mr. van hollen. and so i would say that by supporting an unconditional increase in the debt limit, as more than 100 wrote in to their leaders, again, it does nothing to preserve for the future. at this time i yield to the gentleman from new mexico one minute. the speaker pro tempore: the gentleman from new mexico, mr. pearce, is recognized for one minute. mr. pearce: i thank the gentleman for yielding. in my district people ask, what is this vote about, this debt ceiling vote? so i've created a simple chart that says it as plainly as we can. we're spending $3.5 trillion in the country each year and we're bringing in $.2 trillion. it doesn't work for your pamly. it doesn't work for your business, and the not working for the country. in order to make up the difference we have to borrow that money, except that our bankers are saying no more, just as your bankers are saying no more. so we're printing the money to make this system work. it's a scheme that's not working. this chart in the upper right-hand

mr. van hollen and mr.burn that the talks were proceeding under the leadership of the vice president in a very spirit of goodwill and a constructive way and the past that could take us to agreement. let me yield to the distinguished representative, again ranking member of the budget committee, mr. van hollen. >> thank you. let me start by joining the leader pelosi in commending the president on his decision to release some stifel from the strategic petroleum reserve in concert with some of our allies. as you know, as a result of the defense in the middle east, there was a supply that fit a speculative bubble and there's a lot of speculation going on in the oil markets by people making a lot of money. simply by making bets the price of oil will go up. we have to pop the bubble, bring down the path. the price of gas at the pump and put more money back in people's pockets and help get the economy moving again. i feel was a very good decision, and we commended the president on that decision. with respect to the

mr. van hollen. the speaker pro tempore: the gentleman from maryland is recognized for three minute. mr. van hollen: i thank my colleague and, ladies and gentlemen, this is a political stunt. i just heard our friend from texas on the republican side say republicans wanted to tear up the credit card. it was just a few weeks ago when the republican budget passed this house all but four republicans voted for it. let me show you what that did to our credit card. here we are. we are about $14 trillion in debt. the budget, all but four republicans voted for, takes us up toward $23 trillion, $24 trillion in debt. $8 trillion increase in the national debt by passing the republican budget. so clearly this isn't about tearing up the credit card. what is this about? this is about threatening to default on the full faith and credit of the united states unless we put into place the republican budget, including their plan to end the medicare guarantee and to slash medicare benefits. that's what this is all about.

mr. van hollen. the speaker pro tempore: the gentleman from maryland is recognized for three minute. mr. van hollen: i thank my colleague and, ladies and gentlemen, this is a political stunt. i just heard our friend from texas on the republican side say republicans wanted to tear up the credit card. it was just a few weeks ago when the republican buet passed this house all but four republicans voted for it. let me show you what that did to our credit card. here we are. we are aut $14 trillion in debt. the budget, all but four republicanvoted for, takes us up towar $23 trillion, $24 trillion in debt. $8 trillion increase in the natial debt by passing the republican budget. so clearly this isn't about tearing up the credit card. what is this about? this is about threatening to default on the full faith and credit of the united states unless we put into place the republican budget, including their plan to end the medicare guarantee and to slash medicare benefits. that's what this is all about. they said

mr. van hollen. the speaker: the gentleman from maryland is recognized for two minutes. mr. van hollen: thank you, mr. speaker. i thank my colleague. this is not an ordinary house rule we'll be voting on today. the resolution deems the provisions of the republican budget to have, quote, full force and effect. in other words, a vote on the rule today is essentially another vote on the republican budget plan that protects subsidies for the big oil companies while ending the medicare guarantee and slashing investments in education. those wrong-headed priorities were thoroughly rejected in the recent special election in new york, the american people clearly oppose a one-sided plan that would immediately reopen the prescription drug doughnut hole and tells seniors that in 10 years they will pay $9,000 more for their current set of benefits, or take deep cuts in those benefits. ladies and gentlemen, the median income of seniors on medicare is less than $21,000 a year. what kind of budget says we are going to require seniors with median incomes of $21,000 a year to pay $9,000 more i

