| 00:00:45 | MR. |
| 00:00:46 | WARNER: MADAM PRESIDENT? |
| 00:00:47 | THE PRESIDING OFFICER: THE SENATOR FROM VIRGINIA. |
| 00:00:49 | MR. WARNER: MADAM PRESIDENT, I ASK THE PROCEEDINGS UNDER THE QUORUM BE DISPENSED WITH. |
| 00:00:54 | THE PRESIDING OFFICER: UBGS. |
| 00:00:55 | MR. |
| 00:00:56 | WARNER: I HAVE FIVE UNANIMOUS CONSENT REQUESTS FOR COMMITTEES TO MEET DURING TODAY'S SESSION OF THE SENATE. |
| 00:01:00 | THEY HAVE THE APPROVAL OF THE MAJORITY AND MINORITY LEADERS. |
| 00:01:02 | I ASK UNANIMOUS CONSENT THESE REQUESTS BE AGREED TO AND THESE REQUESTS BE PRINTED IN THE RECORD. |
| 00:01:06 | THE PRESIDING OFFICER: WITHOUT OBJECTION. |
| 00:01:09 | MR. |
| 00:01:10 | WARNER: MADAM PRESIDENT, I RISE TODAY TO TALK ABOUT A SUBJECT THAT I KNOW I AND THE PRESIDING OFFICER AND A NUMBER OF OUR COLLEAGUES HAVE SPENT AN ENORMOUS AMOUNT OF TIME ON, AND THAT IS THE CHALLENGES OF OUR FISCAL CIRCUMSTANCES. |
| 00:01:26 | BEFORE I START, I WANT TO MAKE TWO COMMENTS. |
| 00:01:30 | ONE, I WANT TO JOIN SO MANY OF MY OTHER COLLEAGUES WHO HAVE COME TO THE FLOOR IN THE LAST FEW DAYS TO CELEBRATE THE LEGACY OF OUR DEPARTED COLLEAGUE, SENATOR INOUYE. |
| 00:01:42 | I DIDN'T KNOW HIM AS LONG AS MANY OF OUR COLLEAGUES DID, BUT IN THE FOUR YEARS THAT I SERVED IN THIS BODY, HE WAS TRULY SOMEONE WHO WAS ALWAYS A GENTLEMAN AND REPRESENTED THE BEST OF WHAT I THINK THE UNITED STATES SENATE IS ALL ABOUT. |
| 00:02:01 | MADAM PRESIDENT, I AM ONE OF, AGAIN -- I WANT TO, AGAIN, AS I MENTIONED, SPEND TODAY TO TALK ABOUT THE NEED OF OUR COUNTRY TO HAVE A BALANCED DEAL ON THE DEBT AND DEFICIT AND TO AVOID THE FISCAL CLIFF. |
| 00:02:16 | WE'VE SEEN THESE CONVERSATIONS GOING BACK AND FORTH BETWEEN THE PRESIDENT AND THE SPEAKER, HOPING -- I THINK SPEAKING FOR MANY -- THAT THEY WOULD REACH SOME DEAL. |
| 00:02:27 | I AM VERY DISAPPOINTED WITH THE ACTIONS, RECENT ACTIONS WITH THE SPEAKER WITH HIS SO-CALLED PLAN "B," A PLAN "B" THAT WOULD DO NOTHING TO MAKE A SIGNIFICANT DENT IN THE FISCAL CHALLENGES. |
| 00:02:43 | AND I THINK MANY OF US ON OUR SIDE AND I IMAGINE MANY ON THE REPUBLICAN SIDE WILL REALIZE THAT THAT IS NOT AN APPROACH THAT WILL GET US WHERE WE NEED TO GO. |
| 00:02:53 | THERE HAVE BEEN MANY OF US IN THIS BODY WHO HAVE BEEN WORKING ON THIS ISSUE FOR A NUMBER OF YEARS. |
| 00:03:00 | I THINK MANY OF THE AMERICAN PUBLIC IS GROWING FAIRLY TIRED OF HEARING ABOUT THE FISCAL CLIFF AND WHY THIS HAS ALL COME ABOUT AND WHY ALL OF A SUDDEN ARE WE ONLY NOW FOCUSING ON THIS ISSUE. |
| 00:03:14 | THE FACT IS OUR NATION HAS BEEN ON AN UNSUSTAINABLE FISCAL PATH FOR SOME TIME. |
| 00:03:20 | WE ARE CURRENTLY $16 TRILLION IN DEBT. |
| 00:03:25 | AND EVERY DAY THAT WE DO NOTHING, WE ADD $3 BILLION IN DEBT TO THAT TOTAL. |
| 00:03:34 | DEBT THAT AT ONE POINT WILL HAVE TO BE PAID BY OUR GRANDCHILDREN TASS' GOTTEN LARGE -- AS IT'S GOTTEN LARGER BY OUR CHILDREN. |
| 00:03:44 | IN REALITY THOSE OF US IN THIS BODY HAVE TO DEAL WITH RIGHT NOW AND START PAYING. |
| 00:03:50 | AS WE LOOK AT THIS DEBT THERE IS NOTHING THAT IS SELF-CORRECTING. |
| 00:03:54 | TIME ALONE WILL NOT SOLVE THIS PROBLEM. |
| 00:03:56 | WHAT I HEAR AROUND VIRGINIA, AND I'M SURE THE PRESIDING OFFICER HEARS AROUND MISSOURI, HOW DID WE GET HERE AND GET TO BE IN SUCH A TRAUMATIC, DIFFICULT POSITION IN THE LAST 12 YEARS, WHEN 12 YEARS AGO OUR COUNTRY WAS LOOKING AT SURPLUSES? |
| 00:04:14 | I THINK AS A FORMER BUSINESS GUY, LOOKING AT WHAT OUR NATION HAS DONE -- AND CANDIDLY, BOTH PARTIES HAVE BEEN RESPONSIBLE FOR THIS -- IT'S NOT TOO HARD TO UNDERSTAND WHY WE ARE IN SUCH A DEEP HOLE. |
| 00:04:26 | OVER THE LAST 12 YEARS WE'VE DONE TWO THINGS, OR WE'VE DONE A SERIES OF THINGS THAT HAVE PUT US IN AN UNSUSTAINABLE POSITION. |
| 00:04:35 | ON THE REVENUE SIDE, WE CUT TAXES BY $4. |
| 00:04:39 | 5 TRILLION OVER TEN YEARS. |
| 00:04:43 | LARGEST TAX CUTS IN AMERICAN HISTORY. |
| 00:04:46 | IF WE HAD SIMPLY CUT TAXES $4. |
| 00:04:51 | 5 TRILLION OVER TEN YEARS AND DONE NOTHING ELSE ON THE SPENDING SIDE, WE MIGHT HAVE BEEN ABLE TO SUSTAIN THAT. |
| 00:04:57 | BUT AT THE VERY TIME THAT WE TOOK THIS DRAMATICALLY DECREASE IN OUR REVENUES, WE DID FIVE THINGS ON THE SPENDING SIDE, THINGS THAT WERE FOR THE MOST PART SUPPORTED BIPARTISAN THAT MAKE OUR FINANCIAL SITUATION UNSUSTAINABLE. |
