country for far too long. but our work is far from done. i am hopeful and confident we can get this done very quickly, this work -- this legislation we are working on now. but we still have to do things. many people in nevada and around the country are struggling for the essentials, that is, a jock. we have to move to a jobs agenda. if we need to move toward that as quickly as possible. we need to put this debate behind us as soon as we complete this legislation and put americans back to work. >> [inaudible] >> the question is, is there still a need for comprehensive deficit-reduction? the answer is not only s but hell yes. the joint committee idea was my proposal. i'm glad that senator mcconnell

has put his arms around this. i hope that we can get something done. i was just told as i was walking out of there, i hope it does not affect the vote over there, but i was told that representative cantor said, maybe i am wrong, someone just told me, that cantor said that revenue could very well be part of what we do on the joint committee. so, yes, that deficit is still a problem. it will be for long term. when we started the last congress, we found ourselves in a hold of the country has never seen before. we lost 8 million jobs with the bush administration. to show the difference, president clinton created 23 million jobs. we had a surplus when he took office of $7 trillion over 10 years, and now because of the fund paid for wars in iraq and afghanistan and the unpaid for

drug program, we are now $14 trillion. we have to work more and does a reduction. -- on deficit reduction. >> [inaudible] >> senator connally and i have spoken briefly on this. the decision is totally is. i'm going to make that decision at subsequent times. i have two weeks to do it after this bill is passed and is extremely important that i take people who are willing to make hard choices, but are not locked in. one of my friends ask me to be on the committee. but it does not bode well for me to choose someone that the world knows how they feel about it before they go when their. i think we better look at other

avenues, to pick three people, including the co-chair, they will work toward a solution for the long-term debt of our country. i had not thought about that. [laughter] that's it have no bearing, because people could vote against this bill and think the joint committee is still a good idea. listen, i am a longtime member of congress. i never count might vote until they are cast. i am hopeful, but you know if that the republicans are going have to produce some votes, and we're going to have to produce votes, so i'm not here to declare victory. we need to get this thing passed. [inaudible]

>> i was referring to people who said that the committee is a waste of time. nothing will happen there. i just think we have to go into this with people with their eyes wide open, willing to make difficult choices, but yet understand the political reality of the world we are 10. -- we are in. i feel like i am 25, but i am not. >> the house republican leadership also spoke to reporters about the compromise agreement reached sunday. on raising the debt ceiling and reducing the federal budget. this runs about 10 minutes.

>> good afternoon, everyone. in january, our first week that we were sworn into law was, the president as for an increase in the debt ceiling and i made clear at that time that there would be no increase in the debt ceiling without significant cuts in spending and changes to the way we spend the american people's money. shortly after that, i was in new york, gave a speech and outlined house being cut six state -- exceed the amount of the debt limit increase and that there should be no taxes as part

of this agreement. and when you look at all we have been able to achieve, we have met those to standards that have been outlined the main it is time for america deal with its spending problem and deal with the fact that we made promises to the american people that our kids and grandkids just cannot afford. in addition to that, we'll work with our members to listen to the american people who have a real interest in making sure that we do not get into the spot again and that we ought to have a balanced budget amendment to the constitution. and i think that if you look at the structure of the balanced budget issues in this agreement, it gives us the best shot that we have had in the 20 years i have been here to build support for a balanced budget amendment to the constitution to put that kind of fiscal handcuffs on this congress that are sorely needed. we have been operating under

balanced budget man -- if we had been operating under balanced budget agreement, we would never got myself into the mess we are in. this is not only import for fiscal future but for the fact that our economy needs to get going. beginning to take steps toward fixing our fiscal problems will and fact provide more confidence for employers in america, the people we expect to reinvest in our economy and create jobs. >> the house will vote on a measure today that although not perfect will begin to change the culture here in washington. for too many decades now up on the part of both parties, this town has spent money it does not have. and by sending to the congress this year 87 new republicans, the american people have actually changed that and change the direction of this country. it has so that the bill is not perfect and it is not, but changing the way that washington

