GOP: 'Surely' Debt Agreement Can Be Struck
July 30, 2011 by UPI - United Press International, Inc.
WASHINGTON, July 30 (UPI) — With the United States on the brink of an unprecedented financial failure, Sen. Jon Kyl, R-Ariz., said Saturday partisanship has to be toned down.
After Tuesday, the country will be in financial limbo and unable to pay some of its debts unless President Barack Obama’s Democrats that control the Senate and the Republicans, who have a House majority, can reach accord on raising the nation’s debt limit.
In the GOP’s weekly media address, Kyl sounded less adamant than other Republicans in recent weeks about the crisis.
“No one will get everything they want, and we can’t solve all of our problems at once, but surely we can reach an agreement that will increase the debt ceiling, impose accountability, and begin reducing the size of our federal government,” the senator said.
Kyl said Republicans remain “united in the belief that raising the debt ceiling without making significant spending reductions would be irresponsible.”
He also gave a fleeting warning to aging citizens about the consequences of a debt default.
“Markets would likely respond, dropping in value and hurting the retirement savings of millions of Americans,” he said.
For his part, President Obama said in his weekend address “the parties are not that far apart” on crafting an economic bill to avoid default.