The White House has developed a fascinating infographic that looks at the actual drivers of our nation’s staggering debt. It reveals that the policies of the previous administration resulted in $7 trillion in new debt, whereas the policies of the current administration have resulted in $1.4 trillion in new debt.
In a new video for the Senate Democratic Caucus, Senator Coons explains the difficult choices a default would force the government to make.
Our nation is just over six days from the most predictable economic crisis it has ever experienced.
The debate over whether to raise the debt ceiling has been both frustrating and dangerous. On August 2nd, the United States will hit what’s known as the ‘debt ceiling,’ preventing our nation from borrowing the money it needs to meet its obligations.
Failing to raise the ceiling doesn’t cut up the President’s credit cards or deny Congress a blank check. It’s actually much more like our nation outright refusing to pay its mortgage.
The implications for a family that defaults on its mortgage are extensive and last for years. Economists agree that the impacts on a nation that defaults on its debt would be catastrophic and last for generations. That’s why making sure America does not default on its mortgage has been one of my top priorities since coming to Washington.
As you may have seen in the news, Washington is at an impasse about the way forward.
The amendment being offered by Senator Reid and endorsed by President Obama is not ideal, but it’s what we need to avert the full onset of economic catastrophe. The plan produces $2.7 trillion in savings through a blend of discretionary spending cuts to which the other party has already agreed. It does not touch Medicare, Medicaid or Social Security and it does not increase revenue or reform our tax system.
This approach is not ideal, but we’ve been left with little choice. We simply cannot afford for America to default on its mortgage.
All Americans would feel the impact of a default. If the government isn’t able to meet the obligations to which it has already committed, the Treasury Department could be faced with brutal choices about what to pay and what not to pay. Do we pay for Social Security but shut down the FBI? Do we pay for Medicare but stop food inspections?
Increased interest rates on mortgages, student loans, car loans and credit cards will hit nearly every American. Economists are predicting job losses of more than 600,000 if we default, and it’s going to be harder than ever for small businesses to access the capital they need.
By defaulting, we will have communicated to the world in no uncertain terms that the United States is no longer the safest investment of its money.
We cannot afford for America to become a bad investment. As we close in on the August 2nd deadline, I will continue to work make sure it never does.
Our nation is just over six days from the most predictable economic crisis it has ever experienced.
The debate over whether to raise the debt ceiling has been both frustrating and dangerous. On August 2nd, the United States will hit what’s known as the ‘debt ceiling,’ preventing our nation from borrowing the money it needs to meet its obligations.
Failing to raise the ceiling doesn’t cut up the President’s credit cards or deny Congress a blank check. It’s actually much more like our nation outright refusing to pay its mortgage.
The implications for a family that defaults on its mortgage are extensive and last for years. Economists agree that the impacts on a nation that defaults on its debt would be catastrophic and last for generations. That’s why making sure America does not default on its mortgage has been one of my top priorities since coming to Washington.
As you may have seen in the news, Washington is at an impasse about the way forward.
The amendment being offered by Senator Reid and endorsed by President Obama is not ideal, but it’s what we need to avert the full onset of economic catastrophe. The plan produces $2.7 trillion in savings through a blend of discretionary spending cuts to which the other party has already agreed. It does not touch Medicare, Medicaid or Social Security and it does not increase revenue or reform our tax system.
This approach is not ideal, but we’ve been left with little choice. We simply cannot afford for America to default on its mortgage.
All Americans would feel the impact of a default. If the government isn’t able to meet the obligations to which it has already committed, the Treasury Department could be faced with brutal choices about what to pay and what not to pay. Do we pay for Social Security but shut down the FBI? Do we pay for Medicare but stop food inspections?
Increased interest rates on mortgages, student loans, car loans and credit cards will hit nearly every American. Economists are predicting job losses of more than 600,000 if we default, and it’s going to be harder than ever for small businesses to access the capital they need.
By defaulting, we will have communicated to the world in no uncertain terms that the United States is no longer the safest investment of its money.
We cannot afford for America to become a bad investment. As we close in on the August 2nd deadline, I will continue to work make sure it never does.
From Tuesday’s News Journal: Following Senator Coons’ participation in a briefing on “cool roofs” at the Environmental and Energy Study Institute this past Thursday, many of us on staff have been thinking excitedly about the future of urban energy conservation and the potential we have right over our heads. Wade Malcolm at The News Journal explores the emerging “green roof” movement in an article today about the University of Delaware’s first green roof, which covers the Colburn Laboratory and was designed and planted by students, faculty, and staff.
