Saturday, December 1, 2012

Sen. John Cornyn (R-Texas) on Obama's plan to raise the debt ceiling to infinity: “Well, it’s outrageous,”

Apparently, Obama and democrats think they can run the country without a budget. The Senate and roadblock Harry has refused to pass a budget for over three years. The only restraint on Obama's big spending ways has been the debt ceiling.

Via The Hill:
Sen. John Cornyn (R-Texas), who will soon be the second-ranking Republican in the Senate, on Friday panned a proposal by the White House that would allow President Obama to raise the debt ceiling without congressional approval.
Cornyn was referring to a plan Treasury Secretary Tim Geithner presented to Speaker John Boehner (R-Ohio) on Thursday that was meant to avoid the “fiscal cliff” of tax increases and spending cuts.
The plan, which sparked strong Republican criticism, included a provision allowing the White House to raise the debt ceiling without the consent of Congress.
“Well, it’s outrageous,” Cornyn said on Fox News.
“It’s like saying we maxed out our credit card so I’m going to get a new credit card with no limit so I can keep spending. There needs to be some accountability here and, so far, we’re spending 42 cents out of every dollar in Washington and that’s borrowed money. And that’s money that our kids and grandkids are gonna have to pay back.”
“It’s profoundly irresponsible,” Cornyn said. “So that’s a crazy idea and I’m amazed that Secretary Geithner had the courage to float that yesterday.”

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