Senate Proceeding on Apr 2nd, 2009 :: 1:16:15 to 1:22:05
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1:16:14 to 1:16:35( Edit History Discussion )

John McCain: i thank the chair, inquire of the senator from arizona if he would like on his amendment? and are we still have senator graham -- mr. mccain: i think he's -- quote -- "on his way." mr. conrad: may i just say that i was told a nu years ago that one of our

1:16:15 to 1:22:05( Edit History Discussion )
Speech By: John McCain

1:16:36 to 1:16:58( Edit History Discussion )

John McCain: colleagues called in and said he was on his way, that he was at the airport and then it turned out that he was at the philadelphia airport. [laughter] mr. mccain: i thank the chairman. madam president, i'd like to remind my colleagues where we are. we have a debt, a national debt,

1:16:59 to 1:17:19( Edit History Discussion )

John McCain: of $10.7 trillion. this budget that is proposed by the pre we're looking at a debt of $10.7 trillion. the fed just pumped $1.2 trillion into the economy

1:17:20 to 1:17:45( Edit History Discussion )

John McCain: the tarp -- troubled resources -- recovery program -- tarp was $700 billion. we just passed an omnibus bill of $410 billion. prior to that we passed a $1.1 trillion stimulus to cap it all off, the chinese

1:17:46 to 1:18:06( Edit History Discussion )

John McCain: own $2 trillion of our now, this is unprecedented expenditure of the taxpayers' dollars, and with no way of paying for it. so these are extraordinary times, and we need to do extraordinary things. but let we are doing to future generations of americans.

1:18:07 to 1:18:27( Edit History Discussion )

John McCain: you know, especially this time of year, madam president, i see lots of our citizens around the halls of congress carrying -- wearing badges and buttons and carrying signs, a the causes and believe in. and generally speaking, those causes and efforts in their view

1:18:28 to 1:18:49( Edit History Discussion )

John McCain: require more of our tax dol and i understand that. i appreciate it. it's wonderful to see. people exercising their right to petion congress, which is guaranteed by the constitution. but i don't see anybodyl that -- that's in e hall of congress for my kids and

1:18:50 to 1:19:10( Edit History Discussion )

John McCain: your kids and grandkids. 're laying an astronomical debt on them which they will have to pay for it sooner or later. one way is to print money. another way -- and that is hyperinflation, which is the greatest enemy of the middle class, and we've seen that before in so, yes

1:19:11 to 1:19:33( Edit History Discussion )

John McCain: that i'm talking about. yes, discretionary spending. and tell me a familyn america hardly that isn't having t put a cap on their spending. tell me a state legislature america that's not having to put a cap on their spending, that havenormous debts. my home state of arizona,

1:19:34 to 1:19:54( Edit History Discussion )

John McCain: looking at a $1 billion deficit. that's small compared to what's happening in california. madam president, i ask two additional minutes from senator gregg's time. the presiding officer: without objection. mr. mccain: so -- so my point here is -- and, by the way, one of the areas that i agree with both senator gregg and senator

1:19:55 to 1:20:16( Edit History Discussion )

John McCain: conrad, is we've got to have a commission that meets and makes tough decisions on entitlements. we know that be sustained at their present level. of course the first area we ought to look at is the $60 billion that the inspector general has said is medicare and medicaid every year.

1:20:17 to 1:20:38( Edit History Discussion )

John McCain: the tough decisions have to be made. this is a tough budget proposal here, madam president. this is tough. it caps discretionary spending, except for defense and veterans. it increases defense spending. we'r we're in and i'd like to give a little straight talk. in afghanistan it's going to get worse before it gets better, and

1:20:39 to 1:21:02( Edit History Discussion )

John McCain: it's going to cost more of american blood and treasure. it reduces the deficit and debt more than the proposals offered by or the president, and i would point out that 10 years is what we have to plan for rather than five. it addresses the critical

1:21:07 to 1:21:27( Edit History Discussion )

John McCain: prlem of medicare solvency by providing for a brac-like commission to reduce mandatory spending by at least 4% over the next five years. and it aaddresses our energy goals and it also extends the tax cuts. this is the increase anyone's taxes. history shows us that if we

1:21:28 to 1:21:49( Edit History Discussion )

John McCain: raise people's taxes in tough economic times, it exacerbates the economic problems. so, i don't pretend, madam president, this is i don't pretend that this doesn't affect many americans but if we lay this multitrillion-dollar debt on futu

1:21:50 to 1:22:05( Edit History Discussion )

John McCain: we have -- we have contradicted and betrayed the this nation has our history, and that is that the next generation of americans inherit a better na one that we d madam president, i