The Promise We Can't Make -- Day Lee Briefing 7/06/2011
Jul 6, 2011
Today’s Agenda
Today, Senator Lee continues to focus on the refusal of Senate Democrats to propose or pass a budget, or deal with most pressing fiscal issues facing the country. He has several media interviews and holds his weekly tele-press conference with Utah media this evening.
From the Senator’s Desk
“The American people understandably, justifiably and very correctly are demanding that before we raise the nation's debt limit yet again, before we extend yet another credit card for the United States of America, we commit to some kind of cuts. Future borrowing requires us to make future cuts. The problem with that is the moment that that debt is actually used up, the moment it's incurred, the American people are under an obligation.
“But if we make a promise today that we're going to cut, let's say $2 trillion or $3 trillion or $4 trillion over the next 10 or 12 or 14 or 15 years, that's a promise that we can't make. That's a promise that we can't really commit to because this Congress, the one that sits right now, will not be the same congress that convenes in January of 2013 or on January of 2015 or in future years.
“We've got to make changes right now. And the only way that we can commit to future cuts, to future structural reforms, the only way we can bind future Congresses is by amending the U.S. Constitution, to change the way we spend money, limit spending as a percentage of GDP and to require a supermajority to spend more than we have or to raise taxes.
“That's what we're demanding. We're willing to work, we're willing to come to the table on the debt limit, but we demand some kind of solution that will put us on course towards sanity. That's why we're here.” Floor Speech, June 30, 2011
Around the Water Cooler
Debt Ceiling: “Senate Majority Leader Harry Reid (D-Nev.) canceled a vote on legislation authorizing U.S. military action in Libya after facing pressure from GOP lawmakers, who warned they would vote the measure down in order to focus on budget matters.”
Spending Cuts: “[W]e’ve heard promises of spending cuts before.”
A Look Ahead
The Senate will continue to debate deficit reduction and the debt through the remainder of the week with a few possible votes on Thursday.
New Guards for Our Future
Jul 1, 2011
July 4th is Independence Day, the day we signed the Declaration of Independence. Varied historical accounts assert that it wasn't completely signed by all 56 delegates until August 2, 1776.
While it is sheer coincidence that 235 years later August 2 is once again looming as an important date in American history, it is an important fact to point out.
Spending Away Our Freedom -- Day Lee Briefing 6/30/2011
Jun 30, 2011
Today’s Agenda
Today, Senator Lee attends a Judiciary Committee hearing discussing oversight of the Financial Fraud Enforcement Task Force, tapes an interview with Judge Napolitano for Fox Business, and talks with the Wall Street Journal about the debt crisis.
From the Senator’s Desk
“By the year 2035, we are predicted to be spending almost 34% of gross domestic product through the federal government every single year. As a result, the federal government will be commanding a very substantial portion of the American economy.
“That makes every American less free. The more government spends, the more money it has access to. And the more it borrows on our behalf, the less free we become, the less individual liberty we have to spend our money, to use our resources to devote our lives in those pursuits that we would choose.
“That's why the Cut, Cap, and Balance Pledge is necessary to support individual liberty, to protect our most basic freedoms; it’s because it will protect us from the inexorable growth of government. “ -- Sen. Lee Floor Speech 6/29/11
Recent Votes
On Sen. Coburn’s amendment To prevent the creation of duplicative and overlapping Federal programs, Sen. Lee voted YEA
Around the Water Cooler
No Recess: “Senate to work next week on debt limit impasse”
Balanced Budget: “I think the states would ratify this so fast our heads would be spinning”
A Look Ahead
Sen. Harry Reid announced that the July 4th Recess would be cancelled. Sen. Lee and other GOP members called on the President and Democrats to begin serious work on handling the nations debt problem instead of going on vacation.
A Balanced Budget Amendment: The Path to Fiscal Sanity
Jun 30, 2011
We've got to make changes right now. And the only way that we can commit to future cuts, to future structural reforms, the only way we can bind future Congresses is by amending the U.S. Constitution, to change the way we spend money, limit spending as a percentage of GDP and to require a supermajority to spend more than we have or to raise taxes.
Lee, GOP Senators Push for Balanced Budget Amendment
Jun 29, 2011
Today, the Senate Republican Caucus began a coordinated effort to push for passage of the S. J. Res 10, the Hatch Lee Balanced Budget Amendment. Senator Mike Lee, a lead cosponsor of the bill, has consistently championed the need for binding, structural spending reforms like a constitutional amendment, even before joining the Senate. The bill would force Congress to balance its budget each year, limit spending to no more than 18% of GDP, and require a supermajority vote in both the House and Senate before raising taxes or increasing the nation’s debt ceiling.
