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Senate Proceeding on Sep 26th, 2008 :: 1:23:59 to 1:39:04
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Chuck Grassley

1:23:55 to 1:23:59( Edit History Discussion )

Chuck Grassley: double assuming to the department of energy's estimate of nearly 2 trillion potentially recoverable barrels. so it's a huge that i think we're talking about now. the rand corporation projects that

Debbie Stabenow

1:23:59 to 1:24:03( Edit History Discussion )

Debbie Stabenow: within the first 12 years of commercial production, these barrels would be recoverable at prices as low as $35 to $48 per barrel. you see, there are problems out there. we've been arguing on the

Debbie Stabenow

1:23:59 to 1:39:04( Edit History Discussion )
Speech By: Debbie Stabenow

Debbie Stabenow

1:24:03 to 1:24:07( Edit History Discussion )

Debbie Stabenow: floor of the senate, and the democrats refuse to increase the supply or vote for any increase in oil or gas in america. now, we had the outer continental shelf discussion that's going on. this bill doesn't

Debbie Stabenow

1:24:07 to 1:24:12( Edit History Discussion )

Debbie Stabenow: affect that. however, since 1982, democrats in the environmental left have blocked access to 85% of america's outer continental shelf resources. within this year's record-high gas prices, americans

Debbie Stabenow

1:24:12 to 1:24:16( Edit History Discussion )

Debbie Stabenow: have demanded that the democrats in congress allow us to produce from our own resources with just six weeks until election day, democrats have finally relented. we held a news conference yesterday.

Debbie Stabenow

1:24:16 to 1:24:20( Edit History Discussion )

Debbie Stabenow: we all celebrated the fact that we're going to allow these two moratoria to expire. now, this bill would stop the expiration of the moratoria on shales. the interior department estimates the outer continental

Debbie Stabenow

1:24:20 to 1:24:25( Edit History Discussion )

Debbie Stabenow: shelf contains 19 billion barrels of undiscovered recoverable oil. that equals 35 years of imports from saudi arabia. so you can see -- you can see that while that is great, the outer continental shelf,

Debbie Stabenow

1:24:25 to 1:24:29( Edit History Discussion )

Debbie Stabenow: we want to remove that moratoria. it's even much more important that we do it with oil shales because of the sheer sizes of it. as i say, the vote doesn't affect outer continental shelf, but it

Debbie Stabenow

1:24:29 to 1:24:33( Edit History Discussion )

Debbie Stabenow: does the oil shales. the americans spent more than $327 billion to import oil from -- in 2007. these imports account for 46% of the nation's $711 billion trade deficit last year. by opening the

Debbie Stabenow

1:24:33 to 1:24:36( Edit History Discussion )

Debbie Stabenow: outer continental shelf and oil shales, america could cut that trade deficit in half. assuming a $130 price for a barrel of oil, america will trade more than $135 billion to saudi arabia and venezuela

Debbie Stabenow

1:24:36 to 1:24:41( Edit History Discussion )

Debbie Stabenow: for oil imports this year. the oeufl and oil shale production could -- the outer continental shelf and oil shale production could stop this transfer of oil and create hundreds of billions of dollars

Debbie Stabenow

1:24:41 to 1:24:45( Edit History Discussion )

Debbie Stabenow: at home within our country and not overseas. america is not running out of oil and gas or running out of places to look for oil and gas. america is running out of places where the democrats in congress

Debbie Stabenow

1:24:45 to 1:24:49( Edit History Discussion )

Debbie Stabenow: are allowing us to look for oil and gas. it was a great celebration we had on wednesday, that the moratoria would be lifted in both areas. and this bill would go back and extend the moratorium on

Debbie Stabenow

1:24:49 to 1:24:53( Edit History Discussion )

Debbie Stabenow: the shales, the largest opportunity that we have and potential we have for reserves and for lowering the price of gas at the pumps and that we will be dealing with this year. with that, i will yield

Debbie Stabenow

1:24:53 to 1:24:57( Edit History Discussion )

Debbie Stabenow: the floor. mrs. murray: mr. president? the presiding officer: the senior senator from washington state is recognized. mrs. murray: thank you, mr. president. before i speak, i would like to ask unanimous

Debbie Stabenow

1:24:57 to 1:25:01( Edit History Discussion )

Debbie Stabenow: consent that following my remarks on the democratic side, senator baucus be allowed to speak. following senator baucus, senator byrd. the presiding officer: without objection, so ordered. mrs. murray:

Debbie Stabenow

1:25:01 to 1:25:06( Edit History Discussion )

Debbie Stabenow: thank you, mr. president. as all of us are aware today, j.p. morgan has agreed to buy washington mutual, based in my home state of washington. i have been in touch with j.p. morgan and with wamu about their

Debbie Stabenow

1:25:06 to 1:25:10( Edit History Discussion )

Debbie Stabenow: plans and i have been assured that the transition will go smoothly and washington mutual's banking customers will not see any interruption in service. and that is good news. it is, of course, still too early

Debbie Stabenow

1:25:10 to 1:25:13( Edit History Discussion )

Debbie Stabenow: to know the impact that the failure of wamu, the nation's largest thrift, will have on our local jobs, but it is further evidence to me that the economic crisis has spied over into our communities.

