On the recordJuly 29, 2011
Thank you. I'll do a wrap here, and we'll be finished for this evening. Unfortunately, the work has not yet been completed. We do need to lift the debt ceiling. We can, and it will be done one way or the other. The President has the ultimate authority under the 14th Amendment of the Constitution to simply order the Treasury to pay the bills. All that has gone on here today will devastate the United States. It will devastate it. We've talked about that part of this is the requirement that no more debt ceilings will be lifted until there is a constitutional amendment that requires a two-thirds, or a 60 percent, vote to do anything. That is guaranteed gridlock. The only thing that could take place on a majority vote would be cuts. Think about that, America. In order to raise taxes, in order to end the tax breaks given to the oil companies or the rich barons on Wall Street, it takes a two- thirds vote. But to cut Medicare?--a majority vote. We're not going to let that happen. There is one place that the Democratic Party is going to stand, and that is: Keep your hands off Social Security and Medicare. No way. Nohow. I don't care about all of this talk that goes on here. The bottom line is: That is a fundamental building block foundation of this Nation. It brought every senior out of poverty. {time} 1950 There's not a family in America that doesn't depend upon Social Security and Medicare for their parents.…
Source
govinfo.gov




