Floor Statements

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. President, I ask unanimous consent that the Senate now stand in recess subject to the call of the Chair.

Mr. President, thank you very much for your patience and also for being willing to be here when most are doing other things.

Mr. President, what is the pending business?

Mr. President, I ask unanimous consent to vitiate the action with respect to the pending amendments and motion to commit relative to S. 1323.

Mr. President, I now withdraw the pending motion to commit.

Mr. President, I now withdraw the pending first-degree amendment No. 529.

Mr. President, I have an amendment at the desk which is a perfecting amendment.

Mr. President, I ask for the yeas and nays on that amendment.

The yeas and nays are ordered, Mr. President?

Mr. President, I have a second-degree amendment at the desk.

Mr. President, I have a motion to commit the bill with instructions, which is at the desk.

Mr. President, I ask for the yeas and nays on that motion.

Mr. President, I am sorry. I may not have been listening closely enough. Did the Chair order the yeas and nays?

Mr. President, I have an amendment to the instructions at the desk.

Mr. President, I ask for the yeas and nays on that amendment.

Mr. President, I have a second-degree amendment at the desk.

Mr. President, what we have done is put in the process our efforts, sound legislation to end the budget crisis we are in. It, in effect, does everything the Republicans have asked. It is dollar-for- dollar; that is, it increases the amount of spending cuts we make to arrive at $2.7 trillion, which, in effect, would carry the country into sometime in 2013.

It consists of, as I indicated, what Republicans have agreed upon: discretionary spending, $1.2 trillion; mandatory, $100 billion; something called the Overseas Contingency Fund, which is warfighting, that is scored both by CBO and the Office of Management and Budget to the tune of about $1 trillion. That saves about $400 billion in interest. That is $2.7 trillion.

There are other issues in this matter, including it allows us to finish our appropriations bills for the next 2 years. We have a joint committee that will allow us to work to do more for the long term. So it is a sound piece of legislation.

As I indicated, virtually everything we have in there has been suggested by the Republicans, and now they need to take ``yes'' for an answer. We have given them ``yes.''

For example, the Overseas Contingency Fund--this passed the House of Representatives with 5 Republicans voting no; 230, approximately, Republicans voted yes. Over here in the Senate, the same thing came up. Forty Republicans voted for it.

So we should move on. But the sad part is it appears my friends in the House of Representatives are being led by a very determined group to have us default on our debt. They are driven by probably 80 Republicans who seem to be calling the shots. It is unfortunate.

We cannot have a short-term extension. That is what their legislation is that the Speaker indicated he was going to send to us today. Every Democrat--not virtually every Democrat--every Democrat will vote against that legislation. The President, if there was some way it passed--which it will not--would veto it. They are wasting the time of the American people. Now is the time to do what legislators must do, and that is compromise. But my friends in the House, they do not even have to compromise. All they have to do is say ``yes'' because we have given them what they have asked for.

Mr. President, I ask unanimous consent that when the Senate completes its business today, it adjourn until 10 a.m., on Tuesday, July 26; that following the prayer and pledge, the Journal of proceedings be approved to date, the morning hour be deemed expired, and the time for the two leaders be reserved for their use later in the day; that following any leader remarks, the Senate be in a period of morning business until 12:15 p.m., with Senators permitted to speak for up to 10 minutes each, with the time equally divided and controlled between the two leaders or their designees, with the majority controlling the first 30 minutes and the Republicans controlling the second 30 minutes; that following morning business, the Senate proceed to executive session under the previous order; and that the Senate recess following the rollcall vote on the Engelmayer nomination until 2:15 p.m. to allow for the weekly caucus meetings; finally, I ask that at 2:15 the Senate resume consideration of S. 1323, which is the legislative vehicle for the debt limit increase.

Mr. President, there will be a rollcall vote on the confirmation of the Engelmayer nomination tomorrow at approximately 12:15.

Mr. President, if there is no further business to come before the Senate, I ask unanimous consent that it adjourn under the previous order.

