Ed Markey: “I thank the gentlelady. The Republican Party deficit plan is very simple: Number one, send the financial markets into a…”

“I thank the gentlelady. The Republican Party deficit plan is very simple: Number one, send the financial markets into a nose dive. Number two, drive up costs for home mortgages, student loans, and credit cards. Number three, spook businesses to stall job growth, bringing the Nation to the brink of economic collapse. Number four, repeat it all again and again until election day 2012. The Republicans don't want compromise; they want capitulation. The Republicans have brought to the floor a constitutional amendment to balance the budget that's going nowhere. It is phony. But there's another sinister constitutional amendment being debated here, it's very real; and it will cause our country to default on its obligations. Amendment 14, section 4, of the Constitution says: ``The validity of the public debt shall not be questioned.'' But this bill would change the Constitution forever--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 the Republican bill: ``The validity of the public debt shall be questioned.'' That is what they are doing this weekend. This is unacceptable and would have a disastrous effect upon 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.…”