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."

Lee: Blocking 'Cut, Cap, and Balance' Vote is Shameful and Despicable

Jul 22, 2011

Following a procedural vote to prevent the "Cut, Cap, and Balance Act" from coming to the Senate floor, Senator Mike Lee released the following statement: Today, Majority Leader Harry Reid used procedural tactic to prevent a vote on a bill that is supported by two-thirds of the country. It is shameful, despicable, and an abuse of this chamber. We weren’t even allowed sufficient time to debate the one bill in Congress that would address the country’s most immediate challenges.

The Fuel of Perpetual Expansion -- Day Lee Briefing 7/22/2011

Jul 22, 2011

In 2006 and prior and in subsequent debt limit extension votes, there was no serious debate attached to it as to a permanent solution. We have to amend the governing document, the law of laws, the only kind of law that can bind future Congresses in order to solve this problem. We have to do it now. This is part of what it means to be an American. We as Americans crave liberty and we eschew tyranny to any degree.