Debbie Stabenow

1:25:13 to 1:25:18( Edit History Discussion )

Debbie Stabenow: i'm very saddened that it's having an impact on families and our economy, and yet it is another sign that we must find a bipartisan solutionow. we are working together quickly to reach an agreement.

Debbie Stabenow

1:25:18 to 1:25:22( Edit History Discussion )

Debbie Stabenow: we have rejected the president's $700 billion blank check because it did not ensure oversight or protection for our taxpayers. the democrats and republicans in the senate are working with the house

Debbie Stabenow

1:25:22 to 1:25:27( Edit History Discussion )

Debbie Stabenow: democrats, the treasury, and the fed to come up with a solution that keeps this crisis from hitting more communities. we are hopeful that the house republicans will come to the table and work with

Debbie Stabenow

1:25:27 to 1:25:31( Edit History Discussion )

Debbie Stabenow: us on a solution that protects american taxpayers. and as we do this, i firmly believe that we must also offer the american people a hand and help get our economy going in communities across this

Debbie Stabenow

1:25:31 to 1:25:35( Edit History Discussion )

Debbie Stabenow: country. and, mr. president, we now have an opportunity here today to help millions of struggling families who are grasping for a life line as this economy sustains blow after blow. long before this

Debbie Stabenow

1:25:35 to 1:25:39( Edit History Discussion )

Debbie Stabenow: economic crisis rippled across our financial system, middle-class families were already reeling under the impact of failed policies that were implemented by president bush and backed by john mccain.

Debbie Stabenow

1:25:39 to 1:25:43( Edit History Discussion )

Debbie Stabenow: and it is critical that we act now to help those families, those small businesses, state and low cool governments get -- and local governments get back on their feet. and the bill that i'm hoping

Debbie Stabenow

1:25:43 to 1:25:47( Edit History Discussion )

Debbie Stabenow: we will vote on shortly will do just that. this bill brings security to seniors who are facing a stack of medical bills they can't afford to pay. it offers help to families who have seen the value of their

Debbie Stabenow

1:25:47 to 1:25:50( Edit History Discussion )

Debbie Stabenow: homes drop below the amount that they owe. it ensures that the most vulnerable americans can continue to put food on their table and keep a roof over their heads. and it creates jobs at a time when

Debbie Stabenow

1:25:50 to 1:25:55( Edit History Discussion )

Debbie Stabenow: millions of workers have been laid off and millions more are worried that their job is going to be next. the bush-mccain economic philosophy of hands off has done its damage. it is tim that we now put the

Debbie Stabenow

1:25:55 to 1:25:59( Edit History Discussion )

Debbie Stabenow: interest of the american people first again. mr. president, the bill that i hope we vote on shortly will do just that, and i want to take a few minutes this morning to underscore the importance

Debbie Stabenow

1:25:59 to 1:26:04( Edit History Discussion )

Debbie Stabenow: of what that bill will do. first of all, mr. president, dropping home values and dwindling business revenues have put our state governments under extraordinary financial stress at a time when they can least

Debbie Stabenow

1:26:04 to 1:26:08( Edit History Discussion )

Debbie Stabenow: afford it. as a result of the white house's failed policies, republican and democratic governors now across the country are facing drastic cuts in services from health care to education to law enforcement,

Debbie Stabenow

1:26:08 to 1:26:12( Edit History Discussion )

Debbie Stabenow: and they are looking and asking for relief from this washington. already sta euts state-supported health -- already state supported clinics and hospitals are closing. schools are pushing more and

Debbie Stabenow

1:26:12 to 1:26:15( Edit History Discussion )

Debbie Stabenow: more students on fewer teachers. and fully trained police officers are being asked to hand in their badges because their departments can no longer afford to keep them on the beat. this bill would allocate

Debbie Stabenow

1:26:15 to 1:26:20( Edit History Discussion )

Debbie Stabenow: about $20 billion to help our states continue to provide the services that our citizens depend on. next, mr. president, this package puts workers on the job immediately by providing $8 billion for highway

