On the recordFebruary 11, 2014
Today the U.S. Congress is doing its job 5 days after forcing the Treasury to resort to extraordinary measures to finance our government and 3 legislative days before an unprecedented default. This marks the fourth time in the last 3 years that we have been pushed right to the brink of default. Everyone outside of this Chamber knows we would have and should have lifted the debt ceiling long before we arrived at this point. I am glad to see that once again we have been able to do our most basic job, but we need to stop playing these political games with our economy, our stability, and our reputation. We should not be forced to wonder, year after year, if we are going to be able to decide to meet our obligations. We should guarantee that the only time we debate spending is during spending debates. I would ask my colleagues to help me reform this process and install a permanent fix that would end their brinksmanship surrounding the debt limit. That is why I have introduced two bills that allow the debt limit to be raised unless a supermajority of Congress votes to block them. This would permanently shift the rule of Congress to disapproving debt ceiling increases instead of being forced to approve them. My approach has been introduced in the other Chamber by Senators Schumer, Boxer, and Hirono. It has been endorsed by a growing chorus of economists and outside thought leaders. Today, I urge my colleagues to vote ``yes'' to lift the debt limit with me today.…
