On the recordFebruary 12, 2014
it is encouraging that some of my Republican colleagues seem to be regaining their grip on sanity this week. Republicans have shown a willingness to compromise to restore veterans' hard- earned pensions. A few reasonable Republicans were willing to join Democrats to avert a catastrophic default on our Nation's obligations-- a default that would have thrown our economy into a tailspin and damaged this Nation's standing in the world. I commend Speaker Boehner for doing the right thing. He voted for this, and he had enough Republican votes to get it done. I have said often that he has a difficult job--if not the most difficult, certainly one of the most difficult jobs in Washington, especially when we look at the caucus he has to deal with. I am pleased he has come to the realization that the full faith and credit of this country is not a hostage to be held for political gain. Unfortunately, Republicans on this side of the Capitol are forcing us to jump through procedural hoops to alleviate the threat of a default. I can't imagine that they are doing that, but they are. Every reputable economist acknowledges that defaulting on our bills would devastate the economy and waste the past 5 years of recovery. The recovery is good, but it is not great. We can do a lot better. According to a report by the nonpartisan Peterson Institute, when Republicans forced us to the brink of default 2 years ago, it cost our economy $150 billion in productivity and 750,000 jobs.…





