDED GOVERNMENT, BUT BECAUSE OF IT. UNDER THE PREVIOUS ORDER, THE LEADERSHIP TIME IS RESERVED. UNDER THE PREVIOUS ORDER, THE SENATE WILL RESUME CONSIDERATION OF THE HOUSE MESSAGE TO ACCOMPANY S. 627, WHICH THE CLERK WILL REPORT. MOTION TO CONCUR IN THE HOUSE AMENDMENT TO S. 627, AN ACT TO ESTABLISH THE COMMISSION ON FREEDOM OF INFORMATION ACT, PROCESSING DELAYS, WITH AN AMENDMENT. MR. PRESIDENT? THE SENATOR FROM ILLINOIS. MR. PRESIDENT, FIRST LET ME SAY A WORD ABOUT THE LEADERSHIP IN THE SENATE. I HAVE THE GOOD FORTUNE OF WORKING WITH SENATOR HARRY REID AS OUR MAJORITY LEADER IN MY ROLE AS WHIP OR ASSISTANT. I AM CLOSE AT HAND WHEN MOST OF MADE. THE MAJOR DECISIONS ARE BEING AND I'VE COME TO TAKE THE MEASURE OF THIS MAN FROM NEVADA, FROM SEARCHLIGHT, NEVADA, AND HAVE FOUND HIM TO BE AN EXTRAORDINARY LEADER. AT FIRST BLUSH, MOST PEOPLE WOULD NOT CHOOSE HIM FOR RINGING ORATORY OR COMMANDING PRESENCE, BUT I WILL TELL YOU THAT HE HAS CREATED A LEADERSHIP STYLE IN THE SENATE WHICH IS EXCEPTIONAL. I WATCHED HIM DURING THE SPAN OF THE LAST TWO AND A HALF YEARS PARTICULARLY AS HE HAS FACED A MYRIAD OF CHALLENGES, WITH A NEW PRESIDENT OF HIS OWN PARTY PASSING A STIMULUS BILL WHEN WE DIDN'T HAVE 60 VOTES ON THE AND HAD TO RELY ON A CROSS-OVER VOTE FROM THREE REPUBLICAN SENATORS; DEALING WITH THE TARP CRISIS, THE RECESSION AND WHAT NEEDED TO BE DONE TO SAVE FINANCIAL INSTITUTIONS FROM DISSOLUTION; HIS EFFORTS AS WELL ON THE HEALTH CARE REFORM ACT, WHICH MIGHT HAVE BEEN THE MIGHTIEST POLITICAL BATTLE I'VE EVER BEEN ACT. ENGAGED IN; THE FINANCIAL REFORM THE LIST GOES ON AND ON. AND THEN COMES THIS YEAR WITH A NEW CONGRESS DIVIDED, AND THE REPUBLICAN LEADERSHIP IN THE HOUSE; WHEN HE HAS HAD TO FACE THE PASSAGE OF APPROPRIATIONS BILLS, THE CONTINUING RESOLUTION, AND NOW THE MOST RECENT CRISIS OVER THE EXTENSION OF THE DEBT CEILING. HE IS AN EXCEPTIONAL LEADER, AND I THINK HE IS SUCH AN EXCEPTION BECAUSE OF HIS HUMILITY. HE IS NOT THE FIRST TO THE CAMERA NOR THE LOUDEST IN HIS SPEECH. HE IS A PERSON WHOSE WORD IS TRUSTED AND WHO WORKS NIGHT AND DAY UNTIL WE REACH OUR GOAL. I ADMIRE HIM SO MUCH AS A FRIEND AND AM PROUD TO BE PART OF HIS LEADERSHIP TEAM AND PART OF HIS DEMOCRATIC CAUCUS. I'D LIKE TO SAY A WORD AS WELL ABOUT SENATOR McCONNELL, THE REPUBLICAN LEADER. HE STEPPED FORWARD SEVERAL WEEKS AGO WITH AN EXCEPTIONAL