| 00:05:14 | FIRST, IN THE AFTERMATH OF 9/11, WE DOUBLED OUR DEFENSE SPENDING. |
| 00:05:21 | SECOND, ALSO IN THE AFTERMATH OF THE CHALLENGES WE FACE IN A VERY DANGEROUS WORLD AFTER 9/11, WE CREATED A WHOLE NEW CATEGORY OF GOVERNMENT SPENDING CALLED HOMELAND SECURITY. |
| 00:05:32 | AGAIN, MUCH OF IT NECESSARY. |
| 00:05:34 | THIRD, WE DID SOMETHING THAT IN AMERICAN HISTORY WAS UNPRECEDENTED. |
| 00:05:39 | OUR NATION WENT TO WAR NOT ONCE, BUT TWICE WITHOUT ASKING ANY AMERICANS ANY LEVEL OF SACRIFICE BEYOND OUR MILITARY AND THEIR FAMILIES, AND THE COST OF THOSE WARS DIDN'T EVEN -- NORMALLY GO THROUGH AN APPROPRIATIONS PROCESS. |
| 00:05:58 | THEY ALL WENT ON THE CREDIT CARD. |
| 00:06:01 | FOURTH, WE RECOGNIZE IN OUR COUNTRIES THAT OUR PARENTS AND GRANDPARENTS WERE HAVING INCREASING BURDENS WITH THE HIGH COST OF PRESCRIPTION DRUGS, SO WE CREATED A BRAND-NEW ENTITLEMENT PROGRAM, BIPARTISAN SUPPORTED, MEDICARE PART-D. |
| 00:06:17 | BUT AGAIN, DIDN'T PAY A DIME FOR IT. |
| 00:06:20 | AND ON TOP OF ALL THAT -- AND THIS IS ONE OF THE BIGGEST CHALLENGES WE HAVE, AND THIS IS ACTUALLY A BLESSING. |
| 00:06:27 | WE ARE ALL LIVING A LOT LONGER THAN ANYONE WOULD HAVE ANTICIPATED. |
| 00:06:33 | THE GUY WHO ORIGINALLY SET 65 AS RETIREMENT AGE WAS BISMARCK WHEN HE WAS PREMIER OF GERMANY IN THE 1870'S. |
| 00:06:41 | HE SET IT BECAUSE AVERAGE LIFE EXPECTANCY WAS MID 50'S. |
| 00:06:45 | NOW IN THIS COUNTRY WE'RE BLESSED TO LIVE TO AN AVERAGE AGE OF 80. |
| 00:06:50 | IF YOU'RE A HEALTHY WOMAN IN AMERICA TODAY YOUR YOU'RE AVERAGE AGE 100. |
| 00:07:00 | SO WHAT DOES THIS FISCAL CLIFF MEAN? |
| 00:07:02 | IT MEANS THAT THE GAP BETWEEN OUR REVENUES AND OUR SPENDING IS CLEARLY UNSUSTAINABLE. |
| 00:07:10 | WE NEED TO FIND A SOLUTION BEFORE OUR UNSUSTAINABLE DEBT SWALLOWS OUR ECONOMY. |
| 00:07:17 | SOME FOLKS ARGUE THAT WE DON'T NEED A SOLUTION NOW, THAT WE HAVE TIME AND SPACE AND WE SHOULD STIMULATE THE ECONOMY WITH MORE DEFICIT SPENDING. |
| 00:07:27 | I THINK AN APPROPRIATE MEASURE OF ADDITIONAL STIMULUS ACTIVITIES MAKES SOME SENSE. |
| 00:07:32 | SO I DO SUPPORT INVESTING IN OUR ECONOMY, IN NEW INFRASTRUCTURE, RESEARCH AND DEVELOPMENT AND WORKFORCE INVESTMENTS. |
| 00:07:39 | AS A FORMER BUSINESS GUY, THOSE ARE CHARACTERISTICS THAT ANY STRONG BUSINESS WOULD INVEST IN AND ANY STRONG COUNTRY WOULD INVEST IN IF WE'RE GOING TO GROW. |
| 00:07:50 | BUT THAT ALONE IS NOT ENOUGH. |
| 00:07:53 | AND OUR PROBLEMS WHICH ONLY CONTINUE TO ACCRUE AND GROW OVER THE LONG TERM MUST BE DEALT WITH. |
| 00:07:59 | AND JUST LIKE ANY LARGE ENTERPRISE, THE UNITED STATES GOVERNMENT TURNING IT TAKES TIME. |
| 00:08:06 | AND THE SOONER WE START THAT TURN, THE BETTER. |
| 00:08:09 | SO, AS THIS CRISIS, AS WE GET INTO THE FINAL DAYS BEFORE CHRISTMAS, WE NEED A REAL DEAL NOW, ONE THAT ADDRESSES IN THE LONG RUN AND STARTS BY PHASING IN IMPROVEMENTS THAT WILL START TO ADDRESS OUR PROBLEMS ON THE SPENDING SIDE, REVENUE SIDE AND, YES, ENTITLEMENT SIDE OVER THE COURSE OF THE NEXT 10, 15 AND 20 YEARS. |
| 00:08:33 | SOME PEOPLE LOOK TO EUROPE AND SAY AUSTERITY THERE IS NOT WORKING. |
| 00:08:39 | AND I AGREE. |
| 00:08:43 | AN AUSTERITY PROGRAM THAT'S TOO QUICK CAN ONLY MAKE OUR PROBLEMS WORSE. |
| 00:08:47 | BUT I ALSO SEE PARTS OF EUROPE THAT SAID BY KICKING THE CAN DOWN THE ROAD THEY CAN IGNORE THEIR PROBLEMS. |
| 00:08:56 | AND THE ONLY THING WORSE THAN AUSTERITY IS THE BOND MARKETS FORCING A CRISIS UPON YOUR ECONOMY, FORCING A CRISIS THAT WOULD MAKE A DIVIDE BETWEEN SPENDING AND REVENUES MORE UNSUSTAINABLE. |
| 00:09:12 | IF WE WAIT 3 YEARS, 5 YEARS, 10 YEARS, 12 YEARS FROM NOW WE WILL BE UNABLE TO SAFELY DEAL WITH THESE PROBLEMS. |
| 00:09:18 | THAT'S WHY WE NEED A BALANCED AND RESPONSIBLE DEAL NOW. |
| 00:09:22 | AFTER THE ELECTION, MANY OF MY COLLEAGUES, PARTICULARLY THOSE ON THE REPUBLICAN SIDE, HAVE SORT OF PUBLICLY ACKNOWLEDGED THAT WE NEED NEW REVENUE, HAS TO BE PART OF THE SOLUTION. |
| 00:09:39 | I BELIEVE EVEN SOME OF THE NUMBERS THE PRESIDENT PUT FORWARD IN TERMS OF REVENUE GOALS ARE TOO MODEST IN TERMS OF OF WHAT IS NEEDED TO BE PUT BACK INTO THE REVENUE STREAM NOT TO GROW THE SIZE OF GOVERNMENT BUT TO SIMPLY PAY OUR BILLS. |
