The American People are Being Held Hostage by Debt
Aug 2, 2011
Maybe we should consider the fact that those who are being held hostage are those who will one day have to repay this debt. Considering that some of those people are not yet here because they have yet to be born and in some instances their parents have yet to meet. We have to ask the question whether they are being held hostage themselves - held hostage to a government that always demands more money so that it can exercise more power over us, thus restricting our liberty.
All for a Cut of Two-Tenths of a Percent -- Day Lee Briefing 8/02/2011
Aug 2, 2011
Now, there are significant cuts discussed in this legislation as proposed, but I want to be clear on one thing. Although these cuts are large on a long-term basis, on a short-term basis, they are less so. On a short-term basis, within the next year, this proposes to cut about $7 billion, out of the fiscal year 2012 discretionary spending budget.
Budget Control Act is a 'Disappointing Failure'
Aug 2, 2011
The Budget Control Act represents a disappointing failure on the part of this Congress. We have squandered the best opportunity we had to fundamentally reform the way Washington spends money and put the nation on a sustainable path toward a balanced budget. Instead, this bill increases our national debt by more than $2 trillion and cuts spending by only $7 billion over the same time period. There is no reliable enforcement mechanism for future spending reductions. We only have the hollow promises from a Congress that created the mess in the first place.
Budget Control Act is Out of Control -- Day Lee Briefing 8/01/2011
Aug 1, 2011
There are myriad opportunities to compromise within that general framework. We've offered that. We've extended that. Republicans have now submitted no fewer than two bills that have passed the House of Representatives to address the debt limit issue. Both of which have stopped dead in their tracks over here without further opportunity.
Elections Have Consequences -- Day Lee Briefing 7/29/2011
Jul 29, 2011
In a moment at which the House of Representatives has been unable to come up with another package, remember they did pass the Cut, Cap and Balance Act a couple weeks ago. There are a number of representatives in the House I'm told are now refusing to join on to any bill that doesn't include a Balanced Budget Amendment as part of the package. This pleases me, because this is what I've been saying since before I was sworn in to the United States Senate.
Crossroads on Our Fiscal Path -- Day Lee Briefing 7/28/2011
Jul 28, 2011
Debt rating agencies and leading Wall Street institutions warn us that unless $4 trillion in cuts are made, with long-term sustainable fiscal policies to balance the budget, the U.S. will lose its AAA status within 90 days. As we all know, a downgrade will result in higher interest rates and downwardly spiraling financial performance as debt service costs rise. This is a scenario we literally cannot afford.
Joint Economic Committee Hearing -- 7/27/2011
Jul 27, 2011
With the August 2nd debt limit deadline fast approaching, we stand at a crossroads on our fiscal path and economic future. If we do not restrain and permanently reform federal spending, we place our nation in grave danger.
Defaults, Downgrades, and Deals - Day Lee Briefing 7/27/2011
Jul 27, 2011
Both plans represent typical Washington answers to the federal government's out-of-control spending problem. They add trillions to the national debt in the short-term while making hollow promises to cut spending in the long-term. Neither of the proposals fundamentally reform the way Washington spends money, require the federal government to balance its budget, or protect our triple-A credit rating.
Neck on the Line -- Day Lee Briefing 7/25/2011
Jul 25, 2011
It's an insult not only to me and to my colleagues but to all Americans when addressing an issue this important to have so little debate and discussion over this issue. I find it appalling. I find it reprehensible.
Debt Proposals are "Typical Washington Answers"
Jul 25, 2011
WASHINGTON – Today, Senator Mike Lee released the following statement on the debt proposals released by Speaker John Boehner and Majority Leader Harry Reid:
"Both plans represent typical Washington answers to the federal government's out-of-control spending problem. They add trillions to the national debt in the short-term while making hollow promises to cut spending in the long-term. Neither of the proposals fundamentally reform the way Washington spends money, require the federal government to balance its budget, or protect our triple-A credit rating."
