Jeanne Shaheen: “The media has been focused on our differences. But I think there is one thing that every single member of this body…”

“The media has been focused on our differences. But I think there is one thing that every single member of this body agrees on, we have to address the long-term debt and deficits. Like many Members of this Chamber, I have repeatedly called for a bipartisan package that includes reforms to everything deficit related. That means cuts to spending, domestic, defense, and mandatory, as well as increased revenues. I have supported attaching deficit reduction measures to the vote on the debt limit. And I believe reducing the deficit is critical to strengthening the long-term health of the economy. But I also believe that everyone--everyone--has to come to the table to find a compromise solution that will get this done. Democrats know this, that is why time and again we have offered compromise plans, including more than a trillion dollars in spending cuts. It is disappointing that politics are keeping some from negotiating in good faith. That is a disservice to the American people. I have spoken before about what some people are trying to a protect, tax breaks for big oil, for hedge fund operators and for yacht owners. I would like to speak now about what some are willing to risk to protect those tax giveaways. What happens if we do not increase the debt limit and meet the United States' financial obligations. First of all, raising the debt limit does not mean spending more. Our spending is set by Congress's annual budget process.…”