spends taxpayer dollars is like redirecting an aircraft carrier. it is a monumental task. i think that in my experience trophoblast couple of months, i've been involved in a lot of discussion surrounding this issue. from day one this administration has been insistent that we raise taxes in order to solve this problem. i think the big win for us and for the american people is the fact that there are no tax hikes in this package. with so many people out of work, with a middle-class hoping for more jobs, the last thing we need right now are tax hikes. i am told that the leader on the other side of the building, the majority leader, went to the floor today and indicated that somehow i had changed my position on that. i can tell you flat out he is wrong. i insist again that now is not the time for us to be considering a tax hikes when there are over 9% unemployment

and to many people are out of work. >> what a difference one year makes. a year ago, washington thought that we just needed more spending. that thought that they need more government. after the elections, there's been a fundamental change. now congress has opened up, transparent, and if you watch the ideas coming to the floor, they have to be debated. you watch the leadership from this house, we will take the lead of moving this bill out as well. this bill does not give all the answers. this bill does bring accountability. this bill does put in needed spending controls. this bill does cut spending and does not increase it. i think was the second day when we were sworn in, they just wanted to increase it $2.4 trillion and nothing else.

we were at a crossroads. this is of fundamental change for this government in this country but is only a start. after we pass this, we will come back to continue to work to create the jobs for small business that we know will move this country in the right direction. >> the american people have said they are two -- too few jobs and too much debt. the legislation that the house will stint -- soon followed upon i believe helps to address both of those concerns. as our whip said when this debate started, there are those who still call for job killing tax increases from the federal government. it is not going to happen with this piece of legislation giving and this piece of legislation, for only the second time -- first time, i'm sorry,

in my life, government discretionary spending will go down two years in a row. the numbers relative to the problem are minimal. the directional change is huge. what i hear from job creators throughout this nation and the district represent is that we are worried about the debt, because we know we will have to pay for it. one of the great factors of uncertainty and lack of confidence that is contributing to our continued high rate of unemployment, and this piece of legislation takes a step in the right direction. and most importantly for many of us, who did not want to raise the debt ceiling, we now in this piece of legislation that we will soon vote upon plant the seed for the ultimate solution, and that is to compel the house,

compel the senate to vote on the first balanced budget amendment to the constitution in 15 years. families and small businesses have to do it, 49 of 50 states have the requirement to do it, the american people expect nothing less out of their federal government. so i look forward to taking that to date on the balanced budget amendment to the people of america and hopefully having it reported out to the states send. >> as i stand here, i cannot help but think about where we were a year ago when the congress was passing record new programs and spending and approving record deficits. today we of completely changed course and we are debating how much we can cut and what programs we can reduce. the speaker has said over and over that this is not a perfect

plan, but i view this as a significant step in the right direction. when you ask yourself, is this plan would help get our fiscal house in order, it is it going to make sure that we keep the american dream alive? i believe the answer is yes and i am going to be supporting this plan and i am urging my colleagues, both republicans and democrats, to support this plan. >> think about where we were in the beginning of this process for the president asking us for a blank check and he did not get that. we had a president asking us for big tax increase on job creators. he did not get that. we is said -- for every dollar of debt increase, how big dollar of cut spending. we got that. we have been trying to get discretionary caps and a lot since i've been here. we have been introducing legislation for the eight years to get caps on spending. we could not decathlon treasury spending when the republicans

were in the majority. we got that. that is important. we see this as a good step in the right direction to banks as a decent downpayment on the deficit and as a huge change in the culture of spending. we are cutting spending. we are spending much less money than we spent last year. you ever read that kind of statement around this town? we have a long way to go. this does not fix our problems but we believe that the value of this republican majority has been to change the culture. in the old days we have would you call to get part role, which meant that you could sweep the debt ceiling increase into a budget resolution and no one would really have to be seen voting for a. when we took the majority, we repealed the gephardt rule and did the sampling size of the public could see. what we did with that was used this as an opportunity to change the culture and spending and that is exactly what this bill