SHOW OF POLITICAL COURAGE WHEN HE MADE A SUGGESTION ABOUT HOW WE COULD CRISIS. FIND OUR WAY THROUGH THIS IT WAS NOT A WELCOME IDEA ON HIS SIDE OF THE AISLE, AND MANY OF HIS CRITICS TOOK HIM TO TASK FOR SUGGESTING HOW WE COULD GET THROUGH THE DEBT CEILING CRISIS. I ADMIRED THE FACT THAT HE STOOD UP AND UNDERSTOOD HIS RESPONSIBILITY, OUR RESPONSIBILITY TO THE NATION BEYOND ANY PARTISAN CONSIDERATION. AND SENATOR McCONNELL PLAYED A CRITICAL ROLE IN WORKING OUT THE AGREEMENT WHICH WILL COME BEFORE US AND IS NOW PENDING BEFORE THE SENATE -- OR WILL BE PENDING BEFORE THE SENATE SHORTLY. I THANK HIM. I THANKED HIM LAST NIGHT PERSONALLY AND I THANK HIM PUBLICLY FOR JOINING IN THIS BIPARTISAN EFFORT ON BEHALF OF THE SENATE WITH SENATOR REID AND WORKING DIRECTLY WITH THE PRESIDENT AND VICE PRESIDENT. I'M ALSO HAPPY THAT THE LEADERS IN THE HOUSE, SPEAKER BOEHNER AND THE MINORITY LEADER, CONGRESSWOMAN PELOSI, WERE ABLE TO WORK TOGETHER TO COME UP WITH THIS AGREEMENT. NOW, THERE ARE HARSH CRITICS OF THIS IDEA, BECAUSE AS SENATOR REID STATED EARLIER, WHAT WE HAVE COME UP WITH AS AN AGREEMENT IS NOT WHAT I WOULD HAVE WRITTEN AND CERTAINLY NOT WHAT ANY SENATOR WOULD HAVE WRITTEN. THERE ARE PARTS OF IT THAT I DON'T CARE FOR AT ALL AND OTHER PARTS THAT I THINK ARE VERY WISE. THAT IS THE NATURE OF COMPROMISE. I DO NOT BELIEVE THAT I HAVE COMPROMISED MY PRINCIPLES AS A PERSON OR ELECTED OFFICIAL IN COMING TO THIS AGREEMENT. AT SOME POINT, YOU HAVE TO SIT AT THE TABLE AND LOOK THE OTHER SIDE IN THE EYE AND REALIZE THEY FEEL JUST AS STRONGLY AS YOU DO, AND THE ONLY COMMON GROUND WE FOUND BETWEEN YOU ARE NOT WHEN YOU GIVE UP OR THE OTHER SIDE GIVES UP. LET ME TELL YOU WHAT I THINK ARE THE PLUSES AND MINUSES OF WHAT WE ARE ABOUT TO CONSIDER DURING THE COURSE OF THIS DAY. FIRST, WE HAVE AVERTED AN ECONOMIC CRISIS IF BOTH THE APPROVE THIS MEASURE. HOUSE AND THE SENATE SHOULD THE NOTION THAT WE WOULD DEFAULT ON OUR NATIONAL DEBT FOR THE FIRST TIME IN OUR HISTORY AS OF MIDNIGHT TOMORROW NIGHT WOULD BE DEVASTATING, DEVASTATE TO GO A WEAKENED ECONOMY WITH MORE THAN NINE MILLION AMERICANS OUT OF WORK. IT WOULD HAVE RAISED AMERICA'S INTEREST RATE ON ITS OWN DEBT, ADDING TO OUR NATIONAL DEFICIT. AS I HAVE SAID ON THE FLOOR MANY TIMES, A 1% INCREASE IN THE INTEREST RATE PAID BY AMERICA COSTS US $130 BILLION MORE ON OUR DEFICIT. SO