09/27/2010
https://www.congress.gov...
"We cannot continue on this course. Bowles and Simpson told us in this very room that this Nation has never faced a more predictable financial crisis."
"the administration has not indicated willingness to compromise, but as they have released with this budget, they slam the door on compromise."
"Right, well, fundamentally, is it not true that the deficits continue to rise and rise steadily because they are increasing faster than economic growth?"
"However, the August 2011 debt ceiling increase resulted in the only real reduction in the growth of spending, $2.1 trillion, and it was a firm commitment and law to reduce spending by $2.1 trillion."