Majority Leader Cantor made his thoughts clear this morning on the president’s game of chicken with the American economy:
More below from Cantor’s press release:
“At this point, we have three options. One is to wait and do nothing and go past August 2nd and bring on possible default, which I am not for, nor is the Speaker, or any of us standing up here. Another is to go with Harry Reid’s plan which is, as the Speaker said, a blank check – something that Republicans don’t believe most Americans think ought to happen because it lets spending continue in this town the way it has, and it helps promote the economic policies of the Obama Administration that have frankly wrecked this economy.
“Thirdly, we have our option on the table that is consistent with our commitment to change the system here, stop spending money we don’t have, and start focusing on getting people back to work in this country and do something about the unemployment that is now still over 9 percent.”
Meanwhile, opposition on the right seems to be is building against the Boehner plan:
I honestly cannot tell you how disgusted I am with the House Republicans today.
They will yet again pass off their responsibility to a committee that will do nothing. We know it will do nothing because we have had 17 of these committees come before this one and the debt has gone up from $1 trillion to $14 trillion.
Boehner’s plan, despite what you are hearing, does not prevent this committee from raising taxes. In fact, it contemplates that the committee might raise taxes.
And we will lose our credit rating. The loss of our credit rating will be more economically devastating that a technical default.
Gotta agree with Erickson on this, folks. Cut, Cap, and Balance was the moderate position. If we cave on this, we’re starting on the sorry downhill economic trend that collapsed so many nations before us.
