On the recordMarch 3, 2010
Mr. President, we have been talking about having a bipartisan effort to rein in spending and some of the things that we can do in that regard. So I am pleased to share a few thoughts today on the legislation that my Democratic colleague, Claire McCaskill of Missouri, and I have offered that would ensure that we show some fiscal discipline in our spending habits. It is not a dramatic change in what we should be doing and what I think we can do, but I think it is an action that would send a message to the financial markets in the world that we are beginning to get the message from our constituents that this recklessness and this kind of spending cannot continue. Our legislation received bipartisan support last time. Fifty-six Senators voted for it, which is a pretty good number. But you do need to get 60 votes to pass the legislation. I think this time, with our new colleague from Massachusetts, we might be at 57 or 58, and at this point, I think others may be evaluating whether this is the kind of action they would like to support. Let me take a minute or two to explain what our legislation attempts to do, how it can work, how it has worked in the past, and why this step is important. It would set a much firmer cap on spending. It would make it more difficult to enact spending levels that violate the budget. I wish to explain why it is something Members of both parties can support.…





