Texas GOP Senator Cornyn published an op-ed in The Houston Chronicle today, the first Republican to speak out against Democrat intransigence over reforming entitlements. In a story published at MarketWatch, he is quoted as saying what everybody is thinking…
“The coming deadlines will be the next flashpoints in our ongoing fight to bring fiscal sanity to Washington,” wrote Cornyn, who sits on the Senate Finance Committee.
At issue are (1) the $100 billion sequestration cuts that have been delayed for two months, (2) the nation’s $16.4 trillion debt limit, which we officially passed on December 30th but which the Treasury Department is avoiding by some gangster accounting tricks of keeping two sets of books, and (3) the rating agencies scrutiny over our bond rating.
Standard and Poors issued a warning today that they need to see some medium- and long-term solutions to the nation’s debt problems if the U.S. is to keep our AA1 rating. A downgrade in our rating will make it more expensive for us to borrow money in the future.
Senator Cornyn wrote, “It may be necessary to partially shut down the government in order to secure the long-term fiscal well being of our country, rather than plod along the path of Greece, Italy and Spain. President Obama needs to take note of this reality and put forward a plan to avoid it immediately.”
Tell me you haven’t heard this before a hundred times.
Tell me you think this time will be different.
I’ll tell you, “You’re a bloody fool.”
