On the recordJune 17, 2010
Madam President, this amendment is, in my view, probably the most important thing that we can do for the economy right now. The Senator from Montana talked about job creation. Everybody in this Chamber cares about that. I think Democrats and Republicans alike believe we have to create jobs in our economy. We need to get economic growth going again. I think we have a fundamental difference about how best to do that, and what my amendment would do is address what I think are the two biggest problems we face--the sort of clouds, if you will, hanging over the economy in this country. One is debt. We have this spiraling Federal debt which is set to double in 5 years and triple in 10 years on the current path under the budget that has been proposed by the President. If we include the debt that government agencies owe each other--in other words, intergovernmental debt--add that to the public debt, right now we are in debt $13 trillion. That is the total amount of debt we have today. That is going to balloon in the next 5 years and the next 10 years. The budget window we use to do our budgeting around here suggests it is going to be much higher than that.…





