Full Text Debt Ceiling Showdown July 31, 2011: Senate Minority Mitch McConnell’s Statement that Republicans Agreed on a Debt Deal with White House & Democrats

POLITICAL SPEECHES & DOCUMENTS

THE HEADLINES: DEBT CEILING SHOWDOWN: OBAMA VS CONGRESSIONAL LEADERS

McConnell: Framework Now Exists to Prevent Default, Cut Washington Spending

Source: McConnell Senate, 7-31-11

U.S. Senate Republican Leader Mitch McConnell made the following statement on the Senate floor Sunday on a proposed framework to prevent default and reduce Washington spending:

“This is an important moment for our country. I appreciate the Majority Leader’s comments and want to say a few words to our colleagues who have been so patient over the past several days, and whose ideas and encouragement have been so helpful in getting us to this point.

“First of all, let me reiterate that before any agreement is reached, Republicans will meet to discuss the framework that the White House and the congressional leaders in both parties think would meet our stated efforts to cut spending more than the President’s requested debt ceiling increase, prevent a national default, and protect the economy from tax increases. And to that end, I would like to say to my Republican colleagues that we’ll be holding a conference meeting in the morning to discuss this framework and give everyone a chance to weigh in.

“But at this point I think I can say with a high degree of confidence that there is now a framework to review that will ensure significant cuts in Washington spending. And we can assure the American people tonight that the United States of America will not for the first time in our history default on its obligations.”

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