On the recordJuly 18, 2012
That is exactly right. The consensus appears to be--I remember that Alice Rivlin, a former budget director under President Clinton, said that if the sequester goes into effect as currently written and this tax increase occurs at the same time, we will be in a recession. This is the part I really don't understand. I think we all have been around politics enough to know that people act in their own self- interest, but how in the world could this be in the President's or his party's self-interest--it is certainly not in the national interest--to see the economy bouncing along from the bottom, with slow growth and the threat of a recession going into a national election? That makes no sense to me whatsoever. I know we have other colleagues from the Armed Services Committee here who have something to say about this. I will reiterate something the Republican leader said. We stand ready to deal with this issue now--sooner rather than later. To ignore this until after the election, creating not only more uncertainty but the inability of our Department of Defense and our military to provide for the protection and the security of the American people, is completely irresponsible. The PRESIDING OFFICER. The Senator from Arizona. Mr. McCAIN. Mr. President, may I say to my colleague that I thank him for his important words, and I thank the Republican leader for his commitment.…
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