THE IDEA OF INTEREST RATES GOING UP WOULD ADD TO OUR DEBT, NOT SOLVE OUR DEBT CRISIS. IN ADDITION, IT WOULD FORCE AMERICA. INTEREST RATES UP ALL OVER INDIVIDUALS, BUSINESSES, FAMILIES, THEY WOULD FEEL IT. THEIR CREDIT CARD BILLS AND STUDENT LOAN DEBTS AND AUTOMOBILE LOANS AND HOME LOANS AND BUSINESSES TRYING TO ENGAGE IN BORROWING TO EXPAND THE SIZE OF THEIR BUSINESS FOR THE DEVELOPMENTS THAT THEY ARE UNDERTAKING. THAT IS EXACTLY THE WRONG THING TO DO. AS THE FEDERAL RESERVE STRIVES TO KEEP INTEREST RATES LOW TO PROMOTE GROWTH FOR US TO DO SOMETHING ON CAPITOL HILL WHICH WOULD HAVE THE OPPOSITE IMPACT. SO AVERTING THAT CRISIS WAS THE NUMBER-ONE ACHIEVEMENT OF ANY AGREEMENT THAT WE REACHED AMONG OUR LEADERSHIP. THE FACT THAT WE DON'T HAVE TO REVISIT THIS CRISIS ON A WEEKLY OR MONTHLY BASIS IS ALSO A POSITIVE STEP FORWARD. THERE WAS A FEELING ON BOTH SIDES OF THE AISLE ALTHOUGH NOT AS CLEARLY SPOKEN ON ONE SIDE THAT TO COME BACK AND DO THIS OVER AND OVER AGAIN COULD NOT HELP BUT WEAKEN THE ROLE AND REPUTATION OF THE UNITED STATES IN THE GLOBAL ECONOMY. AND SO WE NOW HAVE AN AGREEMENT WHICH WILL TAKE US TO FEBRUARY OF 2013, BEYOND THE NEXT PRESIDENTIAL ELECTION, GIVING WHOEVER IS ELECTED OR RE-ELECTED AN OPPORTUNITY TO GOVERN AND TO MANAGE THE ECONOMY IN A RESPONSIBLE WAY. THOSE, I THINK, ARE THE MAJOR ACHIEVEMENTS OF THIS. SECONDLY, WE MAKE A DOWN PAYMENT ON THE DEFICIT, AND I THINK THAT IT REALLY CUTS BOTH WAYS. WE NEED TO ADDRESS OUR DEFICIT. THIS NATION CANNOT BE GREAT, CANNOT CONTINUE TO GROW, BORROWING 40 CENTS FOR EVERY DOLLAR ITS GOVERNMENT SPENDS. THAT IS AN UNACCEPTABLE APPROACH, AND WE NEED TO REDUCE THAT DEPENDENCY ON BORROWING AND REDUCE THE DEBT THAT WE'RE CREATING, AND BY REDUCING POINT. SPENDING, THAT'S THE STARTING I WOULD QUESTION WHETHER THIS IS THE RIGHT MOMENT TO DO THAT. I HAPPEN TO BELIEVE, AS OTHERS DO, THAT WHEN YOU'RE IN A RECESSION, TRYING TO CREATE ECONOMIC GROWTH, THAT PULLING BACK ON SPENDING ON SUCH THINGS AS TRAINING AND EDUCATION AND THE BUILDING OF INFRASTRUCTURE BETTER. MAKES THE SITUATION WORSE, NOT I DIDN'T PREVAIL ON THAT POINT OF VIEW AND THIS DOES NOT REFLECT IT, BUT THE FACT THAT WE WILL BE PUTTING SOME MONEY DOWN TOWARD REDUCING OUR DEFICIT IS A POSITIVE THING. I AM ALSO GLAD THAT INCLUDED IN THIS AGREEMENT WHEN IT COMES TO SPENDING CUTS IS PROTECTION FOR THE