Senators say bipartisan plan necessary to avoid economic disaster
July 30th, 2011
07:19 PM ET
3 years ago

Senators say bipartisan plan necessary to avoid economic disaster

Washington (CNN) -– Three senators from across the spectrum of ideological positions said Saturday that a bipartisan debt ceiling deal was necessary in order to prevent economic crisis.

Sen. Mark Warner, a Democrat; Sen. Rob Portman, a Republican; and Sen. Rand Paul, a Republican associated with the tea party, all said they were willing to work with members of the opposite party to strike a deal. Yet all three offered different specifics when it came to plans.

“We're still trying to compromise and many in the media are trying to depict us that we're not,” Paul told CNN’s Don Lemon. “We have offered up on the floor another chance to compromise. I said I'll vote for the Reid bill, I'll vote for the entire $2 trillion that the president wants so he can avoid talking about this during his campaigning.”

Paul specified he was offering to vote for the Reid proposal if it added provisions for an amendment to the Constitution that required a balanced budget.

Virginia Senator Mark Warner, a Democrat, told CNN’s Wolf Blitzer that the bipartisan plan offered by the “gang of six” was an example of something that members of both parties could agree upon.

“Let's make sure we get a vote on something that is comprehensive, that's bipartisan,” Warner said. “That's the only thing we're asking or at least I'm asking for. A third of the Senate says hey, if not the ‘gang of six’ plan, let's do something else that's comprehensive.”

Warner is a member of the “gang of six,” a group of three Democrats and three Republicans who have offered a debt ceiling plan. He said he was still hopeful that plan would get a vote in the Senate.

“It can't be a Democrat or Republican plan only,” Warner said. “I look around this town, the ‘gang of six’ plan is the only plan in this city that has a third of the Senate saying let's go forward with that framework. I hope at the end of the day that gets a vote.”

Sen. Rob Portman, a Republican senator from Ohio, said that the two plans coming from the House and the Senate were not far apart, and that reconciling them was critical in preventing an economic crisis.

“I think there's an agreement now that there has to be real and credible reductions in spending,” Portman said on CNN. “If you look at the Boehner proposal compared to the Reid proposal, there's some similarities. I'm hopeful we can come together.”

Portman said the consequences of allowing the United States to default on its debts would be grave.

“Americans would be hurt,” Portman said. “Anyone who borrows, people who have car loans and student loans and credit card debt. Mortgages would be going up. Interest rates going up make it harder for small businesses to create jobs and opportunities. So this is of serious concern.”


Filed under: Mark Warner • Rand Paul • Rob Portman
soundoff (78 Responses)
  1. GOP = Greed Over People

    At this point I am just ready to end the drama and the constant coverage which only makes us look like childish fools to the rest of the world.

    The same world that used to look to us for our compassion, composure, intelligence and smart leadership. The globe used to look to us to be the grown-ups.

    However, we have now shown the entire world, Congress is just a very, very expensive day care center.

    July 30, 2011 07:33 pm at 7:33 pm |
  2. Randy, San Francisco

    Great to hear adults in the US Senate indicating a compromise is possible. Hopefully this will motivate House members to pass a compromise deficit bill and end the newbie Tea Party hobbit strangle hold.

    July 30, 2011 07:54 pm at 7:54 pm |
  3. Michelle

    We get what we vote for "republican."

    Why on earth would anyone vote republican?

    I just turned 18 and I'm going to vote in the next election. What I see and ear, a republican will never have my vote, never!

    July 30, 2011 07:58 pm at 7:58 pm |
  4. jorge b acevedo

    We haave to mine chirdeen for father and motrer inligo en luoisiana resssive money for thiis goveme and father y mother working no tax colect thank jorge..

    July 30, 2011 08:05 pm at 8:05 pm |
  5. steven maul

    This is getting old enough is enough.

    July 30, 2011 08:09 pm at 8:09 pm |
  6. Dan in Albuquerque

    What the Republicans call compromise is putting something in the bill that is entirely impossible or unacceptable. It takes 2/3 vote of the states to change the constitution, so how does anyone think a binding balanced budget law will work? There is no time for that. And, forcing two stages to this thing so that Obma will have to deal with the same thing again in 2012 insted of compaigning. They have given the Democrats nothing, but say they have tried to compromise. With the Tea Pasrty minority running everything in their party, the rest of them had better get on board a sane plan instead of destroying the economy with their idiotic capitulation to extremism.

