July 29, 2011: Markey: Republicans Want Capitulation Not Compromise on Debt Ceiling

Markey opposes GOP debt bill that alters U.S. Constitution forever

WASHINGTON, D.C. – Congressman Edward J. Markey (D-Mass.) released the following statement after voting in opposition to the Republican debt plan, S. 627, The Budget Control Act of 2011.
“The Republican Party’s deficit plan is simple: Send financial markets into a nosedive; drive up costs for home mortgages, student loans, and credit cards; spook businesses, bringing the nation to the brink of economic collapse; and repeat it all again and again until election day 2012. Under this Republican bill, our country would be pushed into defaulting on our obligations purely for partisan political purposes.
“Despite professing a deep love of the Constitution, the Republican Party is casually and cavalierly trying to amend the 14th Amendment, turning it from a guarantee into a question mark. Under this Republican bill, ‘The validity of the public debt…SHALL be questioned.’
“The only way to end this budget impasse is to resolve another massive deficit – the leadership deficit in the Republican Party.
“Americans want Congress to come together and address our deficit with a plan of responsible spending cuts and new revenues that doesn't sacrifice Medicare, Medicaid and Social Security. Time is running out. The Republican Party needs to put aside ideology, stop the political maneuvering, and work for a compromise so we can move forward to strengthen our economy and create jobs.”
Earlier today, Rep. Markey spoke on the House floor in opposition to the Republican debt plan. Video of his remarks can be found HERE.