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Fifteen years ago, House Minority Leader Steny Hoyer pontificated about how the nation’s then $5 trillion debt threatened his daughter’s well-being and that of his grandkids at a Jan. 1995 press conference defending the balanced-budget amendment.
But now as the national debt passes a then-unimaginable $15 trillion, Hoyer and the Democrats have entered into silly season by opposing any sort of balanced-budget amendment. Instead of taking the situation seriously, they continue to advocate for uncontrolled reckless spending.
And the GOP isn’t far behind them because House leaders like Speaker John Boehner have caved going back to their pledge to cut $100 billion from the federal budget. But CBO found they only ended up cutting out a meager $353 million in last spring’s budget deal.
House Budget Committee Chairman Paul Ryan has stood alone among the Republican leadership as a voice crying in the wilderness about the need to take this debt explosion seriously.
Mr. Ryan stated the following last night in a press release:
“Instead of advancing credible solutions, the president remains committed to more borrowing, more spending, and more taxes. When it comes to making the tough decisions necessary to deal with our debt, the President is deferring to one commission after another, only to ignore the recommendations of these commissions. And his party’s leaders in the United States Senate? Well, it has been over 930 days since they passed a budget.
I think the reason is pretty simple: the president and his party’s leaders remain unwilling to publicly commit to the kinds of tax increases that their spending appetite requires.
“You deserve a lot better than that. You deserve a credible plan. You deserve leaders willing to tackle this problem, willing to advance solutions that would lift this crushing burden of debt and make possible a growing, prosperous economy.
That is exactly what we here in the House of Representatives have done, and we will continue to advance serious solutions that match the magnitude of our greatest challenges.”
Sure things are hard when the GOP controls 1/3 of the 1/3 of the federal government, but the party has done a terrible job in the public-relations war let alone in holding the line with Obama.
And instead of Republicans forcing the Democrats to compromise, The Hill greeted readers with the headline: “Hensarling says GOP willing to consider Dem tax proposals.”
The Republican co-chairman of the deficit-reduction Supercommittee on Wednesday indicated he and his party were willing to listen to proposals from Democrats to consider higher taxes to reduce the deficit.
Rep. Jeb Hensarling (R-Texas) walked back a statement he made Tuesday on television, when he said Republicans “have gone as far as we feel we can go” by offering to raise $250 billion in new tax revenues.
The GOP won the House last year on the promise that it would end business as usual, but Republicans have failed to deliver during the negotiation process.
The Democrats need to stop for a second and see the results of their failed fiscal policies as RSC Chairman Jim Jordan observes:
“The national debt is nearly equal in size to our entire economy and growing larger every single day. Unless we make the fundamental changes needed to stop the out-of-control spending, you can look at Greece and Italy to see where this road ends.”
And presidential candidate Herman Cain's campaign chimed in with comments to ConservativeHome USA saying:
"Our national debt has exceeded $15 trillion – including a $4 trillion spending-binge during the Obama presidency. Obama’s failed leadership and flawed Keynesian economic philosophy has driven the American economy not into the proverbial ditch but off the cliff. In order to renew America’s economic prospects we need bold solutions and a leader with a proven record of turning around dysfunctional business enterprises.
“President Obama’s disastrous economic policies are not only an economic travesty, they are immoral. We cannot leave our children and grandchildren with this enormous burden. We must take responsibility for our actions."