July 29, 2011

Default Harry
Harry Reid And The Default Democrats To America: Go Ahead, Make My Day.
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REID AND THE DEFAULT DEMOCRATS REJECT SECOND BILL TO ADDRESS DEBT CRISIS
Default Democrats In the Senate Voted Against Cutting Spending. Default Democrats Have Already Rejected Cutting Spending To Address Debt Once, Voting To Kill Cut, Cap, And Balance Last Week. The Senate voted 51-46, along strict party-lines, on Friday to kill the House Republicans' cut, cap and balance legislation. The measure would have cut spending by $111 billion in 2012, capped spending over the next decade and prohibited more borrowing until Congress had passed a balanced-budget amendment to the Constitution. (Josiah Ryan, Senate Votes To Kill House GOP's 'Cut, Cap And Balance' Budget
Measure, The Hill, 7/22/11)

REID AND DEFAULT DEMOCRATS REFUSED TO ADDRESS DEBT CEILING IN MAJORITY

With Control Of Both Chambers, Reid And Default Democrats Could Have Addressed Debt Ceiling But Refused. Reid also said that he would like to push off raising the debt ceiling until next year when Republicans control the House, but that he has not discussed the matter yet with his caucus. Let the Republicans have some buy-in on the debt. Theyre going to have a majority in the House, said Reid. I dont think it should be when we have a heavily Democratic Senate, heavily Democratic House and a Democratic president. (Shira Toeplitz, Reid: Tax Vote Coming In 'Day Or Two', Politico, 12/8/10)

Reuters Felix Salmon: Forcing a majority-Republican House to vote to raise the debt ceiling might have seemed like a good idea at the time. But its not exactly the epitome of leadership. Indeed, it seems to have led the country straight into something which risks being downright catastrophic.
(Felix Salmon, How Harry Reid Caused The Debt-Ceiling Debacle, Reuters Felix Salmon, 7/26/11)

REID AND DEFAULT DEMOCRATS HAVE REFUSED TO PASS A BUDGET

Senate Democrats Have Not Passed A Budget For 821 Days, Since April 29, 2009. (S. Con. Res. 13, Roll Call 173; D
53-3, R 0-40, I 2-0; 4/29/09)

DEFAULT DEMOCRATS ARE TURNING THEIR WARNINGS INTO REALITY

President Obama: If the United States government, for the first time, cannot pay its bills, if it defaults, then the consequences for the U.S. economy will be significant and unpredictable. And that is not a good thing.
(President Barack Obama, News Conference, 6/29/11)

Obama: Defaulting On Our Obligations Is A Reckless And Irresponsible Outcome To This

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Debate. OBAMA: If that happens, and we default, we would not have enough money to pay all of our bills - bills that include monthly Social Security checks, veterans' benefits, and the government contracts we've signed with thousands of businesses. For the first time in history, our country's AAA credit rating would be downgraded, leaving investors around the world to wonder whether the United States is still a good bet. Interest rates would skyrocket on credit cards, on mortgages and on car loans, which amounts to a huge tax hike on the American people. We would risk sparking a deep economic crisis - this one caused almost entirely by Washington. So defaulting on our obligations is a reckless and irresponsible outcome to this debate. And Republican leaders say that they agree we must avoid default. (President Barack Obama, Address To The Nation On The Federal Debt Ceiling, 7/25/11) Sen. Harry Reid (D-NV): Default Will Rock Our Financial System To Its Core. Default will rock our financial system to its core, Senate Majority Leader Harry Reid, D-Nev., said at the start of the Senate session. (Andrew Taylor, House GOP Set To Vote On Revamped Debt-Limit Bill, The Associated Press, 7/28/11) Sen. Charles Schumer (D-NY): At A Time When The Economy Is Still In Rough Shape, The Consequences Of Government Default Would Be Catastrophic. At a time when the economy is still in rough shape, the consequences of government default would be catastrophic, Schumer said. Money that could pay for college tuition, a car payment or a vacation would be down the drain paying for higher interest rates. (Bob Recotta, Schumer Says Government Default Would Have Catastrophic Effect, The Leader [Corning, NY], 7/21/11) Rep. Nancy Pelosi (D-CA): We Must Come Together For An Agreement Because Our Economy And Middle Class Will Suffer From A Default. (Press Release, Pelosi Statement On Proposals To Reduce The Deficit, Avoid Default, 7/25/11)

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