Budget Control Act of 2011

Floor Speech

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Ms. McCOLLUM. Mr. Speaker, the Budget Control Act Agreement (S. 365) is a terrible bill that I strongly oppose. This legislation is the product of the most disturbing political process I have witnessed during my time in Congress. For the first time ever, one of America's political parties showed themselves willing to throw the nation into default on our debt obligations for the sake of politics. By holding an increase in the debt ceiling hostage as a negotiating strategy, the Tea Party Republican majority in the U.S. House of Representatives imperiled millions of jobs, businesses, and the economic well-being of every American. A nonpartisan publication, the National Journal, declared that America has ``entered a new era of government at gunpoint.''

I find myself agreeing with Wall Street Journal editors who criticized the House majority's conduct during this process by saying, ``Republicans are not looking like adults to whom voters can entrust the government.''

The legislation that House Republicans are forcing on the country will slash trillions of dollars of investments at exactly the moment when more investment is needed to prevent our economy from sliding back into recession. Education, infrastructure, health research, public safety, clean energy and every other middle class priority will see cuts as a result of this bill.

An editorial in today's New York Times argues this deal will ``hinder an economic recovery.'' At a time when 14 million Americans are unemployed and economic growth has slowed to a crawl, why is Congress passing legislation that will ``hinder an economic recovery?'' Tying massive cuts to a debt ceiling increase is completely unnecessary, totally counterproductive, and it will make America's job crisis even worse. And, with this bill, the Republicans are tossing the heavy burden of deficit reduction onto America's middle class without asking even one penny from the nation's wealthiest individuals and corporations.

While I cannot support this agreement, President Obama and Democratic leaders deserve tremendous credit for their perseverance and determination in solving this manufactured debt crisis. Their efforts succeeded in protecting the economy from the unthinkable consequences of default and shielded Social Security, Medicare, and Medicaid from Republican cuts.

President Obama was forced to negotiate this agreement with radical Republicans who proved all to willing to send the economy into default. He was in a nearly impossible position. One would expect irrational, dangerous, and irresponsible negotiating tactics from North Korea's Kim Jong-il, but not from the Republican congressional leaders. President Obama did what the nation required in order to avert economic disaster.

Still, I cannot support this legislation. This is a bad bill on many levels, most of all because it forces a broken bargain that avoids economic collapse at the cost of an even slower and more painful economic recovery. It may even return the nation to recession.

This is bill is bad for America and I strongly oppose it.

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