On a warm fall day in 2008, Annette Shine sat in a classroom teaching a course she likes to call “how not to blow up a chemical plant.” Her group of University of Delaware chemical engineering students struggled to learn the difficult material in a sweaty, 86-degree room. The building’s ventilation system had been switched over to heat for the winter, so forget about air conditioning. Shine opened a window, but construction nearby made too much noise. So she and her students treated it as an engineering problem, and eventually, they came up with a solution. Grow a garden on the roof.
This fall, people looking over a one-story wing jutting out from the south side of Colburn Laboratory will see an array of colorful plants covering the flat tar roof. The 14,000 square feet of small sedums planted in trays with 4 to 8 inches of soil will be UD’s first “green roof.” “There was no good way to cool the building if it got hot certain times of the year,” said Shine, an associate professor. “And it’s a popular classroom even though it can be uncomfortable, so this will help.” Rooftop vegetation has sprouted on campuses across the country, from community colleges to Ivy League institutions.
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The new Interdisciplinary Science and Engineering Laboratory, currently under construction on Academy Street, is being built to accommodate a green roof. Nelson hopes the visibility of the Colburn Lab project will inspire more greening elsewhere in the university. “We wanted the first one to be in a visible place to kind of market it to the rest of campus,” [assistant professor of landscape design Chad] Nelson said.
The process was not without its challenges. It required a structural engineering study to ensure the roof wouldn’t collapse under the weight of the garden, and facilities personnel wanted assurances that the plants would not become a maintenance hassle. Shine credited the students for helping her through the long process. “Chad and I provided continuity, but the students did a lot of the legwork,” she said.
Read the full story in The News Journal. To learn more about Chris’ work as a member of the Senate Energy and Natural Resources Committee, click here.
Chris was on MSNBC Monday afternoon talking with Dylan Ratigan about the plan for averting the default crisis offered Monday by Senate Democrats.
Though the Senator believes it’s unfortunate that Congress wasn’t able to get the bigger, $4 trillion deal that he, the President, Senate Democrats and at least a dozen Senate Republicans were looking to reach, he believes we have to move forward and focus on something that can succeed in averting this default crisis. Senator Reid’s plan does that.
Watch video of his interview below:
NEW CASTLE COUNTY — Senator Coons and the Congressional Delegation visited Fulcrum and Radius Rx Direct Pharmacies in New Castle County on Monday morning to recognize the owner of the pharmacies, Christy Crkvenac, for being named the Delaware Small Business Administration Person of the Year. Crkvenac was also selected by President Obama as a 2011 Champion of Change.
Christy and her husband, Todd, run the day-to-day operations and serve many of the long-term care and correctional facilities in Delaware and surrounding states. The Crkvenac’s pharmacies are recognized as examples of how health care costs can be contained through the use of best practices and innovation. They achieve success in a competitive market and average 12 percent annual growth even during the economic downturn.
Chris was impressed by the Crkvenacs’ drive. The companies were founded in 2003 with the help of a $200,000 SBA loan and six employees — they now employ more than 30. “The Crkvenacs saw a need in the community and turned that need into a successful business,” Chris said. “We need to continue to support small business owners everywhere. They are the ones who we can count on to provide unique customer-oriented services, and they are the ones who are putting Delawareans back to work.”
The SBA’s mission is to maintain and strengthen the nation’s economy by aiding, counseling, assisting and protecting the interests of small businesses. For more information contact the SBA at 302-573-6294 or via the website at www.sba.gov.
NEWARK — Senator Coons joined Delaware Department of Transportation Secretary Shailen Bhatt, Governor Jack Markell, Federal Highway Administrator Victor Mendez and the rest of the Congressional Delegation at the I-95 Newark Toll Plaza Highway Speed Lanes Completion Ceremony.
Chris helped commemorate the completion of the toll plaza’s reconstruction, and the establishment of the highway speed E-ZPass lanes. The $32 million project was funded through the American Recovery and Reinvestment Act (ARRA) and was completed nearly a month ahead of schedule. A major benefit of the project included the 300 construction-related jobs.
Chris spoke about the importance of I-95 as it passes through the First State. He highlighted the fact that the highway plays a key role in boosting tourism, and that it makes Delaware more accessible for those who want to do business here. Chris, who is on the Energy Committee, also pointed out that the addition of highway speed E-ZPass lanes eases congestion and therefore saves in fuel costs.
