On the recordJanuary 28, 2013
during the next few weeks and months Congress and the President will again have an opportunity to demonstrate that we are serious about dealing with deficits and debt by reducing spending. We have the debt limit issue coming up, we have the sequestration issue coming up by March 2, and we have the continuing resolution issue coming up on March 27. So those are three very real times--and important times--to deal with deficit and spending. The reason we need to address the Federal runaway spending is obvious to everybody who has a family budget and wonders why Congress cannot live the same as families live--within our income. The reason we need to address the Federal spending is obvious-- because it is the real driver of our deficits and our debt. Spending is the reason we are up against the $16.4 trillion debt limit. Spending was the reason Congress and President Obama raised the debt ceiling by $2.1 trillion just a year and a half ago. In 2006 the junior Senator from Illinois, Mr. Obama, came to the floor and made a very passionate and thoughtful statement here on the Senate floor in opposition to raising the debt limit. Many of the reasons he gave then are relevant today. In fact, they are even more appropriate because the debt is much higher and we have a fiscal mess. It is instructive for my colleagues to hear the words straight from then-Senator Obama. He delivered these remarks on March 16, 2006.…





