[Congressional Record Volume 157, Number 113 (Tuesday, July 26, 2011)]
[Senate]
[Pages S4887-S4888]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         CUT, CAP, AND BALANCE

  Mr. BOOZMAN. Madam President, throughout the course of this debt 
ceiling debate, the American people have watched in utter disbelief of 
what they have seen. They understand we need to get our fiscal house in 
order; they see what has gotten us into this mess; and they want it 
stopped before they agree to give us blanket authority to raise the 
debt limit. What they are saying is we must spend within our means just 
as they have to do.
  We have a way to do that. It is the cut, cap, and balance plan. It 
has already passed the House. The companion bill, with 39 cosponsors, 
has the support so it should be considered in this Chamber as well. I 
am proud to say I am one of those 39 cosponsors of the Senate bill. I 
signed onto the cut, cap, and balance bill because the American 
people--and more specifically the people of Arkansas--have demanded 
that we address this crisis now, not later. They know Washington is not 
good with remembering to follow through on the things they promise to 
do later.
  Some will say this is too simple an answer. They say the fiscal mess 
in which we find ourselves is a complex problem. It is not though. Just 
look at the numbers.
  This year alone we will spend $3.7 trillion while collecting only 
$2.2 trillion. We borrow 40 cents of every dollar we spend.
  President Obama and the Democratic majority in this Chamber will say 
the way to fix this problem is to raise taxes. They may try to use 
other words and phrases such as revenue enhancers while talking about 
raising taxes, but make no doubt about it, they want to put the onus 
back on the American people.

[[Page S4888]]

  There is a major problem with this approach. Washington does not have 
a revenue problem; it has a spending problem. Again, the numbers back 
this up. Traditionally, government spending is about 19 percent of our 
gross domestic product. Since President Obama has been in office, 
government spending has been much closer to 25 percent of our gross 
domestic product. This administration has raised Federal spending to 
the highest peak since World War II.
  How do we solve this spending problem? We do it through cut, cap, and 
balance. Cut now--the House bill immediately cuts over $100 billion in 
spending; cap for the future--the spending cap mechanism in this bill 
caps spending over the next 10 years, bringing it down to less than 20 
percent of our gross domestic product within the next 5 years--and the 
balance is for a balanced budget amendment, something our entire 
Republican caucus supports in the Senate, as do many in the Democratic 
majority, at least according to their on-the-record statements.
  This bill prohibits the Treasury from borrowing unless a balanced 
budget amendment is sent to the States for ratification. Let's pass a 
balanced budget amendment and give the people back home the decision 
about whether they want to require us to operate under a balanced 
budget amendment. I think you will find they overwhelmingly do. 
Unfortunately, the Senate majority, with no plan of their own for 
reining in the out-of-control spending, will not allow us to have a 
debate on this bill.
  Last Friday they moved to table the Cut, Cap, and Balance Act, 
effectively ending any consideration of the bill. All this reminds me 
of the debate over the House-passed budget we had a few months ago. The 
majority over here had strong words of criticism but no budget proposal 
of their own. Again, strong words of criticism and no plan of their 
own. Only this time it is worse.
  With our Nation on the brink of default, the majority clearly 
believes it is better to score political points than have a debate on 
the merits of our proposal. They control the floor, the agenda, and the 
amendments that are accepted. If any member of their caucus wants to 
change the bill, they certainly have that option. But instead of having 
the debate, we get political theater from the majority.
  This is not what our constituents deserve. They deserve a real 
debate. They sent us here to work together to prevent a catastrophe on 
par with what has happened in Greece, Ireland, and Portugal. They want 
to see us get our fiscal house in order. That is what the root cause of 
this crisis is all about. We are not just having a debate on raising 
the debt ceiling. If that were all this discussion was about, it would 
have been over months ago. Nobody wants a default.
  The debate that is going on today is about a much bigger problem: the 
out-of-control spending that has put us in this position time and time 
again. Cut, cap, and balance is one way to solve the problem. It is a 
solution that helps us avert an immediate meltdown and brings a sense 
of fiscal responsibility to Washington where it is so badly needed.
  Madam President, I suggest the absence of a quorum.
  The ACTING PRESIDENT pro tempore. The clerk will call the roll.
  The legislative clerk proceeded to call the roll.
  Mrs. HUTCHISON. Madam President, I ask unanimous consent the order 
for the quorum call be rescinded.
  The ACTING PRESIDENT pro tempore. Without objection, it is so 
ordered.

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