Budget Control Act of 2011

Floor Speech

BREAK IN TRANSCRIPT

Mr. PERLMUTTER. I thank the gentleman from Massachusetts.

Mr. Speaker, I think we've got to go back 10 years and just talk about where we were at that time.

Under Bill Clinton, this country had a surplus. Revenues exceeded expenses. Things were going along great. We were adding jobs by the millions. Then we have a Republican administration. Two tax cuts, couple trillion dollars, lower revenue. Two wars, couple trillion dollars, more expense. A crash on Wall Street, $3 trillion in expense to this country.

That's where this expense comes from. That's why we have bills to pay. We had a tough 10 years, most of it under Republican administration. We've got to pay those bills. But the Republican leadership has brought us to the brink of default--something the United States has had full faith and credit for 235 years and they want to bring that right to the brink of default.

Ladies and gentlemen, we are better than that. We have a responsibility. We can't live in turmoil. We need to rebuild the American Dream for people who want a shot at getting ahead in this life, not this brinksmanship.

This is a bad bill and must be defeated.

BREAK IN TRANSCRIPT

Source