Chuck Schumer

I want to echo the comments from Senator Reed and many other of my colleagues about the need to preserve independent funding for the CFPB.

If there is no further business to come before the Senate, I ask unanimous consent it adjourn under the previous order. There being no objection, the Senate, at 7:06 p.m., adjourned until Monday, July 18, 2011, at 2 p.m.

There will be a rollcall vote at 5:30 p.m. on Monday. That vote will be on the confirmation of J. Paul Oetken to be United States District Judge for the Southern District of New York. ____________________

Better to do it through 2013 than do it a month at a time?

And, by the way, to boot, wouldn't that hurt the economy?

So you do not agree with those that--that in a sense is default, right?

OK, and that is the outcome some of us are working toward right now, so I appreciate that, because to do one without the other does not make much sense.

Thank you, Mr. Chairman.

But if we do not raise the debt ceiling after August 2nd, that would require us to stop paying almost half of our other bills, even if you paid back the debt.

It would be better to do both than just one.

Many of us have conflicted feelings about this approach because, on the one hand, it would ensure we do not default, but on the other, it does not make any headway in reducing our debt.

But I am not talking about the long-term deficit. I am talking about renewal of the debt ceiling by such a little amount that month after month we would have to come back and renew it.

First let me thank the Senator from New Mexico for his heartfelt remarks. I know how much he cares about his constituents and our country. We too at the opposite end of the country thank our soldiers for their sacrifice and also the…

It is amazing that we have people in this room who supported trillions in tax cuts and two unpaid-for wars, but now say it is up to veterans and the seniors and the troops to sacrifice a bit more so millionaires don't have to.

Investors have an interest in CEO pay disclosures for a variety of reasons.

Do you believe such information would be useful to investors?

Removing any doubt that the Commission had the authority to issue a proxy access rule.

I believe the real reason some companies don't want to reveal it is because they would find it embarrassing to reveal that they pay their CEO say 400 times what they pay their typical employee.

I would note, for my colleague--reclaiming my time--the Ryan budget is not a dramatic step in that direction. The Ryan budget, as I understand it, does not do a thing in the first decade to reduce the deficit. It cuts a lot of spending…

I thank my colleague. My colleague is right. We should move on this, this year. We certainly agree with that. Of course, the balanced budget amendment wouldn't take effect for years to come. But my colleague just voted for the Ryan budget…

Before I begin on my time, I would like to ask my colleague from Louisiana if he would answer a question.

No. We need it at 6:10 p.m. So if the Senator wants to speak beyond 5 minutes, that is OK with us.

I wish to announce that the Committee on Rules and Administration will meet on Wednesday, June 29, 2011, at 10:30 a.m. to hear testimony on the nominations of Gineen Bresso, Thomas Hicks, and Myrna Perez to be members of the Election…

I thank Secretary Napolitano and Dr. Stanley for indulging me here, and I certainly thank Chairman Durbin for leading this hearing and leading this drive for the DREAM Act.

I want to thank you, Senator Durbin, for holding this hearing.