On the recordJune 30, 2011
Mr. President, the negotiation over this deficit reduction and the debt ceiling package has hit the critical stage. It is beginning to come into the consciousness of the country and most of the people around here. Those people have in some cases wanted to push it off, in other cases have said: Oh, the debt ceiling? That is not such a big deal. It is baffling that people would say that. The economic chaos that would reign in this country and the world financial markets if the Federal Government was not able to pay all of its bills would be catastrophic. How can any person in a responsible position say that? But it is also baffling that there are so many people--and you know who they are--who have decided to draw a line in the sand on any deficit reduction and say: It is going to be my way or no way. That is part of the problem of what is going on in this country right now. This is a big, broad, diverse, complicated country. The very principle of a body such as this is that you respect the other fellow's point of view. When you have differences of opinion, you try, as the Good Book says, to say, ``Come, let us reason together'' and to hammer out a workable solution. Yet you hear the rhetoric--it is going to be their way or no way, so no matter whether you talk about closing corporate tax loopholes--no. That has to do with tax revenue. It sure does, but certain people are not paying their taxes due to loopholes.…