    July 30, 2011 08:10 pm at 8:10 pm |
  7. Dan in Albuquerque

    What the Republicans call compromise is putting something in the bill that is entirely impossible or unacceptable. It takes 2/3 vote of the states to change the constitution, so how does anyone think a binding balanced budget law will work? There is no time for that. And, forcing two stages to this thing so that Obma will have to deal with the same thing again in 2012 insted of compaigning. They have given the Democrats nothing, but say they have tried to compromise. With the Tea Pasrty minority running everything in their party, the rest of them had better get on board a sane plan instead of destroying the economy with their capitulation to extremism.

    July 30, 2011 08:11 pm at 8:11 pm |
  8. Noise

    If McConnell is so correct about negoiating with the Vice President and they are so close, why hasn't the VP, talked to CNN, and why hasn`t CNN confirmed this either way? Or is McConnell thinking that there are 307 million simpletons in this coumtry?

    July 30, 2011 08:12 pm at 8:12 pm |
  9. Anonymous

    why do so many people think it's fine and dandy that the government spends more money than it brings in? Try running your financial house that way and see were it gets you...broke! And why is our government giving away our tax dollars to help other countries when we can't afford it? That's like donating to the church on your credit card. In theory it's honorable and it makes you feel all warm and fuzzy inside. BUT, you couldn't afford it if you had to put it on credit. The bible tells us "the borrower is slave to the lender" why is the government putting more burdens on us and our children to help foreign countries when ours needs it!

    July 30, 2011 08:13 pm at 8:13 pm |
  10. Mark Hildebrandt

    I think that the Tea Party wants Obama out so badly that they WANT unemployment to go up and a double-dip recession. Well, be careful what you wish for.

    I think that Obama will have to use the powers granted to him under the 14th Amendment to pull us back from the brink.

    July 30, 2011 08:14 pm at 8:14 pm |
  11. Yomi Ramos

    Every politician need to rally around the commander and chief – President Barrack Obama and resolve this debt ceiling crisis pronto so as to alleviate the fears, suffering and anxiety of the common people which is what the President is trying to accomplish. The reason why "Apple" as a company has more money than the United States treasury is because a lot of money was invested into providing the much loved technology people want and therefore willing to buy or pay for – this is what the government should do to ensure a better, brighter and healthy future for it's citizens. The republican party should and must pay close attention to Apple's example.

    July 30, 2011 08:15 pm at 8:15 pm |
  12. Noise

    If McConnell is so correct about negoiating with the Vice President and they are so close, why hasn't the VP, talked to CNN, and why hasn`t CNN confirmed this either way? Or is McConnell thinking that there are 307 million simpletons in this country? (Sorry for the typo)

    July 30, 2011 08:15 pm at 8:15 pm |
  13. Sherry T

    Eliminate the meaningless debt ceiling number. That is the REAL problem.

    July 30, 2011 08:15 pm at 8:15 pm |
  14. Marilyn

    Get out of NATO! WE, the Americans, are footing over 75% of the bill & the other countries are not living up to commitments! Don't build another EU building that will cost US another $100mil to protect. Let Bush Tax Cuts Expire. Close ALL the corporate & personal loopholes & majority of subsidies. The ONLY touching of MediCare & SS should be ways & means test! Trust Fund (ex)friend of mine is getting ~$5k mo on himself & deceased wife, plays all the major loopholes with Boards he Chairs, etc. It's disgusting how the system is set up, used, & abused! lol, this 'gentleman' even gave ck for ponzi scheme (infront of my eyes!) to former Presidential Advisor to both Reagan & Bush Sr. (I wasnt cognizant of illegality of it at time). Oh, also do away with Congress voting themselves raises like thieves in the night. Outlaw Lobbyists! THEY are the ones running crooked politics! That's my rant for now. Hopefully THIS post won't be deleted as prior one mentioning pres advisor.

    July 30, 2011 08:18 pm at 8:18 pm |
  15. John

    The republican and the Tea Party are out to destroy America. They have No Plan To Compromise,the just want there dumb Idea pass. This Is what happen when you vote for these Idiot. I hope America has learn from this. These people are for Big Business and the Rich and they don't care about the rest of us at all.

