On the recordJune 13, 2012
I thank the Republican leader. It just stuns me when the Republican leader comes to the floor and has his ``blame Obama'' moment every day that he can. I thought this one was over the top. It is as if President Obama came in and everything was great and suddenly things are not going well. Excuse me, I was here. I know. I remember when we had surpluses under Bill Clinton and the Democrats, and the Republicans turned it into deficits as far as the eye could see. I cannot forget that because I remember a time when there was discussion about whether we were even going to have U.S. Treasurys anymore because we were not going to have debt anymore when Bill Clinton was President, and the Democrats set us on that right course. We had a balance between investments in our people and fair taxes so that the top 1 percent paid a fair share, and everybody did well. Madam President, 23 million new jobs were created with Bill Clinton. Then George W. comes in. Two wars go on the credit card, tax breaks to the wealthiest few--the millionaires and billionaires--on the credit card, and suddenly we have a crisis: No regulation of these sophisticated securities. My friend in the chair, the Acting President pro tempore, knows well what happened: no oversight, derivatives, new kinds of securities, taking a beautiful home ownership ethic we had in this country and gambling on it. What happened? The worst crisis since the Great Depression. Who comes into office?…





