Fiscal Responsibility

Ornstein: Republican Debt Limit Threat "Beyond Disturbing"

Here we go again. Norm Ornstein’s op-ed in Roll Call today slams Speaker Boehner’s threat to hold the debt limit hostage once again, calling it a sign of fiscal irresponsibility that will lead us right back to the shutdown threat and S&P downgrade from last year.

Some choice quotes below:

“And more than anything else, there is the new threat to America’s credit rating raised by Speaker John Boehner (R-Ohio), a sign of recklessness that is beyond disturbing. “

“The use of the debt limit as leverage … was unprecedented and went way beyond the game-playing and hypocrisy that has usually accompanied debt limit votes. Especially at a time of a weak economy, it threatened the economic well-being of the country, not to mention the full faith and credit of the U.S. government.”

By refusing in that budget and in every other action to put any tax increases on the table, despite the fact that Simpson-Bowles, Rivlin-Domenici, the Senate ‘gang of six’ and every other bipartisan group looking at the problem say it cannot be solved or seriously reduced in the short or medium term without sizable new revenues, Boehner is showing that his pleas for fiscal discipline are hollow.”

“We no longer have an adult Speaker but a petulant one, apparently deciding that the way to lead his forces is to lead them in irresponsibility. The U.S. credit rating, credibility and economic health are going to be held hostage.”

What will it take for Republicans to learn from their mistakes?