Madam President, I ask unanimous consent that the order for the quorum call be rescinded. Madam President, day after day here on the floor of the Senate and back in their States, many of my…
Madam President, I ask unanimous consent that the order for the quorum call be rescinded.
Madam President, day after day here on the floor of the Senate and back in their States, many of my colleagues talk to the American people about how deeply concerned they are about the deficit and the national debt. They tell us that we just don't have enough money to expand Medicare, to cover dental care for seniors, to cover hearing aids, to cover eyeglasses. We just don't have enough money to do what every other major country on Earth does, and that is guarantee paid family and medical leave.
At a time when hundreds of thousands of bright young people are unable to afford a higher education and millions are struggling with student debt, my colleagues tell us that we just don't have enough money to provide 2 years of free tuition at community colleges.
When we have over 500,000 Americans sleeping out on the streets, including a few blocks away from the Nation's Capitol, we just don't have enough money to build the low-income and affordable housing this country needs.
At a time when the scientists are telling us that we face an existential threat in terms of climate change, we are told that we just don't have enough money to transform our energy system away from fossil fuel and create a planet that will be healthy and habitable for our kids and future generations. Just don't have enough money.
Yet, today, the U.S. Senate will begin consideration of an annual defense budget that costs $778 billion--$778 billion for one year. That is $37 billion more than President Trump's last defense budget and $25 billion more than what President Biden requested.
By the way, all of this money is going to an Agency, the Department of
Defense, that continues to have massive cost overruns year after year, wasting enormous amounts of money, and is the only major governmental Agency in the Federal Government not to successfully complete an independent audit.
Now, isn't it remarkable how, even as we end the longest war in our Nation's history, the war in Afghanistan, concerns about the deficit and the national debt seem to melt away under the influence of the military-industrial complex. People sleeping out on the street, people dying because they don't have any healthcare, kids unable to get the early childhood education they need--not a problem. Can't afford to pay for those things, but somehow, when it comes to the defense budget and the needs of the military-industrial complex, we just cannot give them enough money.
But that is not all, and I want the American people to know this, as I suspect many don't.
It is very likely that in the Defense bill or attached to the Defense bill, there will be a so-called competition bill, and this bill is a $250 billion bill that includes $52 billion in straight corporate welfare, with no strings attached, for a handful of extremely profitable microchip companies.
Now, is there a problem in that our country is not producing the kinds of microchips and the number of microchips that we should? The answer is yes. It is an issue we have to deal with, but we can deal with it in a way other than simply handing money to a handful of enormously profitable corporations with no protection for the taxpayers at all.
By the way, I should also mention that as part of the so-called competition bill, there is also a $10 billion handout to Jeff Bezos, one of the wealthiest people in our country, for space exploration.
Combining these two pieces of legislation would push the pricetag of the Defense bill to over $1 trillion for 1 year. I want people to remember that because when we talk about Build Back Better, we are talking about a 10-year bill. This is 1 year.
Meanwhile, while there is limited discussion about the Defense bill or corporate welfare in the competition bill, Congress has spent month after month discussing the Build Back Better Act, which on an annual basis costs far less than the Pentagon budget, and discussing whether or not we can afford to protect the working families of our country whose needs have been ignored decade after decade, who in many cases are living paycheck to paycheck, can't afford housing, can't afford prescription drugs, and can't afford to send their kids to college. We can't address their needs--no, no, no--because we are too busy worrying about throwing money at the Pentagon and large, profitable corporations.
If there was ever a moment in modern American history when we need to fundamentally review our national priorities, now is that moment. Whether it is transforming our energy system away from fossil fuels; whether it is guaranteeing paid family and medical leave; whether it is providing healthcare to all of our people as a human right, as virtually every other major country does; whether it is taking on the greed of the pharmaceutical industry, which charges us by far the highest prices in the world for prescription drugs; whether it is addressing our crisis of affordable housing or providing childcare and pre-K to the little kids, now is the time to reassess our priorities. Now is the time to fight for real change.
But instead of addressing these major issues that impact the lives of working families all across this country and that the working class of this country desperately wants, Congress comes together, Democrats and Republicans, with minimal debate, to support an exploding Pentagon budget, which is now higher than the next 13 nations combined and represents more than half of our discretionary spending.
After adjusting for inflation, we are now spending more on the military than we did during the height of the Cold War or during the wars in Vietnam or Korea. And I would like to reiterate, this is after the war in Afghanistan has ended. That is why I have introduced an amendment with Senator Markey to reduce the military budget by $25 billion, down to what President Biden requested.
Let's be clear. This is not a radical idea. It is the military spending proposed by the President of the United States and the amount requested by the Department of Defense. I look forward to support on that amendment, especially from the deficit hawks, who I know are very, very concerned about the deficit.