does. >> are you losing republican support because of concerns over does cut -- this fence cuts? >> i just met with all the members of our armed services committee. there philip we concerned about the numbers in this bill but as i told them, this is the best offense no. we are going to get. and if we do not pass the bill, it is clear to me what will happen. the defense number will go down. i believe that many of our members from the armed services committee will be supporting the work of the house. >> leader pelosi left the caucus and indicated that it was on you to bring our jardine in the house. it was incumbent upon the republicans. >> i would remind all of you that this is not just an agreement between the president

and myself, but an agreement between the bipartisan leaders of the congress and the president of united states. ultimately all thus have a responsibility, because they all signed off on the agreement, the bring sufficient votes to make sure that it passes. >> is it would put caps on discretionary spending and could not do it under previous republican congress's. when you put something like that out there, what is your argument to them? >> this is something we have been looking for four years. i think at the end of that this bill will prevail with the majority of republicans to bring this to assess two thirds of the cuts that we were looking for in our budget. to do we get one under% of discretionary cuts? no, we got two-thirds. that is better than 0%.

i'll take two thirds in my direction than anything else. i think that's why most republicans will support a. >> did they want all or nothing? >> you will have to ask those that feel the weight given -- that way. >> [inaudible] i havetor mcconnell like and talked about our upon as but i'm sure we will continue those conversations about one is to the committee. >> mitt romney says that this opens the door to higher taxes and thus defense cuts on the table. michele bachmann said that it is a $2.4 trillion blank check.

>> i have jobs to do here. those running for president have their own aspirations. my goal is to get this bill passed, signed into law, solve this debt crisis, and help give the american people back to work. >> after this afternoon, some members of the congressional progressive caucus said they would not vote for the compromise legislation to raise the debt ceiling and reduce the deficit. the house democrats said that it was a attack on the most vulnerable and criticized the lack of tax increases on the wealthy. this is about 15 minutes.

>> hello, ladies and gentlemen of the press. the name is keith ellison, i am a co-chair of the progressive caucus the bank -- the progressive caucus. i have a statement from the progressive caucus i like to share with you. all voting to increase the debt ceiling is a necessary step, the deficit reduction might measures included in this bill will further harm our economy and hurt working americans. with unemployment still above 9% and stagnating economic growth, taking out of the economy money that will only place a heavier burden on working families, this is the wrong approach for our economy

at the wrong time. it goes against our basic values. for that reason we in many of our members of the progressive caucus will be voting know. progressive are committed to austerity -- prosperity for the working class and we believe the reasonable deficit reduction can be achieved all advancing our values. but today's deals fall short. republicans asserted dismantled basic services for average working americans all spending more to support millionaires and corporations. tea party republicans have held our economy hostage that those demands, but deficit reduction should be enacted -- should not be enacted in a hostage situation. we of long said the default on the full faith and credit of the united states is not acceptable. if this bill is defeated, we urge the president uses authority under the 14th amendment to avoid default. we will continue to fight for programs to help working families brief tours in recent

weeks, the progressive caucus spoke with millions of people to help social security from being cut. but preventing the worst from happening is not enough, americans will not stand by what their livelihoods funders -- comes under attack. constructer economy in a way that benefits everybody, not just a special interest, and i just extremely wealthy. we can articulate oa a vision on what our country can achieve. that is the type of leadership american needs now. with that, i want to invite my co-chair and then other members of the progress of caucus giving >> thank you very much. i think the statement keith just read was the consensus of the members of the progressive caucus. a disappointment in the deal, frustration with the deal, frustration at the items that we wanted to put on the agenda that

needed to be heard in terms our revenue generation. concerns we had an expressed or extended periods of time dealing with that commission, its powers, and the trigger mechanisms part of this deal. and the negotiations from the conception that seemed to put vital domestic programs on the block in the areas that we need to -- that we said needed to be looked at, the tax breaks for corporations and individuals, were left off the table. that frustration is not just one that is billed out of the idea that we not -- we did not get out of our way urged our leadership over and over to take us to heart and to present a balanced and fair package. shared sacrifice, we believe in the concept, we believe in the concept of compromise, but we do not believe in a concept that is not a compromise, all taken no

