Senate Democrats

Tag deficit

Reid Statement On Deficit Negotiations

Washington, D.C. – Nevada Senator Harry Reid released the following statement tonight on the need to prevent the United States from defaulting on our obligations: “Republicans have once again proven unable to overcome their ideological opposition to ending taxpayer-funded giveaways for millionaires, corporate jet owners and oil companies. I applaud President Obama for insisting that…

More

ICYMI: Richmond Times Dispatch: Virginia’s Young Gun Misfires

Richmond Times Dispatch – Jeff E. Schapiro: Virginia’s young gun misfires Jeff Schapiro July 17, 2011 Virginia’s young gun apparently shot himself in the foot. Eric Cantor this past week had an opportunity to define himself for an audience beyond the Beltway as more than a rigid conservative with one word in his vocabulary: no.…

More

A Default on Our Nation’s Debt Would Send America Back Into a Recession

A Default Would Destroy Over Half a Million Jobs. A Default Would Cost the Economy Hundreds of Thousands of Lost Jobs Every Year. “According to an analysis by the Federal Reserve, a one-percentage point rise in Treasury yields would reduce economic growth by 0.8 percentage points. That number sounds small, but it is not. Economists…

More

Senate Democrats Outline Stark Reality Country Will Face if GOP Forces Default on Debt

Senators Chuck Schumer (NY), Ben Cardin (MD) , Mark Begich (AK) and Chris Coons (DE) warned this morning of a calamitous outcome if the GOP forces the U.S. to default on its debt for the first time in history. The chart below illustrates just how difficult it would be for our country to pay its…

More

Reid: Congress Must Heed Warnings That Default Risks Global Financial Crisis

Investors, Bankers, Economists, Business Leaders and Credit Rating Agencies Agree Default Must Be Averted Washington, D.C.– Nevada Senator Harry Reid made the following remarks today on the Senate floor on Democrats’ efforts to cut the deficit and avert a default crisis. Below are his remarks as prepared for delivery: There are some in the Republican…

More

Reid: Democrats, Business Leaders Agree Default Is Not An Option

“It Is Absolutely Necessary that Congress Prevent a Disaster that Would Put Our Economy in Grave Danger” Washington, D.C.– Nevada Senator Harry Reid made the following remarks today on Democrats’ efforts to cut the deficit and avert a catastrophic default crisis. Below are his remarks as prepared for delivery: Sometimes it can be hard to…

More

In His Battle To Protect Tax Loopholes, McConnell Looks Like A General Without An Army

DPCC Releases New Video Showing How Far Out On A Limb McConnell Is On Revenues MCCONNELL CONTINUES TO STICK TO HIS GUNS ON REVENUE… McConnell “Slams Shut” The Door on Revenues. “Even as Cantor cracked the door open, however, Senate Minority Leader Mitch McConnell (Ky.) slammed it shut, reiterating the long-standing Republican position that policymakers…

More

Reid: Republicans Putting The Good Of Millionaires And Billionaires Ahead Of The Good Of This Great Nation

Washington, D.C.– Nevada Senator Harry Reid made the following remarks today on the need for shared sacrifice in deficit reduction efforts. Below are his remarks as prepared for delivery: Today the Senate will consider legislation calling on millionaires and billionaires to contribute to this country’s effort to reduce our deficit. Republicans have already asked the…

More