Lee, Romney Talk Economy
Jun 29, 2011
“I appreciate Governor Romney taking the time to meet with me today,” said Sen. Lee. “I expressed my view that we are currently dealing with the critical fiscal issues of this generation and that we need strong leadership on these issues. I was happy to hear that Gov. Romney supports the Cut, Cap and Balance Pledge including a Balanced Budget Amendment—one of my top priorities—and that his focus remains on growing the economy to create good jobs for our country.”
Spending Caps Act -- Day Lee Briefing 6/28/2011
Jun 28, 2011
Today’s Agenda
Senator Lee attends a Froeign Relations Committee hearing on Libya and hosts his weekly press conference with Utah press.
From the Senator’s Desk
Senator Lee is an original cosponsor of Senator Toomey’s “Spending Caps Act” (S Con Res 21):
- Overview & Highlights
- Federal outlays are divided into six categories, each with its own spending cap
- Non-defense discretionary
- Defense
- Social Security
- Medicare
- Mandatory veterans
- “Other” mandatory spending
- Caps are set at the levels contained in Sen. Toomey’s fiscal year 2012 budget resolution (S. Con. Res. 21)
- Received near-unanimous Republican support in the Senate on May 25, 2011.
- Requires a two-thirds vote to waive the annual caps for any reason
- Separate sequestrations automatically reduce spending in each category if caps are exceeded
Recent Votes
On the nomination of James Michael Cole, of the District of Columbia, to be Deputy Attorney General, Senator Lee voted NAY
Around the Water Cooler
Spending: “Republicans on the House Energy and Commerce Committee released a report Monday night detailing what they say is nearly $100 million in “foreign handouts” to countries like China, Thailand and Indonesia to support various environmental programs over the last decade.”
Tax Hike: “What the president wants is some kind of a tax increase so that he can keep his political base hushed up and get the debt hike passed quickly.”
A Look Ahead
Senator Lee meets with the Utah Association of Secondary School Principals on Wednesday morning and will speak on the floor regarding the Balanced Budget Amendment. The Senator’s weekly Jell-O open house for constituents is tomorrow afternoon, as well.
DeMint, Lee, Paul Offer Bill to Begin Restoring Sound Money
Jun 28, 2011
Today, U.S. Senators Jim DeMint (R-South Carolina), Mike Lee (R-Utah) and Rand Paul (R-Kentucky) introduced the Sound Money Promotion Act, legislation that would remove the tax burden on gold and silver coins that have been declared legal tender by the federal government or state governments. On May 9, the State of Utah became the first state to recognize such gold and silver coins as legal tender for use within the state, and similar legislation has been introduced in 12 other states, including South Carolina.
Making it Worse -- Day Lee Briefing 6/27/2011
Jun 27, 2011
Today’s Agenda
Senator Lee meets with staff to discuss upcoming issues, including the budget and the ongoing conflict in Libya. He also has several media interviews, including PJTV, Politico, and Fox News.
From the Senator’s Desk
“Two years after the official end of the Great Recession, and one year after the Obama Administration declared “Mission: Accomplished” on the economy by celebrating the dawn of “Recovery Summer,” the United States economy remains in dire straits. And on closer inspection, the situation is even worse than the headlines suggest…What the president himself calls “Obama’s economy” and Rep. Wasserman Schultz says her party “owns” is, in fact, the worst economic recovery the American people have suffered through in a lifetime.
Highlights:
Since the start of the recession, total employment has declined 5.0%; the labor force has shrunk by 2.0 percentage points; and long-term unemployment is at 45.1%.
GDP growth (only 1.8% in the 1st quarter of 2011) has failed to keep pace with that of past recoveries.
Consumer spending, personal income, and consumer credit have all lagged significantly behind past recoveries.
The housing market remains depressed. Home prices are down 17.2% from the start of the recession, compared to an average price increase of 22.9% in past recoveries
Around the Water Cooler
Ethanol: “By cutting the ethanol break, senators have done more than many might have expected to show they are serious.”
Debt: “[B]y 2021, if nothing is done, we will owe more in debt than the size of our entire economy. The figures get worse.”
The Week Ahead: “The debt talks move to the next level this week when President Obama and Vice President Biden host the Senate leaders for separate meetings on the matter.”
A Look Ahead
Tomorrow, the Foreign Relations Committee will discuss the legality of the President’s actions with regards to Libya. The committee is expected to take a look at a resolution sponsored by Sens. Kerry and McCain that would authorize the operation for up to one year.
Raising Taxes is Off the Table - Floor Speech 6/27/2011
Jun 27, 2011
Senator Lee announces from the Senate Floor that tax increases are not a solution to our debt crisis. He reiterates the need to cut spending, cap spending, and pass a balanced budget amendment out of Congress.