Mr. President, following leader remarks, the Senate will resume the motion to proceed to the bill H.R. 2560. The time until 10 a.m. will be equally divided and controlled between the two leaders or their designees. At 10 a.m., I will be recognized to make a motion to table the motion to proceed; therefore, Senators should expect a rollcall vote at approximately 10 a.m. To accommodate Senators on both sides, this vote will take a little longer than usual.

I say to you, Mr. President, and to everyone within the sound of my voice, this is an effort to move this piece of legislation off the floor. It is interfering with the negotiations between the White House and the House of Representatives, and it is without merit. This is a motion to table. It is a vote on this bill. And we on this side of the aisle are going to look at every vote cast. We feel comfortable where we are on this issue, and I would suggest to my Republican friends that they should look at where they are on this issue. This is a very, very bad piece of legislation. Anyone voting for it will have to respond in many different ways to the people of their State.

Mr. President, H.R. 2553 is at the desk and due for a second reading.

Mr. President, I object to any further proceedings at this time on this bill.

Mr. President, in about an hour we will vote on the Republicans' so-called cap, cut, and balance legislation. As I have said before--in fact, just a few minutes ago--this is one of the worst pieces of legislation to ever be placed on the floor of the U.S. Senate. It violates the spirit of our Constitution and certainly what we are trying to accomplish here in Washington, and we as a Senate refuse to waste even one more day on this piece of legislation.

We have 11 days left until the United States simply stops paying its bills, and, frankly, we have wasted too much time already. The U.S. House of Representatives needs to know this legislation has expired. It is gone.

Republicans wanted a vote on their radical plan to kill Medicare and Social Security before they would consider helping Democrats avert this crisis. In an hour, they will get that chance. At least one of the Republican Senators went over to a large gathering in the House of Representatives,

I am told, and said: We are going to get at least 60 votes.

Please, Mr. President.

Their extreme plan would, within 25 years, cut in half every Federal benefit on the books, including Social Security, Medicare, Medicaid, military pay, veterans' benefits, and much more. Meanwhile, it would erect constitutional protections for hundreds of billions of dollars in special interest tax breaks to oil companies, corporations that ship jobs overseas, and millionaires and billionaires who are able to buy those yachts and corporate jets for which they get tax benefits.

Republicans have demanded we pass this radical proposal before they will even consider cooperating with Democrats to avert a default crisis that would rock the global financial markets. They are, in effect, holding this Nation's economy hostage and demanding the death of Medicare and Social Security as its ransom. But we all know their failed prescription will fail in the U.S. Senate. They do not have the votes to pass a plan that would balance the budget on the backs of seniors and middle-class families while protecting unfair tax breaks for millionaires and billionaires.

So we must move on, Mr. President. And I want to be very, very clear: There is simply no more time to waste debating and voting on measures that have no hopes of becoming law. We have no more time to waste playing partisan games. As the saying goes, indecision becomes decision with time. Our time is running out before this gridlock--this refusal by the other side to move even an inch toward compromise--becomes a decision to default on our debt. The markets are already reacting to our inaction. Every responsible voice, including those of my Republican colleagues--many of them, at least--has warned that much worse is to come if we do not take action and take it soon. That is a risk we cannot afford to take.

So I ask my Republican colleagues again to join Democrats in seeking common ground. The American people have demanded it of us. Overwhelmingly, they have said a national default is a serious problem--and that is an understatement--and that both parties in Congress must meet in the middle.

We all know there are talks going on between President Obama and Speaker Boehner. I wish them well. We await their efforts. What I am told, there will be revenue measures in that. If that is the case, we know constitutionally the matter must start in the House of Representatives.

I say to both the President and to the Speaker here on the Senate floor, representing my Democrats--and I am confident many Republicans-- be very careful. Show a lot of caution as this negotiation goes forward because any arrangement must be fair to all of America, not just the wealthy.

Would the Chair announce the proceedings for this morning.

