Contrary to Eric Cantor’s statements in the recent past, Republican House Budget Committee Chairman Paul Ryan of Wisconsin has reiterated his commitment to the Republican Pledge To America by stating that,
“If people think we’re afraid of cutting $100 billion they’ve got another think coming, That’s just a down payment.” (here).
It’s time to let Republicans like Paul Ryan know that we appreciate his honesty and his position is the only
acceptable position given the Republican assurances to the American people last Fall!!
Ryan says that Republicans don’t intend to save States from debt defaults. “We are not interested in a bailout,” Ryan said. Ryan went on to say, “some states are “already telling us” that, when asked how he would respond if he was told one was in danger of defaulting. 
U.S. states face a combined $140 billion in deficits in the next fiscal year, the Washington-based Center on Budget and Policy Priorities said.” (here). Those States facing the gravest financial condition are those whose governments have refused to reign in bloated budgets with Illinois, California, New Jersey and New York. So far only New Jersey seems to be trying to grapple with their budgetary excesses of the past by tackling its spending. Illinois recently announced tax increases rather than spending cuts to address their deficit.At least some of the Republican leadership heard the resounding message of the American People last November. Perhaps Cantor and Boehner should take note! Apparently at least one resident of Washington DC noticed, since Ben Bernanke in light of Ryan’s tenacity axed any direct Federal Reserve role in providing a bail out to the nearly $3 Trillion municipal bond market. “We have no expectation or intention to get involved in state and local finance,” Mr. Bernanke said in testimony before the Senate Budget Committee. The states, he said later, “should not expect loans from the Fed.” (Here).
Let’s hope so.
Tell ’em where you saw it. Http://www.victoriataft.com
