Tags: US | Cornyn | Budget

Cornyn: Using 14th Amendment for Debt Deal 'Crazy'

Sunday, 03 Jul 2011 10:53 AM

WASHINGTON — Republican Sen. John says the possibility of invoking the 14th Amendment to resolve the stalemate over the debt limit is plain "crazy," Politico reports.

The amendment states that federal debts "shall not be questioned," and some Democrats have argued that that gives President Barack Obama leeway to pay America's debt even if the debt limit is not raised by Congress.

Not so, says the Texas Republican, who appeared on "Fox News Sunday."

"It is not acceptable for Congress and the president not to do their job and say basically the president has the authority to do this by himself," Cornyn said.

Cornyn also says it would be irresponsible for President Barack Obama to present a last-minute proposal in the budget debate, The Associated Press reports.

He says time is running out for the president and the Republican leadership in Congress to negotiate a deal with an Aug. 2 deadline looming to raise the government borrowing limit.

Cornyn lowered expectations on his previously stated willingness to consider closing tax loopholes.

The senator says there isn't enough time between now and the Aug. 2 deadline to reach a comprehensive agreement on tax reform that would lower rates and close tax loopholes. He made clear that it's an issue that must be left for later.


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WASHINGTON Republican Sen. John says the possibility of invoking the 14th Amendment to resolve the stalemate over the debt limit is plain crazy, Politico reports. The amendment states that federal debts shall not be questioned, and some Democrats have argued that...
US,Cornyn,Budget
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2011-53-03
 

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