Monday, July 18, 2011

McConnell’s Plan B – B Stands for Bad

Republican Senator Mitch McConnell’s debt ceiling contingency plan is bad for America. At its core, it is born of political cowardice. Since consensus is difficult, McConnell seeks to surrender authority to the President and allow him to unilaterally raise the debt ceiling by over $2 trillion. McConnell no doubt believes this will place all debt ceiling blame on the President and absolve him and other members of Congress.

Senator McConnell, the American people did not elect a new crop of Congressmen and Senators to surrender. They were sent there to fight. This bill is a gutless abandonment of American principles and your Constitutional duty.

The credit rating agencies, invoked incessantly during this debate, have stated time and again that we risk default and lower credit ratings because of “very large budget deficits” and “rising government indebtedness” and because “the path to addressing these is not clear to us (S&P)” It is not merely because we haven’t increased our debt ceiling. In fact, since the McConnell plan does nothing to change unbridled government spending and increases our debt, it will make the likelihood of a credit rating downgrade even more likely than not passing a debt ceiling increase at all.

Our members of Congress should focus on what is good for the country, not what is politically expedient. If that means telling leadership in either the House or the Senate to get bent, so be it. This is the singular defining moment where each member will be defined. They will be defined as either an individual that helped put the country on the path to fiscal solvency or, they can be gutless cowards that refuse to make the tough decisions and instead, abdicate their authority to the President.

History will remember this decision.

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