an increase in the debt limit “unless it is the last one we ever authorize and is
accompanied by a plan for fundamental tax reform, an overhaul of our regulatory structure, a cut to discretionary spending, a balanced-budget amendment, and reforms to save Social Security, Medicare and Medicaid.”
Do tell, Marco. Why not amend the requirement that the Sun rise in the east while you're at it, too?
Rubio speaks out after low profile early in Senate
Use Debt Ceiling Vote to Fix Washington's Spending Addiction
Failing to raise the debt ceiling would send shock waves through the bond market and would not be a good thing. On the other hand, raising it won't do much to restore confidence in the nation's economic future either. It places Congress and the president squarely in between the proverbial rock and a hard place. There really is no good option.
There are some steps that Congress could take and President Obama could approve that may ameliorate such a crisis in the future. One is to attach to the debt ceiling a measure that would end the process of continuing resolutions to fund the government forever. Rather than give Congress the option or even the ability to fund the government through such measures should the various authorization and appropriations bills not be in place by the October 1 beginning of the fiscal year, the funding mechanisms should be placed on autopilot, but at a rate slightly reduced from the previous year.
APPLAUSE!!! (Because that isn't the idiot Rubio talking)
No comments:
Post a Comment