July 29, 2011: Markey: GOP debt bill would change U.S. Constitution forever
Congressman Ed Markey
Statement on the floor of the U.S. House of Representatives
H.Res. 383 Second Rule providing for consideration of
S. 627 Budget Control Act 2011
July 28, 2011
The Republican Party’s deficit plan is very simple:
1. Send the financial markets into a nosedive
2. Drive up costs for home mortgages, student loans, and credit cards
3. Spook businesses to stall job growth, bringing the nation to the brink of economic collapse.
4. Repeat it all again and again until election day 2012.
The Republicans don’t want compromise, they want capitulation.
Despite professing a deep love of the Constitution, the Republican Party is
casually and cavalierly trying to amend it.
Amendment 14, Section 4 of the Constitution says that “The validity of the public debt…shall not be questioned.”
But this bill would change the Constitution forever.
Under this Republican bill, our country would be pushed into defaulting on our obligations.
The Republican Party would turn the 14th Amendment from a guarantee into a question mark:
NOW, under this Republican bill, “The validity of the public debt…SHALL be questioned.”
This is unacceptable and would have a disastrous effect on our economy and the Middle Class.
The only way to end this historic nightmare is to resolve another massive deficit – the leadership deficit in the Republican Party.
Vote down this reckless Republican bill.