Released by The Office of Senator John Cornyn:
WASHINGTON—U.S. Sen. John Cornyn (R-Texas) a member of the Senate Budget Committee, today spoke on the Senate floor to address the President's failed leadership during the ongoing debt ceiling negotiations:
"We all know that even if the August 2 deadline passes without a deal, according to the Bipartisan Policy Center, the United States Treasury will still have enough revenue - about $172 billion - to pay for Social Security benefits, to pay for Medicaid and Medicare, to pay active duty military, and other national priorities.
"Let me repeat: the only reason…seniors and our troops will see their checks stop coming is if the Obama Administration decides to make other spending a priority, and if the Obama Administration chooses to hold our troops and seniors hostage - just so they can raise taxes.