| 00:09:51 | IT IS CRITICALLY IMPORTANT THAT THIS NEW REVENUE IS QUANTIFIABLE, SCORABLE, AND MAINTAINS THE PROGRESSIVE NATURE OF OUR TAX CODE. |
| 00:10:02 | SO I, LIKE MANY ON MY SIDE, APPRECIATE THOSE ON THE REPUBLICAN SIDE OF THEIR WILLINGNESS TO ACCEPT THIS REALITY. |
| 00:10:12 | BUT AT THE SAME TIME WE MUST ACKNOWLEDGE THAT EVERY SERIOUS BIPARTISAN GROUP THAT HAS LOOKED AT THE ISSUE OF OUR FISCAL CIRCUMSTANCES UNDERSTANDS THAT IF WE'RE GOING TO PUT OUR FISCAL HOUSE IN ORDER, IN ADDITION TO ACHIEVING ADDITIONAL REVENUE, WE'RE GOING TO HAVE TO FIND ADDITIONAL PLACES TO CUT GOVERNMENT SPENDING AND TAKE ON THE QUESTION OF ENTITLEMENT REFORM. |
| 00:10:40 | I UNDERSTAND THAT MANY OF OUR ENTITLEMENT PROGRAMS ARE A CRITICAL LIFELINE FOR OUR SENIORS AND THOSE WHO ARE THE MOST VULNERABLE AMONG US. |
| 00:10:50 | BUT WE NEED TO ENSURE THAT THESE PROGRAMS ARE ABLE TO CONTINUE NOT JUST FOR THE CURRENT BENEFICIARIES, BUT FOR OUR KIDS AND GRANDKIDS ALIKE. |
| 00:11:02 | AND WE MUST REALIZE THAT ENTITLEMENT REFORM HAS TO BE PART OF ANY LONG-TERM RESPONSE TO OUR FISCAL CHALLENGES. |
| 00:11:14 | MEMBERS COME TO THE FLOOR ALL THE TIME AND THROW OUT LOTS OF FACTS ABOUT THE CHALLENGES AROUND ENTITLEMENTS. |
| 00:11:22 | I THINK I JUST WANT TO CITE TWO THAT SHOWS THAT WHILE, FOR EXAMPLE, MEDICARE AND SOCIAL SECURITY HAVE BEEN REMARKABLY SUCCESSFUL AND MUST BE PRESERVED, THAT THE CURRENT MATH AROUND BOTH THESE PROGRAMS JUST DOESN'T WORK. |
| 00:11:36 | AND MEDICARE, FOR EXAMPLE, AN AVERAGE COUPLE OVER THEIR LIFETIME WOULD PAY IN ABOUT $113,000 IN PAYROLL TAXES. |
| 00:11:48 | NOW, AS THEY HIT ON RETIREMENT, GO ON MAKERS THEY WOULD RECEIVE BACK -- GO ON MEDICARE, THEY WOULD RECEIVE BACK $380,000 IN BENEFITS OVER THEIR LIFETIME. |
| 00:11:58 | OBVIOUSLY, THIS GAP CAN'T BE MAINTAINED. |
| 00:12:03 | HOW WE WERE ABLE TO DO IT FOR SO LONG? |
| 00:12:06 | WELL, FOR A LONG, LONG TIME IN OUR COUNTRY, THERE WERE A LOT MORE FOLKS WORKING PAYING IN THAN THEY WERE FOLKS TAKING OUT. |
| 00:12:12 | WHEN I WAS A CHILD, THERE WERE 16 PEOPLE WORKING FOR EVERY ONE INDIVIDUAL ON MEDICARE OR SOCIAL SECURITY. |
| 00:12:22 | TODAY THAT RATIO HAS GONE DOWN TO THREE FOLKS WORKING FOR EVERY ONE RETIREE. |
| 00:12:27 | AND IN ABOUT 10 TO 12 YEARS THAT RATIO WILL GO DOWN TO TWO PEOPLE WORKING FOR EVERY ONE PERSON ON MEDICARE OR SOCIAL SECURITY. |
| 00:12:37 | AGAIN, PAYING IN AN AVERAGE OF $114,000 IN PAYROLL TAXES, TAKING OUT $380,000 IN HEALTH CARE EXPENSES. |
| 00:12:47 | FOLKS, THE MATH JUST DOESN'T WORK. |
| 00:12:50 | SO WE MUST HAVE A REAL BALANCED AND RESPONSIBLE APPROACH TO DEAL NOT ONLY WITH THIS FISCAL CLIFF BUT TO MAKE SURE THAT THE PROMISE OF MEDICARE, THE PROMISE OF SOCIAL SECURITY IS MAINTAINED. |
| 00:13:06 | BUT THIS IS WHERE WE RUN INTO PROBLEMS, AND I FEAR THAT WE MAY NOT GET TO THE SOLUTION THAT WE NEED. |
| 00:13:14 | KNOWING THAT WE NEED BOTH NEW REVENUE, THAT WE HAVE TO FIND PLACES TO CUT SPENDING, AND REFORM OUR ENTITLEMENT PROGRAMS TO BRING THEM BACK INTO SUSTAINABILITY, WE HAVE TO HAVE A SOLUTION THAT LOOKS AT BOTH SIDES OF OUR BALANCE SHEET. |
| 00:13:29 | AND MEMBERS OF BOTH PARTIES MUST COME TOGETHER TO SUPPORT IT. |
| 00:13:35 | IT'S REMARKABLE IN THIS BODY THAT I THINK THAT THERE ARE STILL MEMBERS WHO BELIEVE THERE IS GOING TO BE A REPUBLICAN-ONLY SOLUTION TO THIS PROBLEM. |
| 00:13:43 | WE SEE THOSE ACTIVITIES COMING SOMETIMES OUT OF THE HOUSE. |
| 00:13:47 | BUT JUST AS THERE'S NOT GOING TO BE A REPUBLICAN-ONLY SOLUTION, THERE IS NOT GOING TO BE A DEMOCRATIC-ONLY SOLUTION AS WELL. |
| 00:13:57 | ONE OF THE REMARKABLE THINGS THAT I'VE FOUND IN MY FOUR YEARS OF SERVICE IN THIS SENATE -- AND I THINK AGAIN ABOUT THE PRESIDING OFFICER, WHO HAS TAKEN ON SO MANY CHALLENGES -- THOSE OF US WHO HAVE TRIED TIME AND AGAIN TO WORK ACROSS THE IRAQ, THERE'S VERY -- ACROSS THE AISLE, THERE'S VERY LITTLE REINFORCEMENT EFFORT EFFORT IN THIS TOWN FOR MEMBERS DO THE RIGHT THING. |
| 00:14:22 | IN FACT, IN MANY CASES, OPPOSITE FORCES DOMINATE. |
| 00:14:26 | A NUMBER OF STAKEHOLDERS USE SCARE TACTICS TO PRESERVE THEIR OWN PORTION OF THE STATUS QUO. |
| 00:14:33 | THEY DRESS UP AND USE MISINFORMATION TO SCARE THE AMERICAN PEOPLE AND RUN ADS AGAINST POLITICIANS WHO WOULD DARE TO BREAK WITH ORTHODOXY IN ORDER TO DRIVE AMERICANS APART. |
