On the recordJanuary 25, 2010
I rise today in support of the amendment offered by Senators Conrad and Gregg to create a bipartisan budget commission to address our Nation's long-term fiscal crisis. The Conrad-Gregg amendment would create an 18-member bipartisan commission which would be charged with developing a specific plan to correct our government's long-term fiscal imbalance. All options would be on the table. The commission's legislative recommendations would require expedited consideration by the Congress, a supermajority vote in both Chambers, and Presidential approval. While I would prefer that Members of Congress have the ability to offer revenue-neutral amendments to the commission's legislative recommendations, it is imperative that we move forward on this proposal. For this reason, I am pleased to be a cosponsor of the legislation. I would note that I have not always thought the creation of an independent commission was the right approach. I was hopeful that Congress could tackle the issue of the looming fiscal catastrophe confronting us. But I have concluded that the only way we are going to achieve urgent action on the very serious fiscal problems we face is through the creation of this independent commission. The fact is, America's out-of-control debt is a grave threat to our future prosperity.