    July 30, 2011 08:20 pm at 8:20 pm |
  16. Debbie

    Done with Congress. They have multiple times tried to negotiate and their lack of skills has produced nothing more than watching the stock market with our 401K's go down. Ground that was hard to gain back since 2008. So I don't have any confidence in Congress. Obama should very publically ask; the US Supreme Court does he or does he not have the authority to invoke the 14th amendment. If they respond yes then on August 1st at 11:55pm he should invoke the 14th. (Allowing the children of Congress to once more do their job) If the US Supreme Court says no then Obama has no other choice but to sit back with the rest of America and watch the US Congress fail America. The US Congress is a mass failure!

    July 30, 2011 08:25 pm at 8:25 pm |
  17. annieLD

    There is nothing standing in the way of Congress reducing spending, reforming the tax code, reforming Medicare and Social Security, or passing a ballanced budget amendment. Nothing. It could have been done last year or ten years ago. It can be done next month. next year or ten years from now. Why does any of this have to be tied to the debt ceiling that must be raised TODAY? Why? Only becuase the Republicans say it must be. Only because Republicans are using it to blackmail a Democratic president and blame him for default.

    July 30, 2011 08:33 pm at 8:33 pm |
  18. un hopeful

    Well isnt this progress? no? not to me either...sen paul lay off the ammendment crap! do you honestly think anyone thinks you are seriuos about compromise? we do not! this is not the time or place to do this!

    July 30, 2011 08:39 pm at 8:39 pm |
  19. gary

    Pass a clean debt increase to enable the government to pay the bills it currently owes. This has always been done in the past, but Republicans have always hated the idea of a black president and will do anything in their power to see him defected. The middle class citizen is losing thousands of dollars in their 401 k's these past few weeks and it will only get worse. After a clean debt increase is signed by the President, then the congress can go back and do what they always do. Talk and accomplish nothing. The house work schedule of being in session for two weeks and then out of session for one week is a complete joke. Cantor said it was for the members of congress to visit their districts and talk to the people. What a LIE. Boehner visits his district every two years to beg for re-election. His every third week off is usually in Florida playing golf at some country club. Term limits should be voted in and their $ 174,000 annual salary reduced by 50 %. All members of congress, especially Cantor, Boehner, McConnell and Reid would not last one week in a private company. They would actually be expected to work and produce positive results every day of the week, rather then just stroll around the halls of the capital.

    July 30, 2011 08:39 pm at 8:39 pm |
  20. Dan

    The more comments I read from Congressional members, the more I realize that they have been intentionally destroying America. Good grief, the majority of Americans have been pushing for President Obama's $4 trillion debt reduction plan.

    Congress continues to be deaf.

    July 30, 2011 08:41 pm at 8:41 pm |
  21. Henry Miller, Libertarian

    As long as the deal eliminates deficit spending for anything other than real emergencies–like WW III–it might fly.

    July 30, 2011 08:56 pm at 8:56 pm |
  22. Thankfully Independent

    So if the Tea Bag Party is seperate from the Republican Party, why do the Republicans control the House? The Dems have more House Reps than the Reps or the Tea Baggers.

    July 30, 2011 09:02 pm at 9:02 pm |
  23. beautysmom

    I find it really interesting that it is impossible to send Rand Paul a message unless you live in Kentucky. Bought and picked up my last Corvette.... A BBA is a complete disaster for the country, but then again, we need to keep that trillion dollars a year in "tax expenditures" (special loopholes in the tax code) because the folks who benefit from them contribute by and large Republican.... And an independent like me doesn't matter until it becomes time to vote.... Good grief, when are the Republicans going to grow up and understand that politics is "the art of compromise", not the line in the sand? Curse you Rupert Murdoch and all the rest of the right-wing media owners for polarizing my country.... I will be looking for a new mortgage on my house next month–not willing to pay the tax of 12 or 15% interest because the extreme right wing demanded the impossible.... We all know how I will not be voting!

    July 30, 2011 09:10 pm at 9:10 pm |
  24. ABC70÷

    Shutup and get it done! Too much postering too little accomplished. Time for common sense to prevail. You can't keep hiding from the truth spending yourself broke is more than stupid..it is criminal.

    July 30, 2011 09:15 pm at 9:15 pm |
  25. daniel Petruis

    Please make a deal and say it to the world now!!!

    July 30, 2011 09:19 pm at 9:19 pm |
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