On the recordMay 16, 2023
Mr. President, talks on the debt ceiling continue, and the Republican and Democratic leaders of the House and Senate are meeting with President Biden again today. I hope that is a positive sign because, if the President's Treasury Secretary is correct, we could be 2 weeks away from the United States beginning to default on its debts, something that would have very serious consequences for our economy and for our Nation's financial standing. If we are going to get a debt limit increase, the President is going to have to negotiate with Speaker McCarthy and House Republicans-- really negotiate, Mr. President--which means that President Biden is going to have to accept some real spending reforms because, otherwise, a debt limit increase is not going to make it through the House of Representatives. Those are the just the facts. Democrats, of course, have been kicking and screaming at the idea of spending reforms. You can witness their frantic campaign to portray the responsible reforms in the House Republicans' bill as extreme. Apparently, suggesting that we should return to 2022 discretionary spending levels for 2024 is an extreme position, despite the fact that we were clearly doing just fine at those levels mere months ago.…





