Thursday, January 27, 2011

Kudos to Senators Cornyn and Hatch: Propose Amendment Tying Spending Cap and Balanced Budget to Lifting Debt Ceiling

I'm warning you right now to prepare yourself for the propaganda. Legacy media will do anything -- anything -- to promote the notion that a failure to meekly raise the debt ceiling would result in utter disaster. Human sacrifice, dogs and cats living together... mass hysteria! Hell, based on the track record, some CBS anchor could very well go out and cap some homeless person if that would help sway public opinion.

So I have to extend my congratulations to Senators Orrin Hatch and John Cornyn -- both of whom I've leveled plenty of criticism at in the past -- for their negotiation tactics.

Sens. Orrin Hatch (R., Utah) and John Cornyn (R., Texas) are pushing for a balanced-budget amendment as part of any negotiations to raise the federal debt ceiling... Their proposal has gained support within the Republican caucus, but Senate Democrats have not yet signaled they would include it in any package that raises the debt ceiling above the $14.3 trillion level set by Congress last year. The Obama administration has said the U.S. could hit the $14.3 trillion debt level as soon as March 31, and they are pushing Congress to raise the limit soon. As of Friday, federal debt subject to the limit stood at $14.008 trillion.

The Hatch/Cornyn plan would, among other things, mandate total budgetary outlays for any fiscal year not exceed revenues; cap federal spending at 20% of GDP; [and] prohibit revenue raising moves that aren’t approved by two-thirds of the House and Senate. ... The House and Senate would have to sign off on any exemptions, with a two-thirds vote. Provisions could also be waived if there is a formal declaration of war or because of national security concerns.

Call your representatives and tell them you support this measure: No more blank checks.

This. Is. Sparta!

Hat tip: Mark Levin.

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