mr. van hollen. that is not the issue. the issue is how do we work together to reduce the deficit, to have fairness in our taxes and to preserve medicare, to create jobs, to make it in america and i'm going to yield. >> the point of these meetings as both parties come out and talking to the president and hope for the same position. >> well, the fact as the vice president has said as mr. clyburn i have said as our republican counter parts have said we have made progress on the issue. have we agreed on the politically nuclear issues? the reality is no. we have made progress. and we're going to have to find a way to address this issue going forward. but again true to the principles that i just outlined and that is -- and that is why we're continuing at that effort and the president has put a proposal on the table. he did so a number of weeks ago where he laid out quite a clear proposal. >> i think mr. van hollen is correct. this is a thousand-mile journey that we're on here. and we are taking some first steps. and i do believ

mr. van hollen. the speaker pro tempore: the gentleman from maryland is recognized for three minute. mr. van hollen: i thank my colleague and, ladies and gentlemen, this is a political stunt. i just heardur friend from texas on the republican side say republicans wanted to tear up the credit card. it was just a few weeks ago when the republican budget passed this house all but four repuicans voted for it. let me show you wh that did to our credit card. here we are. we are about $14 trillion in bt. the budget, all but fo republicans voted for, takes us up toward $23 trillion, $24 trillion in debt. $8 trillion increase in the national debt by passing the republican budget. so clearly this isn't about tearing up the credit card. what is this about? this is about threatening to default on the full faith and credit of the united states unless we put into pce the republican budget, including their plan to end the medicare guarantee and to slash medicare benefits. that's what this is all about. they said, whoa, we're going to hold this whole thing up until we get our way. let me tell you wha

mr. van hollen and mr. clyburn have talked about. but we're going to get this done, we're going to work together in the final analysis. i believe john boehner and eric cantor when they say default is not an option. it would have catastrophic consequences which we as americans are not going to let happen. : affordable quality health care to lower those costs and energy and the green infrastructure for country. and these investments in science and knowledge he as well as tax credits and the rest would be used to make us number one. the president said it. woo out innovating out the. some are going to do it in a new way to peace new industries for countries to be competitive to be number one in the world. and he reiterated that today. so this is not a contradiction of terms. it's actually a reinforcement of the same message. and very important to it is all of these point to making it in america. >> the president tomorrow will be going to toledo. hope you talking about an extraordinary success over the last 18 months, where we invested in

mr. van hollen and mr. cliburn. was at the talks -- was that the talks with the vice-president.a spirit of goodwill and a constructive way. host: the comments of democratic leader nancy pelosi yesterday on capitol hill. this thed comment from oblivi vivianne, one of our regular tweeters. what is your take on all of this? caller: i think president obama has put our country in so much debt that the cities cannot get any money from the federal government for their roles or homes or nothing. this is worse than jimmy carter. we cannot even go grocery shopping without high prices at the grocery stores. gas prices have gone up. i do not understand this. we have to start getting out the votes this year for the republicans. we are just going to go more and more in debt with the president, sending more people to work. our debt is growing and growing. i do not think we're getting anywhere. host: thank you for the call. a couple of editorials, beginning with "the washington times" this morning. host: melanie is joining us on the line for independents from maryland. good morning. we will go

mr. van hollen, mr. clyburn on our side we are very hopeful that these talks will prove fruitful and that we can move ahead. we believe it's critical, as you know. and as you have articulated that we address the default prevention responsibility that we share. clearly america wants to pay its bills. the american public expects us to pay our bills and the international community expects us to pay our bills. you and i have both read quotes from mr. bernanke, business leaders like jamie diamond, economist and others who have indicated that failure to assure that america does not fall on its -- default on its bills will have very dire consequences both here and around the world. i am hopeful, mr. leader, that although i did not announce it, we have very little time left, as you know, before the august 2 date which secretary geithner has indicated is the date on which we will no longer have the cash flow ability to meet our obligations as they become due and to fund the programs that we have authorized and pr

mr. van hollen to see if he wants to reveal any of them. >> will look, the president when he gave his speech at george washington university laid out a framework. it is fair. it calls for significant cut in discretionary spending. i mean, it is a cut, not just in nominal terms, but in real terms than it will impose pain. and then, appropriators have to decide exactly how to allocate those decisions, and that pain, but it does require that, which is why, you know, he and we and others have made the point, if you're asking for significant changes in that area, why shouldn't we be asking gas companies to get rid of taxpayer subsidies? i mean, it's a very straightforward question and we really haven't gotten a good answer to that. >> general places they were talking about this cat is specific as you can get, examples of where you are willing to make the hard choices? >> all give you an example that's a hard choice for many people and has been a regional issue. i mention it because it been reported publicly, that agriculture subsidies in terms of ratcheting those down would be one example. and th