Mr. President, I am pretty amused at what the Senate is doing. We sit here with a $1.6 trillion deficit and we are running bills based on political philosophy rather than what the real problems are in front of our Nation. Do my colleagues know why oil is expensive today? It is because the dollar is on its back and oil is priced in dollars. If we want the price of oil to go down, as it has this week and the tail end of last week--if we want the value of the dollar to go up, because the world trades oil in dollars--why is the dollar down? The dollar is down because an incompetent Congress continues to spend money we don't have on things we don't absolutely need. If we want the dollar to improve in value, what we have to do is hold the Congress accountable for doing what they were elected to do, which is live within our means. We can't come together and solve the very real problems. Do my colleagues realize that if, in fact, our deficit wasn't $1.6 trillion but about $600 billion, the price of the dollar would shoot way up and the price of oil would go down? We hear all these stories. I get all these letters from my constituents who say: Well, we have to eliminate the commodity speculation. We can do that in this country. We can say you can't speculate on oil unless you can take delivery.…
On the recordMay 17, 2011
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