Political Quotes

“I ask unanimous consent that the reading of the amendments be dispensed with. The PRESIDING OFFICER. Without objection, it is so ordered. The amendments are as follows: (Purpose: To require that any debt limit increase be balanced by equal spending cuts over the next decade) At the end of the bill, insert the following: SEC. ____. DOLLAR FOR DOLLAR REQUIREMENT. (a) Debt Limit Control.-- (1) In general.--Subchapter I of chapter 31 of title 31, United States Code, is amended by inserting after section 3101A the following: ``Sec. 3101B. Debt limit control ``(a) Declaration of a Debt Limit Warning.-- ``(1) In general.--In the event of a near breach of the public debt limit established by section 3101, the Secretary of the Treasury shall issue a debt limit warning to the Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives that shall include a determination as to when extraordinary measures may be necessary in order to prolong the funding of the United States Government. ``(2) Definitions.--In this subsection: ``(A) Extraordinary measures.--The term `extraordinary measures' means measures that may be taken by the Secretary of the Treasury in the event of a breach of the debt limit by the United States to prolong the function of United States Government in the absence of a debt limit increase.…”