| 00:14:47 | NOW, IN THE LAST WEEK OR 10 DAYS WE'VE STARTED TO JUST TAKE A LOOK AT SOME OF THE ADS THAT HAVE STARTED TO RUN IN ALL OF THE HILL PRESS AND PERIODICALS. |
| 00:15:01 | AS I GET EVERY DAY, GROUPS COME IN -- AND I'M SURE THE PRESIDING OFFICER DOES, TOO -- AND THEY SAY, THANKS FOR TRYING TO WORK ON THIS FISCAL CLIFF PROBLEM, THANKS FOR TRYING TO WORK IN A BIPARTISAN WAY, TRY TO GET IT DONE, JUST DON'T TOUCH MEAN. |
| 00:15:20 | WELL, ONE AD WE'VE SEEN RECENTLY, MORTGAGE INTEREST DEDUCTION, TERRIBLY IMPORTANT. |
| 00:15:25 | ANYBODY SAYS TAX REFORM HAS TO TAKE PLACE, GOING TO GENERATE MORE REVENUES. |
| 00:15:33 | MORTGAGE INTEREST IS ONE OF THE BIGGEST TAX EXPENDITURES IN OUR TAX CODE. |
| 00:15:38 | I LIKE THIS ONE. |
| 00:15:40 | CONGRESS: LET'S FRIGHT FRAUD FIRST! WHO HAS NOT HEARD THAT THE SOLUTION TO ALL OF OUR PROBLEMS IS IF WE CAN JUST GET RID OF THE WASTE AND FRAUD? |
| 00:15:48 | WELL, THAT MAY BE PART OF THE SOLUTION SET, BUT THAT'S NOT GOING TO SOLVE $16 TRILLION IN DEBT. |
| 00:15:56 | NEXT WE HEAR, WHO CARES IF MEDICAID AND MEDICARE ARE CUT? |
| 00:16:00 | WELL, THIS IS FROM THE HOSPITALS. |
| 00:16:02 | I KNOW WHAT GREAT JOB HOSPITALS ACROSS VIRGINIA, ACROSS MISSOURI AND ACROSS AMERICA DO. |
| 00:16:10 | BUT IF WE WALL OFF THESE, WHERE ARE WE GOING TO FIND THE ADDITIONAL RESOURCES? |
| 00:16:16 | NEXT WE SEE -- I SEE THIS, "GRAD "GRADUATE MEDICAL EDUCATION. |
| 00:16:24 | " SOMETHING I WANT TO PRESERVE IN THIS DEBATE AS LEAK WE LOOK TO EXPAND HEALTH CARE IN AMERICA. |
| 00:16:32 | WE'VE GOT TO TRAIN MORE DOCTORS TO MAKE SURE PEOPLE CAN RECEIVE THE HEALTH CARE THEY NEED. |
| 00:16:38 | BUT AGAIN, DON'T TOUCH MINE. |
| 00:16:40 | WE COULD GO ALL DAY WITH ADDITIONAL POSTERS. |
| 00:16:42 | HERE AGAIN, THE LAST TIME, LET'S NOT MAKE SURE AIRLINES DON'T PAY ANYMORE. |
| 00:16:46 | LET'S MAKE SURE WE AVOID SEQUESTER. |
| 00:16:48 | LET'S MAKE SURE WE DON'T TOUCH CHARITABLE DONATIONS. |
| 00:16:51 | LET'S MAKE SURE THAT DEFENSE IS NOT TOUCHED. |
| 00:16:54 | WELL, EVERYONE WANTS TO SOLVE THE PROBLEM. |
| 00:16:58 | EVERYONE SAYS, ATTA BOY. |
| 00:17:02 | BUT THEN THEY TURN AROUND AND SAY, ATTA BOY, BUT DON'T TOUCH MINE. |
| 00:17:07 | YOU KNOW, THAT'S NOT HOW THE REAL WORLD WORKS. |
| 00:17:11 | THAT'S NOT WHAT THE FOUNDERS SET UP WHEN THEY CREATED THIS UNIQUE EXPERIENCE IN DEMOCRACY. |
| 00:17:16 | ONE OF THE MOST REMARKABLE THINGS ABOUT THE AMERICAN GOVERNMENT WAS THEY SET UP AN INSTITUTION THAT WAS SLIGHTLY DYSFUNCTIONAL ON PURPOSE -- INDEPENDENT HOUSE, INDEPENDENT SENATE, INDEPENDENT PRESIDENCY. |
| 00:17:28 | THE ONLY WAY THINGS GOT DONE WERE IF ALL GROUPS WORKED TOGETHER. |
| 00:17:37 | WELL, FOR THE PAST TWO MONTHS, THERE'S BEEN -- NOT JUST FOR THE PAST TWO MONTHS BUT FOR MANY, MANY MONTHS, THERE'S BEEN LOTS OF TALK ABOUT THE FORCES OF DIVISIONS AND REFLECTION REFLEXIVE IDEOLOGY. |
| 00:17:54 | WE'RE TIRED OF THESE GROUPS THAT GO AROUND SAYING, SIGN THIS PLEDGE, NOT A DIME OF NEW REVENUE. |
| 00:18:01 | ONE THAT I FIND MOST REPULSIVE -- AND WE'VE SEEN AND I BELIEVE ADDITIONAL REVENUES ARE NEEDED. |
| 00:18:08 | AND IF THERE'S ANY DEAL, THEY WILL BE PART OF ANY DEAL. |
| 00:18:13 | THE PRESIDENT AND SPEAKER HAVE COME TO AN AGREEMENT THAT ADDITIONAL REVENUE MUST BE PART OF THE DEAL. |
| 00:18:18 | BUT THAT'S NOT THE END OF THE DEAL. |
| 00:18:21 | IF WE, THOSE OF US ON THE DEPARTMENTDEMOCRATIC SIDE, SAY WE'VE GOT AN EXTRA TRILLION DOLLARS OF REVENUE, WE CAN WALK AWAY AND SAY WE WERE VICTORIOUS -- WELL, IF WE DO THAT ALL WE'RE DOING IS KICK THE CAN. |
| 00:18:38 | IF WE DON'T HAVE A DEAL THAT IS AT LEAST A MINIMUM OF $4 TRILLION IN DEFICIT REDUCTION OVER THE NEXT TEN YEARS -- AND THAT IS AT THE LOW END -- THEN WE WILL NOT DRIVE -- START TO DRIVE OUR DEBT-TO-G. |
| 00:18:56 | D.P. RATIO BACK INTO A SUSTAINABLE POSITION. |
| 00:18:59 | THE ONLY WAY WE'RE GOING TO GET THERE IS, YES, COUNTING THE CUTS THAT WE'VE ALREADY MADE; YES, LOOKING FOR ADDITIONAL REF; BUT ALSO FINDING ADDITIONAL SPENDING CUTS IN ENTITLEMENT REFORM. |
| 00:19:12 | THE PRESIDENT GETS THIS, AND HE KNOWS WE CAN'T KICK THE CAN DOWN THE ROAD. |