Debbie Stabenow

1:26:20 to 1:26:24( Edit History Discussion )

Debbie Stabenow: projects in every one of our states. now, mr. president, as chairman of the appropriations subcommittee on transportation, housing, and urban development, i have been watching with dismay as the construction

Debbie Stabenow

1:26:24 to 1:26:28( Edit History Discussion )

Debbie Stabenow: sector of our economy has endured hundreds of thousands of layoffs over the last several months. construction jobs play a critical role in our economy. they provide a living wage that enables those

Debbie Stabenow

1:26:28 to 1:26:31( Edit History Discussion )

Debbie Stabenow: families to keep food on their tables. but, mr. presint, the construction industry is now facing its highest unemployment rate in 13 years. a couple of c months ago, an estimated 783,000 jobless laborers,

Debbie Stabenow

1:26:31 to 1:26:36( Edit History Discussion )

Debbie Stabenow: carpenters, plumbers, pipefitters, and other tradesmen were looking for work wherever they could find it. so with that in mind, and watching that happen, i helped to craft a transportation and housing

Debbie Stabenow

1:26:36 to 1:26:43( Edit History Discussion )

Debbie Stabenow: infrastructure package that is in this bill that addresses our most critical needs. it requires that we spend the money fast so that we will see an immediate impact on our economy in every one of our

Debbie Stabenow

1:26:43 to 1:26:59( Edit History Discussion )

Debbie Stabenow: communities. you know, mr. president, every state across this nation has a highway, transit, or airport maintenance project tt's ready to go to construction. but they lack the money to buy the rebar

Debbie Stabenow

1:26:59 to 1:27:14( Edit History Discussion )

Debbie Stabenow: or purchase the timber or order the concrete or even pay the workers. this bill that we are considering will allow those projects to get up and running right now, when we desperately need those jobs. this

Debbie Stabenow

1:27:14 to 1:27:33( Edit History Discussion )

Debbie Stabenow: funding will create more than 278,000 family-wage jobs in a sector that has taken it on the chin over the last year, and it does it fairly and it does it responsibly. mr. president, this bill requires

Debbie Stabenow

1:27:33 to 1:27:44( Edit History Discussion )

Debbie Stabenow: those highway dollars be spent according to the formula that was established in our safety-- in our safet lu highway law. states have to use these tkhrarts within 90 days all of us heard about

Debbie Stabenow

1:27:44 to 1:28:02( Edit History Discussion )

Debbie Stabenow: the increasing demand for public transportation as gas prices have gone through the roof. for example, amtrak, our nation's railroad, continues to set records now for its ridership. well, the bill that

Debbie Stabenow

1:28:02 to 1:28:18( Edit History Discussion )

Debbie Stabenow: we are considering today makes urgently needed investments in amtrak and mass transit. it provides $2.35 billion until funding to improve and expand our bus and rail systems, including $350 million to repair

Debbie Stabenow

1:28:18 to 1:28:31( Edit History Discussion )

Debbie Stabenow: railcars and make other necessary improvements to the amtrak network. and most importantly, that will put another 70,000 americans back to work. mr. president, the bill also includes $400 million for

Debbie Stabenow

1:28:31 to 1:28:46( Edit History Discussion )

Debbie Stabenow: capital projects at our nation's airports and $44 million to modernize our nation's shipyards to make them competitive and efficient. it provides money to ensure that americans who rely on public housing

Debbie Stabenow

1:28:46 to 1:29:03( Edit History Discussion )

Debbie Stabenow: will continue to have a roof over their heads. and it will help address a growing problem in our communities. renters who have lost their homes because their landlords were foreclosed on. this bill

Debbie Stabenow

1:29:03 to 1:29:20( Edit History Discussion )

Debbie Stabenow: includes $200 million to help those tenants find immediate shelter and long-term housing. it includes money so the public housing authorities can refederal the vacant units. this bill will increase benefits

Debbie Stabenow

1:29:20 to 1:29:34( Edit History Discussion )

Debbie Stabenow: for those jobless americans who, at a time when unemployment is the highest since 2003, need to know they can keep food on their tables. mr. president, our economy has bled jobs every single month

Debbie Stabenow

1:29:34 to 1:29:46( Edit History Discussion )

Debbie Stabenow: since year. hundreds of thousands of workers are wondering how they're going to pay their mortgages or pay for their food or their heat. the job lots rate now stand -- the jobless rate now stands at 6.1%

Debbie Stabenow

1:29:46 to 1:29:58( Edit History Discussion )

Debbie Stabenow: and worse in the states where manufacturing and auto industries have been faltering four years. this bill reaches out to those families by extending unemployment benefits by just seven weeks across the

