I rise to speak in opposition to the bill in front of us today, and I wish to start out by saying that, in addition to all the many challenges facing our Nation, a massive budget deficit and a crippling debt may prove to be the most difficult challenge we face as a country. A deep structural defect, such as the one our government has accumulated because of these debt levels, not only threatens our long-term economic stability, it darkens the horizon in a way that discourages the innovation investment we need to spur American jobs today. Moreover, our apparent inability to squarely address the problem in a bipartisan way is a signal to the American people--as if they needed more proof--that our democracy is not working, and that is as dangerous as any attack on our country. It is a timebomb in our midst, the ticking of which we cannot ignore unless we are comfortable knowing it will eventually and inevitably blow up on our children. Just last week, a bipartisan group appointed by the President confirmed the seriousness of a threat with a different metaphor but one equally apt. The President's fiscal commission called our national debt a cancer that is threatening our country from within. Whether a timebomb or a cancer, the threat is real, and the Commission confirmed it in the starkest possible terms. The chairman's recommendations on how to respond were sobering. But in a way, they were also like a strong cup of coffee after a serious drinking binge.…
Editor's note · Context
Senator Udall opposes a bill, highlighting the dangers of the national debt and budget deficit.
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