Mr. President, I want to say to my friend from West Virginia, he has been a great addition to the Senate. We of course know he replaced the great, the legendary Robert Byrd. The people of West Virginia should be very happy with the performance of Joe Manchin and his executive experience as the Governor of the State of West Virginia, which had an impeccable record with surpluses every year he was there. He has brought this talent to Washington, and it has been very helpful to us all.

Mr. President, I say to all my friends, and new Senators, welcome to the United States.

This is a vote on the piece of legislation that was described by my friend, the chairman of the Judiciary, as well as anyone else: It is violative of our Constitution.

This is a vote on this matter, and we are going to dispose of this legislation as it needs to be so President Obama and the Speaker can move forward on a matter that will have some revenue in it and send it over here, and we can move forward to complete our work to make sure we don't default on our debt.

As a result of our conversation here, I move to table the motion to proceed to H.R. 2560 and ask for the yeas and nays.

Mr. President, I ask unanimous consent that the Senate proceed to a period of morning business until 2 p.m. today, with Senators permitted to speak during that time for up to 10 minutes each.

Mr. President, there will be no further rollcall votes this week. The next vote will be on Monday at approximately 5:30 p.m. I will give a scheduling update later after I confer with the Republican leader.

I note the absence of a quorum.

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. President, the Senate just conducted a very important vote. We have now demonstrated that the House Republicans' cut, cap, and balance bill is over, done, and dead. This was a necessary step, and this step now allows the process to move forward.

Let me take a moment to discuss where we go from here.

Earlier this week, the Republican leader and I were working together on a path to avert insolvency. It was a fallback plan. It was the second choice for everyone, including me, and the Republican leader I am sure. But earlier this week, it looked as though we needed to go to that fallback plan as soon as possible. Thus, earlier this week, it looked as though the Senate would have to originate that legislation, perhaps as soon as today, to avoid default.

During the course of the week, however, circumstances have changed. The Speaker and the President have been working diligently together to reach an agreement on a major deficit-reduction measure. As I said earlier this morning, I wish them both very well. That is very important to our country.

The product on which they are working would address, I understand, both taxes and spending. Under the Constitution, the House of Representatives must originate all revenue measures. Therefore, the path to avert default now runs first through the House of Representatives--that is what the Constitution demands--and we in the Senate must wait for them. Therefore, the Senate does not need to originate legislation today.

Earlier this week, I had announced the Senate would need to be in session this weekend. But based on these changed circumstances--and they change fairly rapidly--that is no longer the case.

So at the close of business today, the Senate will be out until Monday. Over the weekend, of course, there will be all kinds of meetings going on, and I will do my best to monitor closely the talks between the President and the Speaker, and I will await word of their hoped-for success.

We will be back on Monday. The Senate will have at least one vote Monday evening, and the Senate will wait anxiously for the House of Representatives to send us their work product so we can later next week pass legislation to prevent a default in our great country.

I am going to consider moving other legislation in case that does not work in the House of Representatives. I received a letter from Senators today as to some suggestions they have. There is a meeting that is going to take place at 11 o'clock today with the Gang of 6. The Republican leader and I will be in on that meeting. We are doing our very best to keep all Senators, Democrats and Republicans, on top of what is going on. But, frankly, in fairness to the Republican leader and to me, a lot of what is going on we don't know. So we are, because of the negotiations--at least I am speaking for myself; I can't speak for the Republican leader, but I have not been in the day-to-day negotiations as to what is going on between the President and the Speaker.

For the third time today, I say as sincerely as I can, I wish them well. It is extremely important we address the debt, and it is extremely important we understand we are no longer talking about credit ratings. We are talking about the default of our debt. I hope this weekend brings good sense and common sense and vitality to the work being done between the President and the House of Representatives.

I note the absence of a quorum.

Mr. President, I ask unanimous consent that two fellows in Senator Bingaman's office, Charlayne Hayling and Sandra Wilkniss, be granted floor privileges during consideration of H.R. 2560.

I suggest the absence of a quorum.