MOST VULNERABLE PEOPLE IN AMERICA. I CAN'T GET OVER HOW MANY TIMES MEMBERS OF THE HOUSE AND SENATE WILL GET UP AND MAKE GLOWING SPEECHES ABOUT CUTTING SPENDING WHEN THOSE PROJECTS AND PROGRAMS THEY ARE CUTTING REALLY ARE SAFETY NET FOR THE MOST VULNERABLE PEOPLE IN AMERICA. WE ARE TALKING ABOUT THOSE WHO ARE UNEMPLOYED LOOKING FOR WORK. WE ARE TALKING ABOUT THOSE WHO ARE ELDERLY AND POOR. WE ARE TALKING ABOUT THOSE SUFFERING FROM PHYSICAL AND MENTAL DISABILITIES. NATION. WE ARE A GREAT AND CARING WE HAVE CREATED A SAFETY NET OF PROGRAMS SO THAT WE DON'T SEE HOMELESS ON OUR STREETS ANY MORE THAN NECESSARY BECAUSE OF THE INADEQUACY OF OUR PROGRAMS, AND WE DON'T SEE A BLIND EYE WHEN IT COMES TO THE SUFFERING THAT MANY FAMILIES ARE GOING THROUGH. I AM SORRY THAT WE ARE MAKING SOME CUTS, BUT WE ARE PROTECTING MOST OF THE SAFETY NET PROGRAMS SUCH AS MEDICAID, THE HEALTH INSURANCE PROGRAM FOR THE LOWER INCOME PEOPLE IN AMERICA. WHO COUNTS ON MEDICAID? ONE-THIRD OF THE CHILDREN IN AMERICA HAVE THEIR HEALTH INSURANCE THROUGH THE MEDICAID PROGRAM. ALMOST 50% OF THE LIVE BIRTHS IN AMERICA ARE PAID FOR BY MEDICAID. IN ADDITION, MANY ELDERLY PEOPLE, EVEN THOSE ON SOCIAL SECURITY AND MEDICARE HAVE TO TURN TO MEDICAID TO SUSTAIN THEM IN THEIR NURSING HOME AND CONVALESCENT HOME SETTINGS. SO PROTECTING MEDICAID AS PART OF THIS PACKAGE IS A VERY, VERY IMPORTANT THING AS FAR AS I AM CONCERNED. I WOULD ALSO ADD THAT THIS APPROACH THAT WE'RE USING HERE IS MORE BALANCED THAN SOME. I WANT AMERICA TO BE STRONG AND EVERYONE DOES. SAFE. IT'S PART OF OUR CONSTITUTION THAT WE SWEAR TO UPHOLD. BUT THERE IS MONEY BEING WASTED IN THE DEPARTMENT OF DEFENSE. THERE ARE CONTRACTS THAT ARE OVERRUN, MONEY OVERSPENT, AND THERE IS A LACK OF OVERSIGHT. WE CAN SAVE MONEY IN THE DEPARTMENT OF DEFENSE TO REDUCE OUR DEFICIT AND NOT COMPROMISE BY ONE PENNY THE SAFETY AND SECURITY OF THE UNITED STATES. THIS AGREEMENT BEFORE US SAYS THAT BOTH THE DEPARTMENT OF DEFENSE AND ALL OTHER DEPARTMENTS OF THE GOVERNMENT HAVE TO LOOK FOR SAVINGS AND REDUCTION IN SPENDING TO MOVE US GOAL. TOWARD OUR DEFICIT REDUCTION I THINK THAT IS A GOOD THING. NOW, WHAT'S MISSING IN THIS PACKAGE? WHAT'S MISSING IS OBVIOUS. AT ITS BEST, THIS PACKAGE WILL REDUCE OUR DEFICIT BY BY $2.1 TRILLION, MAYBE A LITTLE MORE, WHEN IT COMES TO THE FUTURE SPENDING. MOST OF US BELIEVE