I ask unanimous consent that the quorum call be rescinded. I ask unanimous consent that I be permitted to engage in a colloquy with my Republican colleagues for up to 30 minutes. Mr. President, I come to the floor today as the Nation…
I ask unanimous consent that the quorum call be rescinded.
I ask unanimous consent that I be permitted to engage in a colloquy with my Republican colleagues for up to 30 minutes.
Mr. President, I come to the floor today as the Nation watches the activities in the Capitol and on Capitol Hill as someone from the State of Wyoming, where we live within our means and balance our budget every year, and as a result we actually have a surplus in the State. Contrast that to what is happening in Washington with an incredible debt--$14 trillion--more than people can actually fathom.
But people understand spending more than they have or more than comes in, and families all around the country realize they can't do that. Well, in America, as a nation we have been doing that for many years-- spending money we don't have, sending out more than comes in, to the point we have had to borrow and borrow and borrow and borrow. Each time we borrow too much, which continues to happen, we have to raise the debt ceiling--the amount of money that can be borrowed.
The President has now asked that we raise the debt ceiling again, but he has asked that it be raised the largest amount in the history of our country--in the history of this great land. That has an impact on people and families all around the country. They are concerned because they know they can't spend more than they bring in, they can't spend more than they have.
They think back to the days of John Kennedy saying: ``Ask not what your country can do for you, ask what you can do for your country,'' and people in Wyoming are concerned that it may switch one day to: Ask not what your country can do for you, ask what your country must do for China because last year, of every dollar we spent in this country, 41 cents of it was borrowed, half of it from overseas, and a lot of it from China.
So how do we stay a great and strong nation, the leader of the world, when we owe that kind of money to another country--a country that does not necessarily have our own best interests at heart?
That is why as this debate and discussion is going on about the debt ceiling, the debt limit, people in Wyoming tell me their biggest concern is not the debt limit, it is the debt. The debt is the threat. It is a threat to our own national security. Those aren't just my words; those are the words of the Chairman of the Joint Chiefs of Staff who said the greatest threat to our national security is our debt.
So I am so pleased to be joined on the floor of the Senate by my colleague from Nebraska, a neighbor, a next-door neighbor, a former Governor of Nebraska, who, as a Governor, lived with a system where he had to balance the budget every year, and the buck stopped with him.
So I ask my colleague from Nebraska, a former Cabinet Member who has run a major Cabinet and a department within the U.S. Government, perhaps he could share with us what was involved in having to make those tough decisions and actually being held to make those decisions.
Mr. President, I appreciate the comments of the Senator from Nebraska. I think about the fact that he had to use honest figures, honest accounting.
I see now a proposal by the majority leader that, to me, seems to be full of accounting gimmicks, tricks, things such as using money as savings that was never intended to be spent at all, saying we will save all of this money by not being at war in Iraq or Afghanistan for the next 10 years and counting $1 trillion in savings when there was never even an intention to spend that in the first place. I don't think anyone in this body or on Capitol Hill believes we will be at surge levels for the next 10 years in 2 wars, Afghanistan and Iraq.
So I ask my colleague from Nebraska--and we are also joined by our colleague from South Dakota--he couldn't have done something like that in balancing his budget in Nebraska?
Mr. President, my colleague from South Dakota is here, and he has been a Member of this body longer than I have. To me, this debt ceiling increase seems to be the largest in history by any standard, whether we include inflation or not. I think the previous largest one was $1.9 trillion, and that was also with this President.
So when we think about this President and what he inherited and where we are now, it seems to me--I would ask my colleague from South Dakota to respond--it just seems he is making it worse.
It is interesting because my colleague from South Dakota mentioned this figure, this two point some trillion dollars. People in Wyoming last week said: How do they come up with that number? Like the Senator, I agree that for every $1 they want to increase the debt limit, they should say we should find $1 of real savings, honest savings, savings you can point to, as the Senator needed to do as Governor, and as we believe here.
That is what the approach they are dealing with in the House does. They have come up with a way to raise the debt ceiling, deal with avoiding a default, and they extend this for a number of months.
People say: Well, how do you get this $2.4 trillion number? The President had a White House press conference last week, on July 22, and he said--it is astonishing. The President of the United States told the country:
The only bottom line that I have is that we have to extend
this debt ceiling through the next election, into 2013.
Not extend the debt ceiling so we can avoid default, not so we can focus on jobs and the economy and the overall debt and the spending, but so that--as he said, his bottom line, the only bottom line, is that we have to extend it beyond the next election.
Then the Treasury Secretary was on one of the television shows on July 24, and he said:
Most important, we have to lift this threat of default . .
. for the next 18 months. We have to take that threat off the
table through the election. . . .
This debt is the threat. This debt of nearly $15 trillion, going to over $20 trillion in the next couple years, to me is the threat. The elections can take care of themselves. I think the American people will be shocked, astonished, and disappointed to hear that is the President's only bottom line.
I do not know what the Senator's comments or thoughts are on that, but I am expecting better.
Mr. President, I ask unanimous consent to have printed in the Record the column that has been referred to, the Charles Krauthammer column from this morning's Washington Post called ``The Great Divide.''
Mr. President, how much time do I have remaining?
I ask unanimous consent to speak for an additional 4 minutes.
I wanted to do that because I also want to have printed in the Record--and I will read just a couple of paragraphs--a letter that appeared in today's Casper Star Tribune by Eric Mitchell. It is titled ``Smarter than you think.'' He says:
I think they think I'm not so smart because I'm too young
to know what they're doing, like raising the national debt.
Don't they know that I owe the country about $45,000? I'm
only 10 years old. I could buy a lot with $45,000. I could
almost buy a home, I could buy property, I could buy a boat
and get fish for family and friends.
He is from Crowheart, WY, a small community.
He said:
I would buy guns and ammunition to hunt for food for my
family. I could buy books so I could learn more. Forty-five
thousand dollars could buy a lot of stuff. That's more than
may dad earns. But it wouldn't buy everything.
This is a 10-year-old. He said:
Government shouldn't try to buy everything. It is my job
and the people's job to buy the things we need. I don't want
the government to think for me. They don't know that I'm a
little brother who doesn't like it when my big brothers tell
me what to do, because they aren't always responsible for
their own things. I don't tell my brothers what to do with
their money. I'm smarter than they think I am. They should
follow the rules.
Here you have a youngster in Wyoming who knows of values, who is raised in a family where they live within their means, lives in a State where we balance our budget every year, and I think the lesson Eric has for the people of Wyoming and the people of this country is one we should listen to: We should live within our means, not spend more than we have, not continue to borrow. And the threat to our Nation, our greatest threat to our national security continues to be the debt, and it is incumbent upon this institution to deal with that.
I ask unanimous consent the letter be printed in the Record.