Lloyd Bentsen: “just so I can set the Record straight so my colleagues over here do not make a mistake, I was not here in 1993. In fact…”

“just so I can set the Record straight so my colleagues over here do not make a mistake, I was not here in 1993. In fact, I was in the private sector, in fact outside the Beltway, where I was earning a living in an industry very similar to what we are talking about. In fact, my friend from New York, I have been in the private sector for a while, while you have been in the Congress, in the public sector, since I have been in high school. Quite some time. If I wanted to, I could come down here, we could come down here as Democrats and we could say fine, go ahead and crash the capital markets of the United States. You will make Herbert Hoover look like an economic genius if you do this. But that is wrong. It is wrong for this country. This is a scary situation. My other colleague from Texas said it is scary. Yes, it is very scary, because if we allow the Nation's debt to default, we will pay forever. If we do it for a day, it will be like Chernobyl; it will last for years and years. Moody's said over the years that you could invest in treasuries because they would not default. This is from 1994. They said last week that they think they are going to default now, and they are looking to downgrade the debt. That is going to affect at least $300 billion of State and local debt and school debt. Mr. Druckmiller, your expect, came out last week and said this was a failed strategy and you should not do it. Now, let us understand this bill.…”