DelDot officials say the upgrades will significantly reduce traffic delays. A toll collector is able to process about 250-300 transactions an hour while the highway-speed EZPass lanes can process over 2,000.
Monday, July 25 at 8:30 a.m. – The Senator will join the Congressional delegation in a visit to Delaware’s Small Business Person of the Year, Christy Crkvenac. Crkvenac, founder and owner of Fulcrum Pharmacy and Radius Rx Direct, was recognized by the Delaware Small Business Administration for her ability to grow her business even during the economic downturn. Crkvenak was also named one of President Obama’s “2011 Champions of Change.” Fulcrum Pharmacy, Wilmington, DE – Open to press.
Monday, July 25 at 10:00 a.m. – The Senator will join U.S. Transportation Secretary Ray LaHood and the Congressional delegation for the rededication of the I-95 Newark Toll Plaza. The toll plaza now has two highway-speed E-ZPass lanes in the northbound and southbound directions. The goal is to ease congestion at the toll plaza where traffic counts range from 110,000 vehicles a day, to more than 140,000 during holidays and tourist seasons. Open to press.
Monday, July 25 at 2:00 p.m. – The Senator will preside over the Senate. Washington, DC – Open to press who wish to sit in the Senate gallery.
Tuesday, July 26 at 11:00 a.m. – The Senator will speak at NDN/NPI’s “A Look at Current Global and Domestic Economic Challenges” event. Senator Coons will be part of a panel conversation including Rep. Adam Smith and UK Shadow Foreign Secretary Douglas Garven Alexander. 2212 Rayburn House Office Building, Washington DC – Open to press.
Tuesday, July 26 at 2:30 p.m. – The Senator will attend the Senate Foreign Relations Committee business meeting. S-116, U.S. Capitol, Washington, DC – Open to press.
Wednesday, July 27 at 2:15 p.m. — The Senator will meet with the Delaware Nurses Association. Dirksen Senate Office Building,Washington, DC – Closed to press.
Thursday, July 28 at 8:30 a.m. — The Senator will appear on C-SPAN’s Washington Journal program. 3rd Floor Rotunda, Russell Senate Office Building, Washington, DC.
Thursday, July 28 at 10:00 a.m. – The Senator will attend the Senate Judiciary Committee business meeting. Among the bills to bemarked-up by the committee is S.657, which is cosponsored by Senator Coons and would encourage, enhance, and integrate “Blue Alert” plans throughout the United States for disseminating information when a law enforcement officer is seriously injured or killed in the line of duty. 226 Dirksen Senate Office Building, Washington, DC – Open to press.
Thursday, July 28 at 10:30 a.m. – The Senator will attend the Senate Democratic Steering and Outreach Committee meeting on labor. U.S. Capitol, Washington, DC – Closed to press.
Thursday, July 28 at 11:30 a.m. – The Senator will meet with Delaware Representatives from Girls and Boys Nation. U.S. Capitol, Washington, DC – Closed to press.
Friday, July 29 at 9:30 a.m. – The Senator will preside over the Senate (if in session). Washington, DC – Open to press who wish to sit in the Senate gallery.
Saturday, July 30 – The Senator will attend the Delaware State Fair. 18500 South DuPont Highway, Harrington, DE – Open to press.
Nearly eight months after the Senate voted to repeal Don’t Ask, Don’t Tell and allow gay and lesbian service members to serve openly in our armed forces, the President, Secretary of Defense, and Chairman of the Joint Chiefs of Staff certified that the appropriate preparations had been made and that the repeal could be implemented.
Senator Coons praised the news, saying, “This is an important moment for the men and women of our armed forces and a significant step forward as we work to end discrimination by the federal government against LGBT Americans, especially those who serve our nation in uniform. With its certification of readiness today, the Defense Department is confirming what our military personnel told us last year — that our armed forces will continue to be the most capable and professional fighting force in the world, regardless of the sexual orientation of those within its ranks.”
Chris not only voted for the repeal, but cosponsored it.
“Don’t Ask, Don’t Tell is discrimination, plain and simple,” he continued. “As the brave men and women who serve our country in uniform have the courage to fight for our freedom, we should likewise defend theirs. I was proud to not only vote to repeal Don’t Ask, Don’t Tell during the lame duck session, but to cosponsor it. I have closely monitored its implementation these last seven months and look forward to seeing the ban on service finally lifted once and for all this September.”
Check out the official certification from the White House below.