I hope there is revenue included in any agreement. Mr. McCAIN. Well, everything I have heard is that the agreement does not have tax increases in it. Has the Senator heard differently, being in the leadership?

Well, of course, it is. I think what is most discouraging is the average person is asking themselves: Why do we inflict this pain on ourselves in the midst of a recession? Why do we have the fear of defaulting on America's debt for the…

Mr. President, I thank the Senator from Connecticut for his comments and for his focus on jobs. If we ask the American people what the most important thing we face is, it is jobs, creating good- paying jobs right here in the United States…

Let me complete one thought. Then I will be happy to yield. Secondly, the President has put in a payroll tax cut. What that means is, working families will get about 2 percent more each pay period. The belief of the President--and I share…

I would answer my colleague that there has never been an instance, since 1939, in the 89 times we have extended the debt ceiling--except for one technical period in 1979 for a few days--when we have used the debt ceiling as a political…

I would also like to thank the Senator from Arizona for the few minutes we shared on the floor. I hope more Members would do this rather than just taking turns giving speeches. These exchanges, even when we disagree, are valuable. But I…

I would just say it pains me to say I agree with the Senator from Arizona, but I do. We both feel threatening the debt ceiling is not in the best interests of the United States and both of us feel that holding out the threat that if we…

I announce that the Senator from Connecticut (Mr. Lieberman) and the Senator from Hawaii (Mr. Inouye) are necessarily absent.

I taught high school government and history for 4 years. For a bill to become a law, it must pass both Chambers, and then it must be signed by the President. The House has now passed two bills which raise the debt ceiling, cut spending…

I would agree with the Senator from Michigan. Time is of the essence. Any delay at this point jeopardizes any possibility of a compromise to avert this economic crisis.

Mr. President, those who are following this debate--and I think many across America are--should understand what just happened. There was a discussion about the filibuster. A filibuster is a Senate rule that does two things: It says you…

The Senator from Michigan has been here longer than I have. He knows this better than I do. But he is right. This threat of a filibuster has raised the vote requirement from a majority to 60, and that is the issue that was being discussed…

The Senator from Michigan is correct. Those who say they want to bring this to a vote will have an opportunity to join us in doing so by producing at least 60 votes when we vote at 1 in the morning.

Mr. President, reserving the right to object, under the filibuster rules of the Senate, there is a requirement of 60 votes for cloture. We have said we are prepared to move to a timely vote on this pending amendment, a majority vote, the…

Mr. President, before I yield to the Senator from North Carolina, I wish to note that last night, the two Senators who just finished their colloquy had an opportunity to vote for the Boehner plan which required a constitutional balanced…

I don't object, as long as this side is given an additional 2 minutes. The PRESIDING OFFICER. Without objection, it is so ordered.

Mr. President, how much time is remaining in the period allotted to Democrats? The PRESIDING OFFICER. There is 4 minutes 20 seconds remaining.

Thank you. I see Senator Coburn is on the floor. I assume he is the first speaker on the Republican side. I wish to thank the Senator from Minnesota for his comments on our budget situation. For the many who have gathered here and are…