THAT UNLESS WE CAN REDUCE OUR DEFICIT BY BY $4 TRILLION -- THAT'S ALMOST TWICE AS MUCH -- OVER A PERIOD OF TEN YEARS, THAT WE WILL NOT MAKE THE POSITIVE IMPACT THAT WE NEED TO MAKE TO SPUR ECONOMIC GROWTH AND MORE CONFIDENCE IN THE AMERICAN ECONOMY. BUT SENATOR REID SUGGESTED, AND IT'S PART OF THIS PROGRAM, THAT WE CREATE A JOINT COMMITTEE TO TRY TO FIND A WAY TO INCREASE THE SAVINGS AND REDUCTION IN DEFICIT IN THE YEARS TO COME. SOME SKEPTICS THIS MORNING HAVE COPOUT. SAID THAT'S A TYPICAL WASHINGTON THEY ARE GOING TO CREATE ANOTHER JOINT COMMITTEE. HAVEN'T WE HAD ENOUGH. YOU CAN MAKE THAT ARGUMENT, BUT I THINK IT OVERLOOKS THE OBVIOUS. WE ARE COMMITTED HERE TO REDUCING OUR DEFICIT. WE ARE COMMITTED TO CREATING A JOINT COMMITTEE THAT COMES UP WITH SPECIFIC PROGRAMS THAT PENALTY. WORK, AND IF WE FAIL, THERE IS A IF THE JOINT COMMITTEE FAILS TO PRODUCE A PRODUCT ENACTED BY THE HOUSE AND SENATE, THERE IS A PENALTY. UNDER OUR LANGUAGE OF LEGISLATION HERE, IT'S KNOWN AS A TRIGGER, AND IT SAYS IF YOU FAIL, IF YOU SHOULD FAIL TO REDUCE THE SPENDING AND REDUCE THE DEFICIT THROUGH THE JOINT COMMITTEE, THERE WILL BE A PRICE PAID. EVEN DEEPER CUTS IN SPENDING ON BOTH THE DEFENSE AND NONDEFENSE SIDE. I DON'T WANT TO SEE IT MOVE IN THAT DIRECTION. I HOPE THAT WE CAN FIND A MORE BALANCED APPROACH AND DO IT THROUGH THE JOINT COMMITTEE. WORKING ON A BIPARTISAN BASIS WITH APPRECIATION AND RESPECT FOR ONE ANOTHER ACROSS THE TABLE, WE CAN REACH THAT GOAL. ERSKINE BOWLES, FORMER CHIEF OF STAFF TO PRESIDENT CLINTON, ALAN SIMPSON, FORMER UNITED STATES SENATOR, COCHAIR OF A COMMISSION THAT I SERVED ON WHERE THEY SAT DOWN AND CREATED A TEMPERATE FOR US TO REACH A DEFICIT AND DEBT REDUCTION -- MEANINGFUL DEBT REDUCTION OVER TEN YEARS OF MORE THAN $4 TRILLION. I THEN TOOK THAT IDEA WITH SOME OTHERS, SENATOR MARK WARNER OF VIRGINIA, SENATOR CHAMBLISS OF GEORGIA, SENATOR CRAPO OF IDAHO, SENATOR COBURN OF OKLAHOMA, SENATOR CONRAD OF NORTH DAKOTA AND SENATOR WARNER OF VIRGINIA AND SAT DOWN WITH A GANG OF SIX SENATORS, AND WE TOOK THOSE IDEAS, TURNING THEM INTO WHAT WE THOUGHT WAS A LEGISLATIVE APPROACH THAT WOULD WORK. I STILL THINK THAT HAS MERIT AND I STILL THINK IT SHOULD BE ACTIVELY CONSIDERED WHEN WE TALK ABOUT THE LONG-TERM REDUCTION OF DEBT. IT IS BIPARTISAN, IT IS HONEST, IT ACHIEVES REAL DEFICIT REDUCTION, AND IT DOES IT