POLITICS

Debt Crisis: Republican Leaders Push Balanced Budget Amendment in House and Senate
While Dems and Liberal Media Demagogue

July 14, 2011

7:25 pm, Central

Diane W. Collins

dcollins@marketingweb.com

 

Cantor, Boehner introduce Balanced Budget Amendment 7-14-11

House Majority Leader Cantor & Speaker Boehner

Balanced Budget Amendment

Speaker John Boehner, (R-OH) and House Majority Leader Eric Cantor (R-VA) showed their solidarity regarding the debt limit debate as they held a press conference today to push for a balanced budget amendment to the Constitution.

 

Lately, Cantor has faced intensifying rancor from the Left. His refusal to allow any increase in taxes has won him the Left's ire. It's been reported that President Obama became so frustrated during talks at the White House yesterday he told Cantor not to push him to the wall or Obama would "take it to the American people." Sorry, Mr. President. You already played that hand and lost when you told seniors and veterans they might not get their checks in August. The public outcry against such "fear mongering" has been substantial.

 

And what about Treasury Secretary Tim Geithner's "false and misleading" remarks concerning the potential default of the United States? The liberal mainstream media picked this up and ran with it while Democrats channeled Reagan, blamed Bush and told Republicans they didn't understand the financial complexities. Thankfully, the Conservative intelligentsia is not dead. Yesterday, scholar Veronique de Rugy from the Mercatus Center, George Mason University set left-leaning media outlet, Bloomberg straight. During a Reality Check segment, Ms. de Rugy stated even if the debt ceiling isn't raised the US won't default. She explained where and how Treasury has funds not only to service debt obligations but to meet social security payments as well. Yet, this morning Bloomberg's In the Loop reporters seemingly unrepentant degraded the financial prowess of House Republican freshmen calling them "ignorant." (I, of course, enjoyed reminding Bloomberg they had spent weeks mischaracterizing "default" and parroting Geithner. Mercatus "schooled" them. So, who is ignorant?)

Senate Minority Leader, Mitch McConnell

Balanced Budget Amendment

 

But, most interesting was Bloomberg's reporters incredulity regarding today's

stable bond market. After all, Standard & Poor's, Moody's, Fitch had all warned of a potential downgrade in US government debt instruments if Congress didn't raise the debt ceiling by August 2nd as well as meet all its debt (sovereign and payables) on time... which it's never done. (Know any government contractors?) In what appeared to be abject frustration one Bloomberg reporter stated Republicans would take the bond market's stability to heart... the bond market would have to react in order to get Republicans to move off their position. Are these guys trying to create a default?....

 

Then there was the Geithner / Democrats press conference today. I thought Geithner was suppose to be the Treasury Secretary of the United States, not just the Left. And really... I'm beginning to wonder about the credit rating agencies. Is it possible we need to start questioning their credibility as well? Perhaps we should ask who stands to gain from all of this and how? We had that problem with Cap-and-Trade, remember?

 

Look, Republicans are busy trying to actually solve the debt and deficit problem putting ideas into action and passing legislation. The Democrats, whose only "plan" is in their heads, literally and figuratively, join hands with the liberal media. Together they engage in demagoguery potentially jeopardizing the full faith and credit of the United States.

 

On the Senate floor today, Minority Leader, Mitch McConnell (R-KY) joined his colleagues in the effort to pass a balanced budget amendment announcing his intent to bring the legislation to a vote next week. He asked citizens to call their senators and representatives. You can also contact them by email or phone using the links below. A balanced budget amendment to the Constitution would put limits on congressional spending and require Congress to "live within its means" by passing and balancing a budget annually." Forty-nine of the fifty states have one." It doesn't solve our current debt crisis but it helps ensure we never fall prey to runaway government spending again.

 

Contact: Representatives, Contact: Senators

 

 

 

 

 

 

 

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