I should also point out that this extraordinarily high level of military spending comes at a time when the Department of Defense is the only Agency of our Federal Government that has not been able to pass an independent audit and when defense contractors are making enormous profits while paying their CEOs exorbitant compensation packages.
Let's not forget that in this so-called competition bill, there will be a provision which provides $53 billion in emergency appropriations for the microchip industry with no strings attached.
Let me repeat that. We are talking about more than $53 billion in Federal funds, and by the way, I suspect there will be more taxpayer money coming to these corporations from State and local government with no strings attached.
Do we need to expand the microchip industry in this country so we can become less dependent on foreign countries? Yes. But we can accomplish that goal without throwing money at these companies with no protections for the taxpayers.
In total, my guess is that five--one, two, three, four, five--major semiconductor companies will likely receive the lion's share of this taxpayer handout. Those companies are Intel, Texas Instruments, Micron Technology, Analog Devices, and NVIDIA.
I should also point out that these five companies made nearly $35 billion in profits last year combined and spent more than $18 billion buying back their own stock.
I should also point out that these five corporations combined paid their CEOs a combined $85 million in compensation last year.
Further, it is important to point out that this is an industry that received nearly $6 billion in government subsidies and loans over the years, and it is an industry that has shut down over 780 manufacturing plants in the United States and eliminated 150,000 American jobs in the last 20 years--29 percent of its workforce--while moving most of its production overseas. In other words, over the years, in order to make more money, they decided to outsource their operations and, in the process, throw American workers out on the street.
So let's be clear what is happening here. In order to make more profits, these companies took good government money and then offshored good American jobs. Now, for that bad behavior, these same companies are being rewarded with some $53 billion in no-strings corporate welfare to undo the damage that they did.
That may make sense to somebody; not to me. That is why I have introduced Senate amendment No. 4722, which would prevent microchip companies from receiving taxpayer assistance unless they agree to issue warrants to the Federal Government. If private companies are going to benefit from over $53 billion in taxpayer subsidies, the financial gains made by these companies must be shared with the American people, not just wealthy shareholders.
In other words, all this amendment says is that if these companies want taxpayer assistance, we are not going to socialize all of the risks and privatize all of the profits.
Let me be very clear. This is not a radical idea. These exact conditions were imposed on corporations that received taxpayer assistance in the bipartisan CARES Act, which passed the Senate 96 to nothing. In other words, every Member of the U.S. Senate has already voted for the conditions that are in my amendment.
CARES was not the first time that Congress passed warrants and equity stakes tied to government assistance. During the 2008 financial crisis, Congress required all companies taking TARP funds to issue warrants and equity stakes to the Federal Government.
The bottom line is that taxpayers should not just be handing out money to large, profitable corporations and well-paid CEOs. They deserve to benefit as well.
In addition to making sure that companies allow for warrants and equity stakes, this amendment would require that these companies cannot buy back their own stock, nor outsource American jobs, nor repeal existing collective bargaining agreements, and remain neutral in any union organizing efforts.
Here is something else--I think people think that I am kidding here, but I am not; this is really true--here is something else that is in the so-called competition bill that must be addressed. Unbelievably, this bill would provide and authorize some $10 billion in taxpayer money to Jeff Bezos, the second wealthiest person in America, for his space race with Elon Musk, the wealthiest person in America. This is beyond laughable, and I will be introducing an amendment to strike this provision. Frankly, it is not acceptable. It is not an issue that we have discussed terribly much, but it is not acceptable that the two wealthiest people in this country, Mr. Musk and Mr. Bezos, take control of our space efforts to return to the Moon and maybe even the extraordinary accomplishment of getting to Mars. This is not something for two billionaires to be directing; this is something for the American people to be determining.
Let me just say a few words about why there is so much waste and fraud and abuse in the military. Again, I always find it amazing how, when it comes to programs directed at ordinary people, low-income people, all kinds of investigations and all kinds of language about how we have to protect the taxpayer from fraud, but when it comes to the massive amount of money that we put into the Pentagon, not a whole lot of attention paid to that.
One of the reasons that we have so many cost overruns and one of the reasons that we have so much fraud and so much abuse is that the Pentagon has been unable to pass an independent audit 30 years after Congress required it to do so--30 years.
I think one of the points that need to be remembered is that on September 10, 2001, 1 day before the terrible attack on our country, then-Secretary of Defense Donald Rumsfeld said, talking about the Pentagon:
Our financial systems are decades old. According to some
estimates, we cannot track $2.3 trillion in transactions. We
cannot share information from floor to floor in this
building--
The Pentagon--
because it's stored on dozens of technological systems that
are inaccessible or incompatible.
