On the recordJuly 29, 2011
The gentleman from Georgia mentioned that the President hasn't introduced a bill. I would just like to point out that the President of the United States cannot introduce a bill in the House or Senate. The President can sign a bill. In fact, in this particular case, he said he would veto this bill because it increases the deficit, it risks increasing it by over $100 billion. I would like to submit for the Record a study that shows the difference in interest rates between AAA and AA ratings, which demonstrably shows, in fact, that if this bill is passed here today with only a 6-month extension, it would likely cost taxpayers over $100 billion. AAA or AA? In Which Club Do We Want To Belong? ------------------------------------------------------------------------ 10-Year AAA Ratings bond yield (%) ------------------------------------------------------------------------ Australia.................................................. 4.92 Austria.................................................... 3.39 Canada..................................................... 2.93 Denmark.................................................... 2.99 Finland.................................................... 3.13 France..................................................... 3.25 Germany.................................................... 2.76 Hong Kong.................................................. 2.26 Luxembourg.................................................…