IN THE FAIREST POSSIBLE WAY. IT PUTS EVERYTHING ON THE TABLE, EVERYTHING. THERE ARE NO SACRED COWS. EVERYTHING'S ON THE TABLE. IT MEANS IT GOES BEYOND SPENDING CUTS TO THE ENTITLEMENT PROGRAMS WHICH MAKE THOSE OF US ON THE DEMOCRATIC SIDE PARTICULARLY NERVOUS, BUT IT ALSO GOES INTO REVENUE, NEW REVENUE TO REDUCE OUR DEFICIT WHICH MAKES THOSE ON NERVOUS. THE OTHER SIDE OF THE AISLE BUT WHAT WE SHOULD BE NERVOUS ABOUT IS A CONTINUING DEFICIT AND A WEAKENING ECONOMY AND A DEBT LEFT TO OUR CHILDREN. I BELIEVE THAT THIS PROPOSAL THAT'S BEFORE US NOW, THIS AGREEMENT OF THE LEADERS SHOULD BE ADOPTED IN A TIMELY FASHION. I WOULD HOPE THAT WE COULD MOVE TO IT TODAY. WE ARE WORKING WITH THE MATTERS WILL BE CONSIDERED. REPUBLICANS' SCHEDULE WHEN THESE THERE WILL BE THOSE ON THE RIGHT AND ON THE LEFT WHO WILL BE CRITICAL OF THIS AND I CAN UNDERSTAND THEIR THINKING. IT DOESN'T SERVE EITHER SIDE PARTICULARLY WELL. IT IS A COMPROMISE AND A CONSENSUS. I THINK OF ALL THE PEOPLE THAT CONTACTED MY OFFICE FROM ILLINOIS AND BEYOND DURING THE LAST SEVERAL WEEKS, BEGGING US TO DO SOMETHING, NOT TO LET THIS ECONOMY FAIL, TO WORK TOGETHER AND COMPROMISE AND FIND A WAY TO RESOLVE OUR DIFFERENCES. I THINK THAT THIS IS A REASONABLE ATTEMPT TO DO THAT. I WILL SUPPORT IT WITH SOME MISGIVINGS BUT WILL SUPPORT IT, BELIEVING THAT IT GIVES TO US THE WAY TO GET THROUGH THIS CRISIS AND TO MOVE TO A BETTER PLACE WHERE WE DEAL WITH THIS DEFICIT AND DEBT IN A RESPONSIBLE, BIPARTISAN MANNER, ASKING FOR SHARED SACRIFICE FROM ALL THOSE ACROSS AMERICA WHO CAN MAKE A SACRIFICE. THAT IS THE NATURE OF OUR NATION, IT'S THE NATURE OF OUR HISTORY WHERE TIME AND AGAIN WE HAVE RALLIED AS A NATION TO FACE EVEN MORE DAUNTING CHALLENGES IN THE PAST. MR. PRESIDENT, I YIELD THE FLOOR AND SUGGEST THE ABSENCE OF A QUORUM. THE CLERK WILL CALL THE ROLL. QUORUM CALL: QUORUM CALL: MR. PRESIDENT? THE SENATOR FROM OHIO IS RECOGNIZED. I ASK UNANIMOUS CONSENT TO DISPENSE WITH THE WITHOUT QUORUM CALL. OBJECTION. UNDER THE PREVIOUS ORDER, THE SENATE STANDS IN RECESS UNTIL 12:30 P.M. WELL, THE SENATE'S IN RECESS UNTIL 12:30 EASTERN. SENATORS ARE ATTENDING THEIR PARTY CAUCUS MEETINGS THIS MORNING TO DISCUSS THE DEBT CEILING AGREEMENT HAMMERED OUT OVER THE WEEKEND. WHEN THEY RETURN, WE EXPECT A DEBATE ON THE DEBT CEILING WITH A VOTE ON THE MEASURE POSSIBLE LATER TODAY.