First, during the course of the Senator's Presidential campaign, Mark Zandi, his economist, helped him formulate some positions. His opinion of President Obama's stimulus is, it stopped a precipitous decline in our economy. Did it achieve…

First, I wish to thank my colleague from Arizona. For those who are witnessing this, this is almost a debate in the Senate. It rarely happens. I thank the Senator for coming to the floor. Mr. McCAIN. May I say that rather than having the…

I wish to make sure we have some stimulus to the economy to create jobs and help those out of work find work with training and education. Mr. McCAIN. So one would have to assume that the Senator from Illinois believes the last stimulus…

I honestly am not party to this. But I can tell the Senator, as the Gang of 6 and fiscal commission, we believe everything should be under consideration to reduce our national debt. Mr. McCAIN. So I assume that would also mean the Senator…

I hope there is revenue included in any agreement. Mr. McCAIN. Well, everything I have heard is that the agreement does not have tax increases in it. Has the Senator heard differently, being in the leadership?

I hope so. Mr. McCAIN. Does the Senator from Illinois agree that, most likely, that agreement will not have an increase in taxes associated with it, at least in the short term?

Well, of course, it is. I think what is most discouraging is the average person is asking themselves: Why do we inflict this pain on ourselves in the midst of a recession? Why do we have the fear of defaulting on America's debt for the…

I would answer my colleague that there has never been an instance, since 1939, in the 89 times we have extended the debt ceiling--except for one technical period in 1979 for a few days--when we have used the debt ceiling as a political…

Let me complete one thought. Then I will be happy to yield. Secondly, the President has put in a payroll tax cut. What that means is, working families will get about 2 percent more each pay period. The belief of the President--and I share…

I would also like to thank the Senator from Arizona for the few minutes we shared on the floor. I hope more Members would do this rather than just taking turns giving speeches. These exchanges, even when we disagree, are valuable. But I…

The Senator from Michigan is correct. Those who say they want to bring this to a vote will have an opportunity to join us in doing so by producing at least 60 votes when we vote at 1 in the morning.

Thank you. I see Senator Coburn is on the floor. I assume he is the first speaker on the Republican side. I wish to thank the Senator from Minnesota for his comments on our budget situation. For the many who have gathered here and are…

The Senator from Michigan has been here longer than I have. He knows this better than I do. But he is right. This threat of a filibuster has raised the vote requirement from a majority to 60, and that is the issue that was being discussed…

I announce that the Senator from Connecticut (Mr. Lieberman) and the Senator from Hawaii (Mr. Inouye) are necessarily absent.

I would agree with the Senator from Michigan. Time is of the essence. Any delay at this point jeopardizes any possibility of a compromise to avert this economic crisis.

I don't object, as long as this side is given an additional 2 minutes. The PRESIDING OFFICER. Without objection, it is so ordered.

before I yield to the Senator from North Carolina, I wish to note that last night, the two Senators who just finished their colloquy had an opportunity to vote for the Boehner plan which required a constitutional balanced budget amendment…

those who are following this debate--and I think many across America are--should understand what just happened. There was a discussion about the filibuster. A filibuster is a Senate rule that does two things: It says you cannot move an…

how much time is remaining in the period allotted to Democrats? The PRESIDING OFFICER. There is 4 minutes 20 seconds remaining.

reserving the right to object, under the filibuster rules of the Senate, there is a requirement of 60 votes for cloture. We have said we are prepared to move to a timely vote on this pending amendment, a majority vote, the same as Speaker…

I wish to thank my colleague from Ohio for talking about this issue because it is on the minds of everyone here on Capitol Hill and across the Nation. We are getting a lot of e-mails and phone calls and letters, and it is understandable…

that is unacceptable. By my calculation, we have 4 days before we default on our debt, 4 days before the American economy suffers this mortal blow, 4 days before we default on America's full faith and credit for the first time in our…

this is a historic weekend in Washington, and I think those who are visiting the Capitol and following the proceedings understand the gravity of the decisions that lie before us. On August 2, our debt ceiling expires. That has never…

if the minority leader doesn't mind, I would like to ask the majority leader a question. The ACTING PRESIDENT pro tempore. The Senator from Illinois.

today I am introducing the ``Comprehensive Immunosuppressive Drug Coverage for Kidney Transplant Patients Act'' with my colleagues Senators Cochran, Levin, Cardin, Schumer, Inouye, and Brown of Massachusetts. The Centers for Disease…