| 00:19:17 | AND WHAT I THINK HAS BEEN REMARKABLE IS THE PRESIDENT HAS LAID OUT HIS PLAN AND HIS VISION, HE HAS ACKNOWLEDGED THAT HE HAS BEEN WILLING TO BE OPEN TO HARD CHOICES, INCLUDING REFORMS TO OUR ENTITLEMENT PROGRAMS, ONE OF WHICH HE HAS SAID HE WOULD BE OPEN TO WITH THE APPROPRIATE PROTECTIONS, SO-CALLED CHAINED C. |
| 00:19:43 | P.I. BUT ONCE THIS WAS EVEN MENTIONED, SOME GROUPS, PROGRESSIVE GROUPS THAT I'M PROUD TO HAVE THE SUPPORT OF, HAVE SAID THAT ANY CHANGE AND ANY CHANGE TO SOCIAL SECURITY OR MEDICARE OR ANYTHING THAT IS AS SINISTER AS A CHAINED C. |
| 00:20:03 | P.I., CAN'T BE PART OF A DEAL. |
| 00:20:05 | FOR THESE GROUPS, THEY SAY ANY SINGLE DOLLAR OF WHAT THEY CONSIDER TO BE A BENEFIT CUT IN THESE ENTITLEMENT PROGRAMS IS UNACCEPTABLE, EVEN IF IT HELPS ENSURE THE SUSTAINABILITY OF SOCIAL SECURITY OR MEDICARE. |
| 00:20:21 | THIS IS NOT A PATH TO A SUCCESSFUL DEAL. |
| 00:20:26 | THIS IS NOT THE PATH, THE KIND OF COMPROMISE AND BALANCE THAT WILL MAKE SURE THAT WE ACTUALLY DO PRESERVE MEDICARE AND SOCIAL SECURITY FOR THE LONG TIME. |
| 00:20:37 | I HAVE TO SAY THAT IT'S SURPRISING TO ME WHEN I HEAR SOME IN MY OWN PARTY WHO COME DOWN AND RIGHTFULLY CALL OUT THOSE ON THE OTHER SIDE WHO DENY THE SCIENCE AROUND CLIMATE CHANGE, AND THOSE ARE THE IS HE -- AND THOSE ARE THE VERY SAME FOLKS WHO SOMETIMES DENY THE MATH AROUND ENTITLEMENT REFORM. |
| 00:21:03 | I'D LIKE TO TAKE A MOMENT TO TALK ABOUT THIS SO-CALLED CHAINED C. |
| 00:21:09 | P.I. CHAINED C. |
| 00:21:12 | P.I. CERTIFIED BY OUR OFFICIAL SCOREKEEPER, THE CONGRESSIONAL BUDGET OFFICE, IS AN ALTERNATIVE MEASURE OF INFLATION THAT TAKES INTO ACCOUNT HOW PEOPLE CHANGE THE MIX OF PRODUCTS AND SERVICES THEY BUY OR SUBSTITUTE AS PRICES CHANGE. |
| 00:21:27 | WHAT DOES THAT MEAN IN ENGLISH? |
| 00:21:30 | IT MEANS THAT IN THE OLD DAYS THE WAY YOU USED TO MEASURE HOW MUCH INFLATION WAS TAKING PLACE WAS IF THE PRICE WENT UP, YOU JUST WOULDN'T BUY BANANAS. |
| 00:21:41 | THIS SAYS IN A MORE REALISTIC ESTIMATION, IF THE PRICE OF BANANAS GOES UP, YOU MIGHT INSTEAD OF BUYING BANANAS BUY APPLES. |
| 00:21:51 | WHAT DOES THAT AFFECT? |
| 00:21:53 | IT MEANS THE CHAINED C. |
| 00:21:54 | P.I. PROVIDES AN UNBIASED ESTIMATE OF CHANGES IN THE COST OF LIVING FROM ONE MONTH TO THE NEXT. |
| 00:21:59 | IS IT A PERFECT FORMULA? |
| 00:22:01 | ABSOLUTELY NOT. |
| 00:22:02 | BUT THERE IS NO PERFECT FORMULA TO MEASURE INFLATION. |
| 00:22:06 | WHAT IS REMARKABLE ABOUT THIS DEBATE -- AND THIS IS JUST ONE SMALL PIECE OF ANY KIND OF COMPREHENSIVE REFORM -- IS THAT EXPERTS ON THE LEFT AND RIGHT AGREE THAT THIS NEW MEASUREMENT FORMULA IS MORE ACCURATE AND MORE APPROPRIATE, AND IT DOES MEAN THAT THE RATE OF INFLATION WILL BE MEASURED AS SLIGHTLY LESS. |
| 00:22:33 | IT ACTUALLY SAYS THAT IT WILL CUT THE RATE OF INCREASE BY ROUGHLY . |
| 00:22:43 | 3%. I'VE HEARD MEMBERS COME OUT HEARD AND SAY, THIS WILL ACCOUNT FOR CHANGES AND DRAMATIC CUTS OF 10%, 15%, 20%. |
| 00:22:51 | THIS IS CUTS OF . |
| 00:22:55 | 3%. NOW, WHO SUPPORTS THIS SO-CALLED CHAINED C. |
| 00:22:58 | P.I.? IT MUST BE ONLY THOSE FORCES ON THE RIGHT. |
| 00:23:03 | YES, GROUPS LIKE THE HERITAGE FOUNDATION AND THE AMERICAN ENTERPRISE INSTITUTE HAVE COME TOGETHER AND SAID, THAT IS MORE ACCURATE MEASURE. |
| 00:23:13 | WHAT HAS NOT BEEN EMPHASIZED IS THAT GROUPS THAT HAVE BONAFIDES ON THE DEMOCRATIC SIDE THAT ARE UNQUESTIONED -- THE CENTER FOR AMERICAN PROGRESS, THE CENTER ON BUDGET AND POLL PRIORITIES, "THE WASHINGTON POST" EDITORIAL BOARD, THE PRESIDENT'S FISCAL COMMISSION, THE BIPARTISAN POLICY CENTER -- HAVE ALL SAID THIS OUGHT TO BE ONE OF THE TOOLS THAT WE USE AS WE LOOK AT TRYING TO MAKE SURE THAT MEDICARE, SOCIAL SECURITY, AND OTHER ENTITLEMENT PROGRAMS ARE REFORMED AND MADE SUSTAINABLE. |
| 00:23:47 | NOW, WHY DO ECONOMISTS SUPPORT CHAINED C. |
| 00:23:51 | P.I. IN? |
| 00:23:52 | BECAUSE IT HONORS COMMITMENT TO MAINTAIN THE PURCHASING POWER OF SPENDING AND REVENUE POLICIES. |
| 00:23:58 | IT PROVIDES SAVINGS ACROSS THE BUDGET -- NOT JUST IN ENTITLEMENT PROGRAMS BUT ACROSS OTHER AREAS. |
| 00:24:05 | IT ALSO RAISES REVENUES. |
| 00:24:06 | AND IT CONTRIBUTES MEANINGFULLY TO THE LONG-TERM FISCAL SUSTAINABILITY OF THE PROGRAMS THAT WE WANT TO PROTECT. |
| 00:24:15 | BECAUSE ACROSS THE GOVERNMENT WE HAVE INDEXED THINGS TO INFLATION INFLATION, THE TAX CODE, THE ENTITLEMENT PROGRAMS, ALL ARE INDEXED -- THEIR RISE AND DECREASE BASED ON INFLATION. |
