On the recordAugust 2, 2011
Mr. President, for weeks, Americans have watched the debate about raising our Nation's debt ceiling. I know it is has been difficult and often frustrating to watch what is happening, but the discussion could not have been more important for the future of America. We have been talking, again, about whether we would increase America's borrowing limit. In doing so, we have rightly focused on how to prevent a default on America's credit, but also, just as important, rather than just reflexively continuing to borrow money we do not have from Chinese bankers, how we are going to confront the fundamental behavior in Congress that has led us to this culture of borrowing and overspending. I have said from the beginning of this debate that we owe it to the American people, and I owe it to my constituents in New Hampshire, to confront both issues--to avoid default and, finally, to confront our debt once and for all, and to change the direction in which we are headed as a country. To address only default and to continue to kick the can down the road on making the tough decisions to fundamentally change the path we are on will surely lead to a downgrade of our credit rating. It will sap our economic strength and will lead to the insolvency of the greatest country on Earth.…





