On the recordJuly 30, 2011
I will say two things. First, if the Senator from Illinois, Barack Obama, had gotten his way, we would have been in the same position we are in right now. He voted against it. The President has now said he made a mistake and would not have said that were he here today. My point is that the rhetoric 2 years ago was not considered extremist language. Now, I think it is a myth. There may be a handful of people in the House and Senate, perhaps, who believe the Nation doesn't have to raise the debt limit, but by and large everybody recognizes that something must be done about it. I speak for myself, not for any other Member of the Chamber. What I have also said is that it would be a terrible mistake to lose this opportunity to do something meaningful about the debt and that the debt limit gives us an opportunity to do something meaningful about the debt because the crisis America faces is not one I have defined but one defined by the ratings houses and agencies that have said: If you do not get spending in order, we don't care whether you raise the debt limit or not, we will downgrade you. What that means is an increase in interest payments for every American.