| 00:24:31 | SO AGAIN, THIS TOOL WHILE NOT PERFECT, ALL THESE GROUPS HAVE SAID NEED TO BE PART OF ANY REFORM. |
| 00:24:36 | THIS IS NOT A NEW IDEA. |
| 00:24:39 | I KNOW PERHAPS ON THIS FLOOR -- BUT THIS IS AN IDEA THAT HAS BEEN DISCUSSED, DEBATED, AND ENDORSED BY THESE GROUPS FROM LEFT TO RIGHT FOR OVER THE LAST TEN YEARS. |
| 00:24:48 | IT DOES, AS I MENTIONED, BOTH INCREASE REVENUES AND LOWER SPENDING, BECAUSE, AGAIN, IT IS A MORE ACCURATE MEASURE OF POLICY ADJUSTMENTS THAT CONGRESS HAS ALREADY SAID TOED SAID ALREADY DECIDED TO MAKE. |
| 00:25:04 | THERE ARE TOMORROW SOME WHO SAY, -- THERE ARE SOME WHO SAY, WHAT WILL THIS DO TO SOCIAL SECURITY? |
| 00:25:09 | THAT IS AN IMPORTANT PART OF THIS CONVERSATION. |
| 00:25:13 | I BELIEVE THAT SOCIAL SECURITY NEEDS TOCK REFORMED. |
| 00:25:15 | AND I BELIEVE THAT SOCIAL SECURITY OUGHT TO TAKE A SEPARATE PATH FROM DEBT AND DEFICIT REFORM. |
| 00:25:21 | AND I UNDERSTAND FOR MANY SENIORS SOCIAL SECURITY IS A LIFELINE, AND IT IS, WITHOUT QUESTION, THE GREATEST SOCIAL PROGRAM IN THE HISTORY OF OUR COUNTRY. |
| 00:25:30 | AND WELL, AS LEGISLATORSAND WE, AS LEGISLATORS NEED PROTECT THAT PROGRAM. |
| 00:25:39 | BUT WHAT WE DON'T HEAR FROM THOSE WHO ADVOCATE FOR SOCIAL SECURITY IS THE RECOGNITION THAT SOCIAL SECURITY IS ON A PATH TO INSOLVENCY. |
| 00:25:46 | IF WE DO NOTHING ABOUT THIS WONDERFUL PROGRAM UNDER CURRENT LAW, IT WILL BASICALLY RUN OUT OF MONEY, WHICH WILL BE A 25% ACROSS-THE-BOARD CUT IN BENEFITS AS EARLY AS 2033. |
| 00:25:58 | AND THAT NUMBER, AS WE CONTINUE TO GROW OLDER, THE ACTUARIES COMING COMING UP EACH YEAR AND MAKING IT EARLIER AND EARLIER. |
| 00:26:08 | NOW, 2033 SOUND LIKE A LONG TIME AWAY. |
| 00:26:11 | WHAT IT MEANS IS THESE -- SOME OF OUR FOLKS WHO WORK HERE, IF YOU'RE 46 YEARS OLD TODAY, YOU KNOW, THAT WOULD MEAN AT AGE 67 YOU WOULD YOUR BENEFITS CUT BY MOORE THANK A QUARTER. |
| 00:26:26 | -- BY MORE THAN A QUARTER. |
| 00:26:28 | UNLESS WE ACT, THIS IS NOT A SELF-CORRECTING PROBLEM. |
| 00:26:31 | NOW, THERE ARE OTHER THINGS THAT WE NEED DO AROUND SOCIAL SECURITY SUCH AS RAISING THE CAP ON THE A INCOME THAT'S TAXED. |
| 00:26:37 | BUT THOSE WHO SAY PUTTING OFF QUESTIONS ABOUT SOCIAL SECURITY OR MEDICARE TO SOME OTHER DAY REFUSE TO ALSO RECOGNIZE THE REALITY THAT NONE OF THIS SELF-CORRECTS AND THAT THE SOONER WE START DOWN THE PATH ON REFORM, THE SOONER THAT WE CAN MAKE SURE THE PROMISE OF THESE PROGRAMS WILL LAST. |
| 00:26:58 | BUT AGAIN, INSTEAD OF WORRYING ABOUT THE POTENTIAL OF A 25% CUT FOR FOLKS WHO ARE 46 YEARS OLD IN SOCIAL SECURITY, THEY TALK ABOUT THE FACT THAT, YES, THAT THERE MAY BE SOME SLIGHT CUTBACK IN IMMEDIATE BENEFITS. |
| 00:27:13 | NOT, THOUGH, 25%, NOT 3%, NOT 1%, BUT . |
| 00:27:19 | 3% DECREASE IN THE AMOUNT OF INCREASE EACH YEAR. |
| 00:27:24 | AND EVEN WITH THAT, THERE ARE WAYS, IF WE USE THIS TOOL, TO MAKE IT MORE FAIR AND BALANCED. |
| 00:27:31 | BECAUSE WE MUST MAKE SURE THAT WE PROTECT THE MOST VULNERABLE IN OUR SOCIETY. |
| 00:27:37 | I WAS PART OF A GROUP -- AND, AGAIN, THE PRESIDING OFFICER, I BELIEVE, WAS SUPPORTIVE OF, THE SO-CALLED GANG OF SIX, WHICH BUILT ON THE PRESIDENT'S COMMISSION ON FISCAL RESPONSIBILITY, THAT SAID IF WE'RE GOING TO DO SOMETHING LIKE CHANGE C. |
| 00:27:53 | P.I., WE ALSO NEED TO MAKE SURE WE ENSURE PROTECTIONS FOR THE MOST VULNERABLE, WHICH BASICALLY INCLUDED THINGS LIKE RAISING THE MINIMUM BENEFIT FOR THAT BOTTOM 20% OF FOLKS ON SOCIAL SECURITY. |
| 00:28:05 | FOR MAKING SURE, AS WE HAVE OUR AGING POPULATION, THAT THOSE INDIVIDUALS THAT OUTLIVE THEIR PENSIONS, AS THE FASTEST-GROWING GROUP OF AMERICANS ARE FOLKS ABOVE THE AGE OF 85, THAT THEY WOULD RECEIVE AN ADDITIONAL BUMP-UP AS WELL. |
| 00:28:22 | AND WE MUST ALSO RECOGNIZE, IF WE'RE LOOKING AT SOMETHING LIKE CHAINED C. |
| 00:28:27 | P.I., WE HAVE SPECIAL OBLIGATIONS TO PROTECT OUR VETERANS AND LEAST FORTUNATE AMONGST US. |
| 00:28:32 | SO ANY USE OF THIS TOOL OUGHT TO HAVE SPECIAL RULES AND EXCLUSIONS FOR VETERANS AND S. |
| 00:28:40 | S.I. BENEFITS. |
| 00:28:41 | AS I MENTIONED BEFORE, I PERSONALLY BELIEVE THAT RAISING THE CAP ON THE PAYROLL TAX IS ANOTHER PART OF THE TOOLS THAT WE OUGHT TO USE. |
