On the recordJuly 7, 2011
today Congressional leadership on both sides of the aisle is meeting with the President to try to break the current impasse on the debt talks. As the President said in a press conference earlier this week: ``Right now, we've got a unique opportunity to do something big.'' I completely agree with that statement. I am glad and pleased that, finally, after months of concern and months of urging, we are dealing with this impending debt crisis. Time is running out. The leadership is now meeting. We will be getting reports on what has come from this meeting. I was encouraged by initial reports today indicating the President has agreed to address the issue of entitlement spending as well as defining the amount of spending cuts that are necessary to put together a credible plan that move our country into a better financial position. I have been discussing the necessity of a comprehensive solution to our problem ever since day one of this session and my return to the Senate, and I've indicated that the current process of spending way beyond our means simply cannot be maintained and sustained and that we have to address it-- not after 2012 but we need to address it now.…
