I am not going to stand by and allow this country to collapse simply because this Congress can't come together.

Jim Cooper and I put a bill in yesterday. We had it in last year.

Secretary Clinton went to China with a tin cup begging never wanting to offend the dictators of Beijing.

The country is broke. China holds our debt.

Our unemployment rate is 8.1 percent. Factories are closing. We have got the biggest deficit for as far as the eye can see.

The American people are frankly experiencing a crisis of confidence in this institution and in government.

This institution is broken. The people have no confidence. I don't think this institution is going to fix it.

It's time for Congress to deliver on its responsibilities to the American people and have an honest conversation about the state of our finances.

The Pete Peterson Institute just did a survey. 56 percent of the people, bipartisan, in every part of the country favored this concept.

I have little faith that this Congress will act through regular order and believe it will take a commission with teeth for Congress to act.

We are encouraged by it.