| 00:28:50 | BUT TOO MANY OF THE GROUPS THAT ARE ATTACKING THIS OR ANY OTHER EFFORT TO LOOK AT A BALANCED APPROACH OF, YES, ADDITIONAL REVENUE, YES, ADDITIONAL CUTS, ASK, YES, REFORMS TO OUR ENTITLEMENTS DON'T MENTION THAT THERE ARE WAYS TO MITIGATE SOME OF THESE CHALLENGES. |
| 00:29:10 | IT'S ALSO IMPORTANT TO MENTION WITH THESE IDEAS, AT LEAST FROM MY POSITION, EVERY DIME OF IMPACT THE CHAINED C. |
| 00:29:20 | I.P. WOULD HAVE ON SOCIAL -- C. |
| 00:29:22 | P.I. WOULD HAVE ON SOCIAL SECURITY, THOSE SAVINGS WOULD HAVE TO REMAIN SOCIAL SECURITY TO MAKE THE PROGRAM MORE SOLVENT. |
| 00:29:30 | BUT THIS DISCUSSION ABOUT CHAINED C. |
| 00:29:32 | P.I. IS JUST THE CURRENT FLASH POINT. |
| 00:29:34 | YOU KNOW, THE BIGGER ISSUE IS, HOW ARE WE GOING TO GET TO THAT QUESTION OF WHAT I BELIEVE IS, AT MINIMUM, A $4 TRILLION DEAL? |
| 00:29:45 | AND ANY BUDGET DEAL FROM THE SPEAKER AND THE PRESIDENT I BELIEVE WILL PROBABLY CONTAIN ENOUGH THINGS THAT EVERYONE WILL LOOK AT IT AND FIND A LOT TO DISLIKE. |
| 00:29:55 | IF NOT, THEY PROBABLY HAVEN'T DONE THEIR JOB. |
| 00:29:59 | AND TO ANY SINGLE -- TO SINGLE OUT ANY ONE THING AND TO BE ABSOLUTELY OPPOSED TO A DEAL, REGARDLESS OF THE OTHER PARTS OF THE PACKAGE, TO ME WOULD BE THE HEIGHT OF IRRESPONSIBILITY. |
| 00:30:14 | AND, AGAIN, I KNOW THERE ARE OTHERS WHO SAY THAT THIS WHOLE DEBATE ABOUT THE FISCAL CLIFF IS REALLY IMAGINARY AND SIMPLY CREATED BY POLITICIANS. |
| 00:30:27 | WELL, I HAVE TO ACKNOWLEDGE, AS SOMEBODY WHO SPENT 20 YEARS IN BUSINESS AND A NUMBER OF YEARS NOW IN ELECTIVE OFFICE, I DON'T KNOW FOR SURE WHAT THE EFFECT WOULD BE IF WE GO OVER THE CLIFF AND SEE TAXES GO UP ON ALL AMERICANS TO SEE THESE ACROSS-THE-BOARD CUTS TAKE PLACE PLACE. |
| 00:30:49 | BUT I DO KNOW THIS. |
| 00:30:50 | IF THE CHANCE IS ONLY 5% OR 10% OR 15% THAT GOING OVER THE CLIFF WOULD THROW ECONOMY BACK INTO A DEEP RECESSION, THERE WOULD BE NOTHING THAT WOULD ROB MORE AMERICANS AND HURT OUR MOST VULNERABLE CITIZENS MORE THAN BEING -- HAVING THEIR HOUSE GO BACK UNDERWATER BECAUSE OF A RISE IN INTEREST RATES, OR THAT POTENTIAL OF A JOB DISAPPEAR BECAUSE AN EMPLOYER DECIDES TO END UP NO LONGER ACTIVE, OR THAT UNEMPLOYMENT BENEFITS DON'T GET EXTENDED BECAUSE WE CHOSE TO PUNT RATHER THAN DEAL WITH THIS ISSUE. |
| 00:31:29 | AND, AGAIN, WE GO OVER A CLIFF, AND IF THE CHANCES ARE ONLY 10% THAT THIS THROWS US BACK INTO A DEEP RECESSION, UNLIKE IN THE PAST, UNLIKE THE FISCAL CRISIS OF 2008, WE DON'T HAVE EXTRAORDINARY MEASURES OF STIMULUS OR THE FED BEING ABLE TO DRAMATICALLY LOWER INTEREST RATES. |
| 00:31:45 | SO I BELIEVE, MR. |
| 00:31:48 | PRESIDENT, THAT WE DO NEED BALANCED, RESPONSIBLE, AT LEAST $4 TRILLION DEAL. |
| 00:31:55 | A DEAL, AGAIN, THAT I BELIEVE COUNTS THE CUTS WE'VE ALREADY MADE, THAT ADDS ADDITIONAL REAL REVENUE. |
| 00:32:01 | AND AGAIN, AS I MENTIONED EARLIER, I THINK THE PRESIDENT HAS STARTED TOO LOW IN TERMS OF THE AMOUNT OF REVENUE WE NEED. |
| 00:32:06 | WE TOOK $4. |
| 00:32:07 | 5 TRILLION OUT OF THE REVENUE STREAM OVER THE LAST TEN YEARS. |
| 00:32:11 | I THINK TO SAY THAT PUTTING BACK AT LEAST ONE-THIRD OR 40% OF THAT WOULD BE MUCH MORE APPROPRIATE THAN WHAT IS BEING DISCUSSED RIGHT NOW. |
| 00:32:19 | BUT IT DOES MEAN THAT IT'S GOING TO MAKE ALL OF US MAKE SOME HARD CHOICES ABOUT SPENDING AND ABOUT MAKING SURE THAT THE ENTITLEMENT PROGRAMS, WHICH HAVE BEEN SO SUCCESSFUL, ARE SUSTAINED. |
| 00:32:31 | SO I -- IN CLOSING, LET ME JUST MAKE A FEW FINAL COMMENTS. |
| 00:32:35 | I BELIEVE THAT ANY FINAL DEAL MUST ASK THOSE OF US WHO'VE DONE WELL -- AND I'VE BEEN BLESSED IN THIS COUNTRY TO DO VERY WELL -- TO PAY THEIR FAIR SHARE. |
| 00:32:47 | AND BEYOND THAT, WE HAVE TO LOOK AT A TAX REFORM PACKAGE THAT WILL ACTUALLY MAKE OUR TAX CODE SIMPLER, FAIRER AND GENERATE MORE REVENUE THAN EVEN WHAT IS BEING SUGGESTED IN THE CURRENT CONVERSATION. |
| 00:33:00 | IT MEANS, THOUGH, RECOGNIZING THAT YOU CAN'T SOLVE THIS PROBLEM WITH BUDGET CUTS ALONE, IT MEANS THAT MEDICARE AND OTHER ENTITLEMENT REFORM MUST BE SERIOUS AND PART OF THE CONVERSATION SO THAT WE HONOR OUR COMMITMENT NOT ONLY TO THOSE BENEFICIARIES WHO RECEIVE THESE IMPORTANT BENEFITS NOW BUT TO MAKE SURE THAT THAT 20-YEAR-OLD, 40-YEAR-OLD AND 50-YEAR-OLD IS GOING TO HAVE THOSE BENEFITS AS WELL. |
