Deal. Thats the way it has worked. And its gramm rudman, its the 1990 balanced budget agreement or the Andrews Air Force base agreement. Its the 1997 balanced budget agreement. Its paygo rules that many in this committee on the other side of the aisle talk about favorably. Of course, its the 19 its the most recent budget control act, just a couple of years ago. All in the context of the debt limit. So my view is kind of strange the president would, one, not want to negotiate, but, two, say we havent added stuff. Its all that has worked to deal with this. And you indicated this earlier, it only makes common sense because its a tough vote, as you said. Why . Because our constituents dont get it. You know, why would you extend the credit card again, go over the limit again without dealing with the underlying problem . And thats why, you know, the polling shows that by over two to one the American People say, yes, we should extend the debt limit but only if we deal with the underlying prob
A benchmark for credit markets source of world, as a safe investment. I hope as we have this discussion we can be candid about what we are talking about here. As we all know, if we do not raise the debt ceiling sometime soon, then at some point we will have disruptive consequences, because tax revenue is only 85 of all the money we are planning to spend, not 100 , and that means the other 15th percent 50 has got to be our it, and if not, then you have to make some decisions about what gets cut. That is disruptive, not where we want to go, and i hope the president will agree to actually address the underlying problems underlying problems that got us are so we can avoid it. Having said that, there is no circumstances under which we should ever tolerate choosing, willfully, to make sure that a missed payment would include a missed payment on the Treasury Security. Processing because of uniquely Important Role the treasury securities play. I was disappointed that the treasury secretary in
We will negotiate with you about anything. Would you accept a shortterm deal . We are going to look at anything they send us. Meeting,ng out of this they have changed on how much time they want on the debt limit. Lets just wait and see. We will just wait and see. They cannot decide what they want. Up until now, there has been a very clear position which is, we need a clean cr. We need to open the government before we engage in negotiations. To negotiateant before you reopen the government. Not going to happen. Are we closer to a solution now with this . Bysenator harry reid joined his fellow Senate Democrats Chuck Schumer of new york, dick durbin of illinois, patty murray of Washington State speaking to reporters following their meeting with the president. Tomorrow, the president has his final session with members of congress. Senate republicans will be at the white house. We are rejoined by Carrie Budoff brown who is following all of this as senior White House Reporter for political p
Senator, im not familiar with that issue. Id be glad to take a question for the record be, if youd like. Okay, thank you. Thats it, madam chair. Thank you very much. [inaudible] verify one thing on the nsa situation. Its my understanding that this judge, judge leon, made his restraining order which has been or his injunction which has been stayed, and that was announced last month, a District Court judge in southern california, jeffrey miller, announced his opinion in a case which involves a bacilli malawi who was convicted on three counts of support for terrorism, specifically financial and monetary, specifically involving alshabaab. He was tried, he was convicted, and then a case was brought exactly on this point. And the judges opinion last month said that the program essentially was constitutional, that no one had a Fourth Amendment right on metadata. Just my view of the situation is that i welcome a Supreme Court review. Its been more than 30 years. We didnt have terrorism when sm
Capito we have very strong concerns about Climate Change domestically and internationally while promoting access to energy around. I understand and i heard your testimony before. Your policy regards their vote in international bodies. It does not regard private financing. Well, with respect in reclaiming my time i would encourage treasury to reconsider the goal truly is to deliver Energy Diversity and opportunity which we include a portfolio of coalfired power. Quickly shifting to the ogre rule. I want to focus on the ambiguity in the volcker rule and whether its consistent enforcemeenforceme enforcement. You have heard in recent days after the issuance of the rule federal governor raskin talking about how section 619 of doddfrank certainly doesnt specify enforcement standards. She indicates that the fcc made bring one perspective and the occ may bring a different perspective. Commissioner gallagher says banking agencies can employ discretion where is the sec a rule as a rule and they