Department of Defense and Futher Additional Continuing Appropriations Act, 2011

Floor Speech

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Mr. WELCH. Thank you, Mr. Dicks.

There is something we have to acknowledge, whatever side of the issue we are going to vote on: we are playing with fire. A government shutdown is going to have two consequences: one, the obvious, and that is folks that depend on governmental services are going to be enormously inconvenienced. Contractors who are owed money from the Federal Government won't be paid. Our citizens are going to be adversely hurt. And folks who work honestly and hard every day for the Federal Government are going to be out of a job. That's significant.

But what's really significant in the long term is that this is sending a signal to the world, not just America, that the American political process is fundamentally broken. If we are unable to reach an agreement on a 1-week continuing resolution to keep government going, what are the prospects for us when we face the challenge of a budget next year? What are the prospects for us when we face the challenge that looms ahead of us in May of raising the debt ceiling so that America can honor the obligation that it has to pay its bills?

When the world begins to lose confidence that America's political process can function, it is going to have a very dramatic and negative impact on the economy. Interest rates are going to go up because the cost of borrowing will go up because the anxiety about whether America meets its obligations will increase. We are playing with fire here.

The biggest problem I have with the proposals that have been made fiscally on the other side in my view is that they are designed to fail. It's not that there isn't a legitimate concern about spending and getting our fiscal house in order. You're right about that. We share that. But if we're going to get from here to there, you cannot attack 100 percent of the problem on 12 percent of the budget.

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