Political Quotes

“at this time I wish to address just a few of the problems that I have with the constitutional amendment that is proposed by Mr. Simon and others, and a few of the points that have been raised during the discussion. Mr. President, Mr. Simon, the very able and distinguished Senator from Illinois, with reference to the provision that requires a three-fifths majority, section 1, where total outlays for any fiscal year may exceed total receipts for that fiscal year, then a three-fifths majority of the whole membership of each House can provide for a waiver. As I indicated last evening, that three-fifths majority vote may be pretty difficult to get. Section 2 again refers to a three-fifths supermajority. Section 2. The limit on the debt of the United States held by the public shall not be increased, unless three-fifths of the whole number of each House shall provide by law for such an increase by rollcall vote. Mr. President, with reference to section 2 in particular, we are talking about the debt limit, the fact that it may have to be increased. What if it is not increased? What if it is not increased? We are talking about debt that we have already accumulated and we are about to have to raise the debt limit. We already owe the debt and it is necessary to raise that debt limit because it is necessary under certain circumstances to add to the debt. I have seen that situation arise here in the Senate a good many times. What if we do not raise it?”