give, we feel that this is not a compromise. but we will stand in opposition to and we feel that there is a better way. and the president can use his authority into and unilaterally under the constitution, he should, and we can look in a calm, rational way to look at spending and revenue generation. the tea party agenda one and they should be able to deliver the votes that they need to pass what is essentially their package. with that, let me introduce ms. barbara lee who has been a leader not only in the progressive caucus, the former chair of the black caucus, and one of the voices that we depend on in this congress to raise the issue for average americans and working folk. >> thank you, and let me thank

you for your leadership and congressman allyson for bringing together the product -- the protests of caucus to once again come forward and be the voice of the american people. none of us want to see our nation default. but after having reviewed this deal in detail for, for a number of reasons i am simply unable to support it. i associate myself with all the remarks that have been made already. it fails to adjust the most urgent crisis in this country, the lack of jobs and economic record at a time when investments are needed to jump- start their economy and put people back to work, i believe that this bill and its cuts-only approach, which is what it is, that is the wrong approach pitting clearly allowing -- the wrong approach. i think that this was a mistake. it is an outrage that as we stand here today, a clean debt ceiling vote and a reasonable, balanced approach to deficit reduction has been long

required. i can appreciate some of provisions to limit the impact of the cuts were included, but the bill falls short, very short of achieving a balanced necessary. the harsh reality is that the cuts will likely result in massive cuts to vital human needs and safety net programs and will cripple our ability to help the most vulnerable communities, including seniors, the poor, and low-income people struggling each and every day just to get by. it includes no revenues and no guarantee of revenues going forward. with over 45 million people living in poverty and the wealth gap at astronomical levels with community of color, we must demand, mind you, demand that the super rich and big oil and big corporations that into a tax giveaways and loopholes also contribute to this deficit reduction. finally, it is entirely unacceptable to me that this bill would open the door to the cuts in social security,

medicare, man medicaid giving enough is enough. we cannot allow the extreme to party republicans to advance their agenda to dismantle our government or boarding the extreme tactics with this bad deal. i continue to support the president using the 14th amendment if necessary to raise the debt ceiling and i will be voting no. >> i am lynn woolsey from california. we voted for a clean debt ceiling increase the spring. we voted over the weekend for the reid compromise. but at that time, we said, that was the saturday, that we would not vote for anything worse than reid compromise. this is worse today. i for one and those standing with me are not court to hold our noses once more and vote for the bill that is here.

i will not vote for this bill. this is not a balanced approach to controlling spending. it doesn't ask for shared sacrifice it puts virtually the entire burden on working families and the middle class while asking nothing, and i mean nothing, from billionaires', millionaires, and huge corporations, and corporations that sen jobs overseas. this deal does nothing to address the single greatest challenge we face today, creating jobs for ordinary americans barely getting by, who are struggling to pay the bills, to go to bed, they worry every single night, this deal is nothing to offer them. i cannot believe that this is being used to extort $2.4 trillion in cuts from programs

that americans need. they did not cause this deficit. it is not their responsibility to fix it event we can meet our fiscal challenges in a way that is fair, that is within our constitutional rights, and with all americans doing their part. i will vote against the bill today or tomorrow, whenever it comes to the floor. >> i think my colleagues have basically articulated the feelings of the progress of community in this country. and i would like to thank mr. allyson and mr. grijalva for their leadership and the progressive caucus and also lynn woolsey and bas-relief for consistently leading the progressive caucus. this bill is very disappointing for a number of reasons.

i cannot understand how we could walk out of a deal to raise the limits for the debt ceiling, at not having gotten any revenues in the bill in all we have our cuts. i am reminded that this is a very fragile economy peeving it is fragile and so many ways. first of all, the unemployment rates are astronomical. we have 9.2% in this country, and in the minority communities, 17% plus. some of these communities, the unemployment rates are 35%, 40%. when you add to that the loss of wealth by latinos, 63% loss in household wealth, and with african americans, over 50% loss in household wealth, we need to be talking about stimulating the economy. just thi