On the recordJuly 20, 2011
if there was ever a time in the modern history of America for the American people to become engaged in what is going on here in Washington, now is that time. Decisions are being made as we speak which will impact not only our generation but the lives of our children and our grandchildren for decades to come. I fear very much that the decisions being contemplated are not good decisions, are not fair decisions. Right now, there is a lot of discussion about two things: No. 1, the importance of the United States not defaulting for the first time in our history on our debts--I think there is increased understanding that would be a disaster for the American economy, that would be a disaster for the world's economy, and we should not do that--but, secondly, there is increased discussion now on long-term deficit reduction, how we address the crisis we face today of a record- breaking deficit of $1.4 trillion and a $14 trillion-plus national debt--a debt, by the way, that was caused by two unpaid-for wars, huge tax breaks for the wealthiest people in this country, a Medicare Part D prescription drug program written by the insurance companies, and the lack of revenues coming in because of a recession caused by the greed and recklessness and illegal behavior on Wall Street. Be that as it may, regardless of how we got to where we are right now, there are efforts to develop long-term deficit reduction plans. One of them has to do with a so-called Gang of 6.…