Yet, 20 years after that statement--a rather profound statement by then-Secretary of Defense Donald Rumsfeld--the Pentagon has still not passed a clean audit despite the fact that the Pentagon controls assets in excess of $3.1 trillion or roughly 78 percent of what the entire Federal Government owns.
Just this week, the Pentagon announced that it will fail its fourth consecutive financial audit in a row. That is why I have introduced an amendment with Senator Grassley that would require the Pentagon to pass a clean audit this year. If it fails to do so, 1 percent of its budget would be returned to the Treasury each year until it obtains a clean audit operation. I think 30 years is maybe just enough time to make that demand.
I think that at this moment in American history, it is appropriate for the American people and for my colleagues here in the Senate to remember what former Republican President Dwight D. Eisenhower said in 1953 when he was President.
As we all recall, Dwight D. Eisenhower was a four-star general, not a politician, who led the Allied Forces to victory in Europe during World War II. So this was no peacenik. This was a man who saw more death and more military battles than probably any human being should have to.
This is what Eisenhower said:
Every gun that is made, every warship launched, every
rocket [fired], signifies in the final sense a theft from
those who hunger and are not fed, those who are cold and are
not clothed. This world in arms is not spending money alone.
It is spending the sweat of its laborers, the genius of its
scientists, the hopes of its children.
That was Dwight D. Eisenhower, and that is what he said 68 years ago. It was true then. It is even more true now.
If the horrific coronavirus pandemic has taught us anything--a pandemic which has cost us now almost 700,000 lives--it is that national security means more than just building bombs or missiles or jet fighters or tanks or submarines or nuclear warheads and other weapons of mass destruction. National security also means doing everything that we can to protect the lives of ordinary Americans, many of whom have been abandoned by their government for decades. These are people, right now, who are struggling to put food on the table, people who are now experiencing a lower life expectancy than was the case in the past, and these are people who, in many instances, when they get sick, can't even afford to go to a doctor.
When we analyze the Defense Department's budget, it is important to note that Congress has appropriated so much money to the Defense Department that the Pentagon literally does not know what to do with it. According to the GAO, over the course of 11 years, the Pentagon returned an astonishing $128 billion in excess funds back to the Treasury.
And, over the past two decades, while we have funneled out money to the defense contractors, it is important to note that virtually every major defense contractor in the United States has been fined for misconduct and fraud, all while making huge profits. Since 1995, Boeing, Lockheed Martin, and United Technologies have paid over $3 billion in fines or related settlements for fraud or misconduct. Meanwhile, the CEOs of these large defense companies enjoy incredibly large compensation packages--in fact, on average, over 100 times more than does the Secretary of Defense.
I have also filed an amendment with Senator Markey and Representative Ro Khanna, in the House, to finally end all U.S. support for the Saudi war effort in Yemen. This amendment simply codifies the prohibition on support for the Saudi war, and it already passed both Houses of Congress, in 2019, in a bipartisan way. At that time and in 2019, various officials now in the Biden-Harris administration signed a letter supporting this measure. The House has already passed this amendment for the third consecutive year. It is long overdue for this provision to be included in the final Defense policy bill that is sent to the President's desk.
In addition to Yemen, I have longstanding concerns about the situation in Gaza. That is why I have introduced an amendment to request a series of reports on the humanitarian crisis in Gaza and on steps that the United States can take to ease that crisis and bring desperately needed humanitarian and reconstruction aid to the Palestinian people in Gaza.
I would also point out that, when I talk about healthcare, I talk about dental care, and I think most healthcare experts understand that dental care is part of healthcare. In my home State of Vermont, veterans who are eligible for dental care at the VA have no access to a VA dental facility. That is why I have introduced an amendment to the NDAA to require the Department of Veterans Affairs to maintain a dental clinic in every State of this country so that all veterans have access to the dental care that they need.
I believe in a strong military, but I do not believe that we can keep throwing more money into the Pentagon than it needs at a time when working families all across this country are struggling to put food on the table for their kids and when 140 million Americans can't afford the basic necessities of life without going into debt.
In 1967, Dr. Martin Luther King, Jr., warned us that ``a nation that continues year after year to spend more money on military defense than on programs of social uplift is approaching spiritual death.''
Dr. King was right. That was true in 1967. It is true today.
Let me just conclude with another quote from one of the great Republican Presidents in American history, and he is Dwight D. Eisenhower. This is what he said as he was leaving office back in 1961.
He said:
In the councils of government, we must guard against the
acquisition of unwarranted influence, whether sought or
unsought, by the military industrial complex. The potential
for the disastrous rise of misplaced power exists and will
persist.
That was Dwight Eisenhower, and what he was talking about was the incredible power then of the military-industrial complex--of the revolving door, where people go from the military into defense companies. It was true then; it is truer now; and that truth is manifested in the fact that we have a bill which is now spending $25 billion more than the President of the United States requested.
I yield the floor.