Authors who have a very cool index of economic uncertainty. It is a very innovative paper. They estimated that the debt limit struggle probably subtracted about 1. 5 from gdp growth during that summer when it was happening egos of the uncertainty and inactivity that was caused by levels of uncertainty. Each time we go through that, there are consequences. I would like to add if that is what it takes to get spending under control, we need to concede that in the long run there will be a benefit, which means we do not have these deficits. In the fullness of time, whether a struggle last summer was worth it, if we have the spending cuts and deficits are lower, it might have higher Economic Growth in the long run because we went to that struggle last year. Your position is that we should be ready to go through that struggle again and to call upon the National Debt is necessary in order to enforce spending limits . That, of course, is not my position. We should never default on the National
In brooklyn is connected to it. It was totally filled with water. Both tubes, from one end to the other, from the manhattan end to the brooklyn end. Ere were close to 100 million gallons of water that had to be pumped out of that tunnel and its still not back up to snuff. Thats one of many examples. Theres so many. The mta did a very good job. I want to congratulate joe lhota. They moved their Rolling Stock to high ground. Tried to barricade this awful flood in the best way they could. Boy, its awful. The mta is the largest Public Transportation system in the country. Its the life blood of new york. Its our circulatory system. 3. 5 Million People g on and off Manhattan Island every day to work. Wow. 3. 5 Million People. I guess thats more than the people in mississippi and probably more than the people in dade county, any way. And we depend on it. 2. 63 billion trips a year. As i said, the mta took a lot of necessary precautions. But this is 108yearold system. Its the first major subwa
The bible teaches us behold how good and how pleasant it is for brethrens to well together in unity because the house divided will not stand. May your servants in this body not look to parties, personalities, preference or press, but may they focus on principles and people. Let no personal ambition blind them to their responsibilities and accountability. God, we call our representatives politicians, but you call them ministers. May all the members of this body make full proof of their ministry. Ask for your guidance and blessings on their decisions and grace on their families. I pray the members of this body will psyche thy will in ways and have the spiritual courage and grace to follow it. Lift them above the claims of politics onto the dimension of a higher calling and mission. We pray this prayer respect in all prayers, all faiths, but we prayer this prayer pray this prayer in the name of our lord and savior, jesus christ, and until you come, we pray, amen. The speaker the chair has
We are working very, very hard with other countries to work on the overall security issue. I was just in algeria and more ok wroe for the Security Dialogue in the last few days of last week, and we discussed specifically the training of personnel for a Rapid Response force in libya and the greater capacity going forward. I think everybody is concerned about libya in the current status. Thank you. Mr. Secretary, were almost at the end here. I know that senator corker has a few comments to make, and then ill close out, and well get you back to the challenges that we have all collectively face. Mr. Chairman, thank you. Mr. Secretary, thank you for being here. I would like to ask permission that the testimony on september 3rd be entered into the record. Especially as we have highlighted it. It tells a different story about why the administration was asking for the military strike, the limited military strike that the secretary alluded to. It was a very different story then than the story t
The work opportunity tax credit expired. Why not extend that, not only to those groups who qualify now but also to people who have been unemployed for a long time, to encourage employers to take a advance on them, to bring them into the back into the work force where they want to be. We could also include other provisions. For example, i have a bipartisan bill with senator donnelly and senator manchin and members on my side of the aisle that would fix the definition of fulltime work under obamacare so that it would be 40 hours a week and not 30 hours a week. We would go back to the standard definition of 40 hours a week. There are tax incentives having to do with bonus depreciation and Small Business expensing that would encourage Small Businesses to make the investments so that they can hire more employees. Madam president , we ought to have a full debate on all of these options, not just stop with one vote on whether or not to proceed to one bill to raise the minimum wage to 10. 10 w