Debbie Stabenow

1:29:58 to 1:30:11( Edit History Discussion )

Debbie Stabenow: country and 13 weeks in states where the jobless rate is the highest and it invests in our workforce by helping laid off workers search for a new job or learn skills so they can go back into the job market

Debbie Stabenow

1:30:11 to 1:30:24( Edit History Discussion )

Debbie Stabenow: and be competitive. it also, mr. president, helps our teenagers get job experience and helps them find long-term employment. mr. president, i want my colleagues to know teenagers are among the

Debbie Stabenow

1:30:24 to 1:30:38( Edit History Discussion )

Debbie Stabenow: hardest hit by the economic crisis today. almost 20% of our teenagers are unable to find a job and the number is even higher among minorities. so it's critical we enable these young people to get worker experience

Debbie Stabenow

1:30:38 to 1:30:50( Edit History Discussion )

Debbie Stabenow: now because if they lose out they're less likely to manufacture into a career later. now, teens without jobs are more likely as we all know to turn to crime organics in these difficult -- crime

Debbie Stabenow

1:30:50 to 1:31:01( Edit History Discussion )

Debbie Stabenow: or gangs in difficult times causing lost productivity. i ask for three additional minutes. the presiding of ficer: without objection, so ordered. mrs. murray: this bill helps support part-time jobs

Debbie Stabenow

1:31:01 to 1:31:15( Edit History Discussion )

Debbie Stabenow: after school, paid internships and community service jobs for older youth. those programs will pay off in the long term. mr. president, i just talked about a few of the programs in this package which

Debbie Stabenow

1:31:15 to 1:31:29( Edit History Discussion )

Debbie Stabenow: i believe are a critical shot in the arm to help our economy. it is not going to come a moment too soon. the economic crisis we're facing is a direct result of failed policies by this president and

Debbie Stabenow

1:31:29 to 1:31:41( Edit History Discussion )

Debbie Stabenow: this administration in the long run. we are hearing now we need to bail out wall street. well, mr. president, this package before us will help average citizens across our country get the security

Debbie Stabenow

1:31:41 to 1:31:58( Edit History Discussion )

Debbie Stabenow: they need as they face this troubling crisis. i urge our colleagues to help us work this to get to a vote, send a message across the country that we in the united states senate and congress stand behind

Debbie Stabenow

1:31:58 to 1:32:09( Edit History Discussion )

Debbie Stabenow: them, the working families of this country. thank you, mr. president. i yield the floor. the presiding officer: the senior senator from montana. mr. baucus: i ask consent that kelly pollson and aliciaj

Debbie Stabenow

1:32:09 to 1:32:22( Edit History Discussion )

Debbie Stabenow: johnson be granted floor privileges. the presiding officer: without objection, so ordered. mr. baucus: it was written by an economist: there are two kinds of economists; those who don't know the future

Debbie Stabenow

1:32:22 to 1:32:37( Edit History Discussion )

Debbie Stabenow: and those who don't know they don't know the future. mr. president, in that sense we're all economists now. we're all uncertain about our economic future. we do know the stakes for our economic future

Debbie Stabenow

1:32:37 to 1:32:53( Edit History Discussion )

Debbie Stabenow: are high. we know the economy is doing poorly right now. during the last eight months, more than 600,000 people lost their jobs. housing prices have been falling. last month the median home sales

Debbie Stabenow

1:32:53 to 1:33:10( Edit History Discussion )

Debbie Stabenow: price fell 9.5%, the largest decline since record-keeping began in 1999. and the experts say we have not yet hit bottom. last month, there were mor than 300,000 closures, a 12% increase from the previous

Debbie Stabenow

1:33:10 to 1:33:29( Edit History Discussion )

Debbie Stabenow: month and a 27% increase from a year before. consumer confidence is low. last december the conference board index for consumer confidence was above 90. now it's below 57%. last month, retail sales fell

Debbie Stabenow

1:33:29 to 1:33:42( Edit History Discussion )

Debbie Stabenow: by .3%. in this downturn congress acted early in february on a bipartisan basis passing an economic recovery bill including a tax rebate that put money in people's pockets. in the second quarter, gross domestic

Debbie Stabenow

1:33:42 to 1:33:51( Edit History Discussion )

Debbie Stabenow: product was larger than otherwise it would be. almost all the checks have been spent and the checks have all been sent and the who is still in bad shape. we need another economic recovery package and

Debbie Stabenow

1:33:51 to 1:34:04( Edit History Discussion )

Debbie Stabenow: that is what this bill provides, including help for workers who have lost their jobs, a further expansion in the number of weeks of unemployment benefits and much else. in june, congress passed