| 00:33:29 | AND NO MATTER WHAT WE DO, WE CANNOT CUT AND TAX OUR WAY ONLY OUT OF THIS PROBLEM. |
| 00:33:33 | IT MUST INCLUDE A GROWTH AGENDA. |
| 00:33:35 | AND, FINALLY, AS I KNOW THE PRESIDING OFFICER HAS MADE POINTS TIME AND AGAIN, IT MUST CONTAIN REAL PROTECTIONS FOR THE MOST VULNERABLE AMONGST US. |
| 00:33:46 | THE PRESIDENT AND THE SPEAKER ARE STILL WORKING AND I'M HOPEFUL THEY'LL GET A DEAL. |
| 00:33:51 | AND WE AS AMERICANS AND AS LEGISLATORS OWE THEM THE SPACE TO MAKE A DEAL. |
| 00:33:55 | THE OPPORTUNITY TO COMBINE THINGS PEOPLE ON EACH SIDE MIGHT NOT LIKE IN ISOLATION WITH POLICIES THAT ADDRESS THESE GREATER CONCERNS. |
| 00:34:04 | BUT NOW IS NOT THE TIME TO BE AGAINST THINGS WITHOUT KNOWING THE CRITICAL DETAILS ABOUT HOW AND WHERE THEY'LL WORK. |
| 00:34:14 | IT'S NOT TO BE ABOUT -- IT'S NOT TIME TO BE CONFUSING THE TRUE FACTS OR THE ACTUAL MATH INVOLVED, REGARDLESS OF WHICH SIDE YOU BELONG TO. |
| 00:34:26 | I'VE SPENT THE LAST 2 1/2 YEARS IN THIS BODY TRYING TO WORK WITH FOLKS ON BOTH SIDES TO GET US TO A DEAL. |
| 00:34:32 | I BELIEVE THERE IS NOTHING THAT WILL DO MORE TO GENERATE JOB GROWTH AND ECONOMIC ACTIVITY THAN MAKING SURE WE HAVE A REAL DEAL THAT DOESN'T KICK THE CAN AND ACTUALLY PASSES MUSTER. |
| 00:34:44 | I HAVE TO ACKNOWLEDGE, AT TIMES, I, LIKE I KNOW MANY OF MY COLLEAGUES, GROW VERY FRUSTRATED WITH THE BACK AND FORTH, AND CLEARLY WHAT IS GOING ON IN THE HOUSE RIGHT NOW IS NOT A SERIOUS EFFORT TO ADDRESS THIS PROBLEM. |
| 00:35:01 | I SEE THE NEW CHAIR OF THE APPROPRIATIONS COMMITTEE HERE AND I'LL WRAP UP. |
| 00:35:05 | I WANT TO COMMEND THE SENATOR FROM MARYLAND, MY GOOD FRIEND, FOR HER NEW POSITION. |
| 00:35:09 | I BELIEVE THAT SHE WILL LEAD US BACK TO A PATH WHERE WE HAVE A REGULAR ORDER TO MAKE SURE THAT WE APPROPRIATELY LOOK AT HOW WE SPEND THE RESOURCES WE RECEIVE. |
| 00:35:20 | BUT WE MUST NO LONGER PUNT ON THIS ISSUE. |
| 00:35:24 | AT MOMENTS OF GREATEST FRUSTRATION -- AND THERE ARE MANY FOR ME, AS I KNOW THERE ARE FOR MANY AMERICANS AS THEY GET TIRED OF HEARING ABOUT THE BACK AND FORTH AND THE KABUKI DANCE THAT'S GOING ON RIGHT NOW -- IS IN MOMENTS OF GREATEST FRUSTRATION, WILL WE GET IT DONE? |
| 00:35:38 | I ALWAYS FALL BACK ON THAT WONDERFUL WINSTON CHURCHILL QUOTE, WHEN CHURCHILL SAID, "YOU CAN ALWAYS COUNT ON THE AMERICANS TO DO THE RIGHT THING AFTER THEY'VE TRIED EVERYTHING ELSE. |
| 00:35:54 | " WELL, IT SEEMS TO ME IN THIS DEBATE, WE'VE TRIED EVERYTHING ELSE. |
| 00:35:59 | WE'VE ACCUSED BACK AND FORTH, WE'VE BEEN UNWILLING TO RECOGNIZE THE REALITY OF THE NEED FOR REVENUES, OR THE RECOGNITION THAT WE HAVE TO MAKE SURE OUR ENTITLEMENT PROGRAMS ARE SUSTAINABLE. |
| 00:36:08 | I HOPE AND PRAY AS WE ENTER CLOSE TO THIS CHRISTMAS SEASON THAT OUR LEADERS AND THEN ALL OF US FROM BOTH SIDES CAN COME TOGETHER AND MAKE SURE THAT WE ADDRESS THIS ISSUE, WHICH I BELIEVE UNTIL WE ADDRESS WE WILL NOT BE ABLE TO ADDRESS THE HOST OF OTHER ISSUES THAT CONFRONT OUR COUNTRY. |
| 00:36:25 | WITH THAT, MR. |
| 00:36:27 | PRESIDENT, I YIELD THE FLOOR. |
| 00:36:30 | MS. MIKULSKI: MR. PRESIDENT? |
| 00:36:31 | THE PRESIDING OFFICER: THE SENATOR FROM MARYLAND. |
| 00:36:32 | MS. MIKULSKI: MR. |
| 00:36:33 | PRESIDENT, WHAT IS THE PENDING BUSINESS BEFORE THE SENATE? |
| 00:36:38 | THE PRESIDING OFFICER: THE PENDING BUSINESS IS H. |
| 00:36:42 | R. 1. |
| 00:36:43 | MS. |
| 00:36:44 | MIKULSKI: WELL, MR. |
| 00:36:45 | PRESIDENT, I RISE AND ASK FOR THREE MINUTES AS IF TO SPEAK IN MORNING BUSINESS. |
| 00:36:50 | THE PRESIDING OFFICER: WITHOUT OBJECTION. |
| 00:36:52 | MS. |
| 00:36:53 | MIKULSKI:MS. |
| 00:36:54 | MIKULSKI: THANK YOU VERY MUCH, MR. |
| 00:36:55 | PRESIDENT. |
| 00:36:56 | I JUST WANTED TO COME TO THE FLOOR -- AND I KNOW OTHER SENATORS ARE SPEAKING -- BUT TO SAY TO THE REST OF MY COLLEAGUES AND TO MANY PEOPLE WHO'VE EXPRESSED INTEREST, THE DEMOCRATIC CAUCUS HAS JUST CONFIRMED ME TO BE THE FULL CHAIR OF THE UNITED STATES SENATE APPROPRIATIONS COMMITTEE. |
| 00:37:16 | I TAKE THE FLOOR TODAY TO ANNOUNCE THAT WITH GREAT HUMILITY. |
| 00:37:22 | I AM FILLING THE FOOTSTEPS OF SENATOR DANNY INOUYE, WHO WAS, INDEED, A GIANT AMONG MEN, A WAR HERO, AND AN ADVOCATE FOR SOCIAL JUSTICE, NATIONAL SECURITY, AND |
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