[Congressional Record Volume 157, Number 99 (Wednesday, July 6, 2011)]
[Senate]
[Pages S4334-S4335]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          BUDGET NEGOTIATIONS

  Mr. McCONNELL. Madam President, yesterday I accepted the President's 
invitation to the White House to discuss what the two parties can do 
together to reduce our Nation's out-of-control deficit and debt, to 
create jobs, and to put the American economy back on solid footing.
  As I have said for many months, the upcoming vote on the debt limit 
should be viewed as an opportunity to do something big that would send 
a clear

[[Page S4335]]

message to the American people and the world that we could come 
together and put our fiscal house in order.
  It is notable that the President, who not that long ago preferred we 
raise the debt ceiling without any corresponding plan to do any of 
these things, now wants to discuss the need to do something about our 
crushing debt burden. Thursday's meeting will give us a chance to see 
if the President means what he says. It is an opportunity to see if the 
President is finally willing to agree on a serious plan to pay our 
bills without killing jobs in the process.
  Until now, the President's proposals have been inadequate and, 
frankly, indefensible. It is ludicrous for the administration to 
propose raising hundreds of billions in taxes at a time when 14 million 
Americans are looking for work and job creators are struggling. Just 
last December, the President acknowledged that preventing a tax hike 
meant more resources were available for job creators to add employees. 
That was the President just last December in describing why he decided 
to extend the current tax rates for 2 more years--because, he said, it 
would be bad for job creators. That was just 6 months ago, and I do not 
think anybody thinks the economy is in better shape now than it was 6 
months ago. Does the President now think the economy is doing so well, 
that unemployment is so low, and economic growth so rapid that we can 
take billions of dollars away from these very same job creators? That 
seems to be what he is saying now. It is equally ludicrous to propose 
more stimulus spending as part of a deficit reduction package. 
Republicans and, yes, some Democrats oppose these ideas because they 
will not solve the debt crisis and they certainly will not create any 
jobs.
  Americans expect that in a negotiation about a debt crisis we would 
actually do something to significantly reduce the debt. And with so 
many still out of work, we expect the President to not insist on 
proposals his own administration says will put even more people in the 
unemployment line.
  We are eager to meet with the President to see if he is really 
willing to do something big for the country. We do not think it is 
absolutist to oppose more stimulus spending. We do not think it is 
maximalist to oppose hundreds of billions of dollars in tax hikes in 
the middle of a job crisis. We have a better term for it: common sense.
  We are ready to meet with the President on Thursday. Maybe he will 
have changed his mind and returned to his commonsense approach just 
back in December when he said that preventing tax hikes means ``freeing 
up other money to hire new workers.'' Hopefully, we can finally do 
something big to reduce the deficit, put people back to work, and 
prevent Medicare's bankruptcy. That should be our goal.
  Madam President, I yield the floor.

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