Tom Harkin: “I listened both to Senator Wyden and to the remarks of Senator Blunt. They are both very thoughtful individuals…”

“I listened both to Senator Wyden and to the remarks of Senator Blunt. They are both very thoughtful individuals, thoughtful Senators. I enjoy working with both of them. Madam President, why are Republicans refusing to agree to raise the debt ceiling, something we have done 89 times since the 1930s, including 18 times under President Reagan? I might point out, the Republicans at that time controlled the White House and the Senate and the Democrats controlled the House. Also, in September of 1987, President Ronald Reagan used his weekly radio address to urge Congress to increase the debt ceiling. He said-- and here it is. I thought it was worth printing out. Here are the exact words of Ronald Reagan spoken in September of 1987: Unfortunately, Congress consistently brings the Government to the edge of default before facing its responsibility. This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veterans benefits. Interest rates would skyrocket, instability would occur in financial markets, and the Federal deficit would soar. The United States has a special responsibility to itself and the world to meet its obligations. I didn't put it on here, but President Reagan went on: It means we have a well-earned reputation for reliability and credibility--two things that set us apart from the rest of the world.…”