RepublicanLeader
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7/29/2011
H/T The Blaze, where Meredith Jessup writes, “Boom. Winning.”
CAJ note: Our readers know there has not been even so much as a budget proposal from the Democratic Senate in 821 days. In May the Senate voted down the President’s only contribution to the debate by a vote of 97-0. This month Speaker Boehner’s House has submitted two plans to the Senate, and last weekend Senator Reid and Speaker Boehner worked on a bi-partisan plan that the President promptly killed. Congressman Ryan has offered a plan. Congressman Ron Paul has offered a plan. Senator Rand Paul and Congressman Connie Mack have offered the “Penny Plan.”
This morning at Big Government Seton Motley wrote:
…The House has done its work. Twice – CCB and the Paul Ryan plan. It should not spend one more second contorting the arms of their own to try to pass a third, tepid alternative to the two fine plans they have already put forward.
In a sane, good world, the House leadership would first thing this morning issue the following statement. Then adjourn and go home…
Related: Video: Economist says budget plans’ growth forecasts “laughable”
July 29 – Plans to resolve the U.S. budget and the debt ceiling standoff are ”astounding” in their presumptions of consistent GDP growth, co-founder and Chief Operations Officer of ECRI Lakshman Achuthan says.
Yesterday Peter Schiff talked about the debt ceiling vs lending ceiling and why default may be inevitable unless we make draconian cuts to all government programs.
Update: An editorial at The Daily Caller, Sophie’s choice? We choose survival
The current meltdown on Capitol Hill comes as no surprise to anyone who’s been paying attention for the last 30 years. It’s been obvious for decades that at some point the U.S. government would be unable to make good on the promises it has made to its citizens. There isn’t enough money in the country to pay for it all.
Everyone knew it, but everyone also knew that Washington would continue to ignore the obvious until adults stepped in. Once America’s bondholders revolted, the assumption went, we would get spending under control, just as various European welfare states have in recent years. In politics, reform never comes before crisis.
Now that crisis has come. Two weeks ago, the ratings agency Standard & Poors announced that unless the United States reduces its debt load by at least $4 trillion over the next decade, the country’s credit rating will be downgraded. America’s AAA rating is a cornerstone of our security…
…Washington’s response? A great bipartisan averting of the eyes…
…A downgrade will mean the U.S. government pays more in interest on its debt. It will also mean that every American will pay more for loans. Cars, mortgages, bank lending — all will be more costly…