1:34:04 to 1:34:16( Edit History Discussion )

an extension of the number of weeks of unemployment benefits. the extension provides those who exhaust their regular 26 weeks of benefits become elgible for additional 13 weeks. we tried to add in a provision

1:34:16 to 1:34:33( Edit History Discussion )

for another 13 weeks of benefits for those in high unemployment states but some of our colleagues and the president opposed that provision so it was dropped in conference. in august, unemployment

1:34:33 to 1:34:50( Edit History Discussion )

hit 6.1%, the highest level in five years. here we are in september and the economy is still struggling, in fact, in worse shape. in october, for example, it is anticipated that 775,000 workers will,

1:34:50 to 1:35:07( Edit History Discussion )

humidity 13 -- will ex-humidity 13 weeks of additional benefits and it will end up being a million workers who have exhausted benefits. this bill provides extra benefits for all states and make right

1:35:07 to 1:35:19( Edit History Discussion )

what we cannot do early this year: providing additional 13 weeks of benefits for individuals in states with unemployment higher than 6%. at the moment, that's 18 states. it will help areas hit by federally-declared

1:35:19 to 1:35:31( Edit History Discussion )

disasters and there will not be a waiting period for extended unemployment benefits including in times of disaster. this bill will provide much needed help for overburden state employment systems. we are

1:35:31 to 1:35:42( Edit History Discussion )

a society this cares about all of its people. hard economic times, giving additional weeks of unemployment benefits to those who cannot find a job is clearly the right thing to do. but there's another

Debbie Stabenow

1:35:42 to 1:35:52( Edit History Discussion )

Debbie Stabenow: reason: providing extra weeks of unemployment benefits will help stimulate the economy. people who are unemployed lose the income from their jobs, they generally don't have the income they need

Debbie Stabenow

1:35:52 to 1:36:04( Edit History Discussion )

Debbie Stabenow: and if they receive more money they are likely to spend it. hence, unemployment benefits. when the unemployment workers spend their money, the folks who create the goods and services they will buy,

Debbie Stabenow

1:36:04 to 1:36:23( Edit History Discussion )

Debbie Stabenow: they, too, will need more workers and those workers will spend the earnings they get and the cycle goes on and economists call this the multiplier effect. the chief economist and cofounder of moody's

Debbie Stabenow

1:36:23 to 1:36:33( Edit History Discussion )

Debbie Stabenow: economy is mark zan dy estimating for each $1 of unemployment benefits the economy grows by $1.64 compared to other options, this option is a bang for the buck. we need to extend the number of weeks of

Debbie Stabenow

1:36:33 to 1:36:47( Edit History Discussion )

Debbie Stabenow: unemployment benefits and strengthen the economy we need to provide fiscal relief to state governments. mr. president, in the interest of time, i conclude my statement here and i ask the rest of the

Debbie Stabenow

1:36:47 to 1:37:00( Edit History Discussion )

Debbie Stabenow: statement be included in the record including reasons why we have to help stimulate the economy to help states and, also, other reasons why we need to pass this bill with special reference to medicaid

Debbie Stabenow

1:37:00 to 1:37:19( Edit History Discussion )

Debbie Stabenow: payments, additional medicaid payments states have to pay when there's an economic downturn and medicaid is a federal-state program, all the more reason why the economic stimulus bill can pass to help

Debbie Stabenow

1:37:19 to 1:37:59( Edit History Discussion )

Debbie Stabenow: the states otherwise that have to make up the difference in medicaid payments. mr. president, i yield the floor. mr. baucus: i suggest the absence of a quorum. the presiding officer: the clerk will call

Debbie Stabenow

1:38:27 to 1:38:39( Edit History Discussion )

Debbie Stabenow: the roll. quorum call: mr. byrd: mr. president? the presiding officer: the president pro tempore is recognized. birr by i thank the chair. mr. president, i support -- the presiding officer: the senator from

Debbie Stabenow

1:38:39 to 1:39:04( Edit History Discussion )

Debbie Stabenow: west virginia is notified we are in a quorum call mr. byrd: i ask unanimous consent the call of the quorum be rescinded. the presiding officer: without objection, so ordered. the senator may proceed.

Chuck Grassley

1:39:04 to 1:39:23( Edit History Discussion )

Chuck Grassley: mr. byrd: i thank the chair. mr. president, am i recognized? the presiding officer: the senator from west virginia is recognized. mr. byrd: i thank the chair. mr. president, i support the reid-byrd

Chuck Grassley

1:39:04 to 1:45:36( Edit History Discussion )
Speech By: Chuck Grassley

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