Dear President Obama,
We understand the difficulties you face in reaching a debt limit agreement. Extremists have taken over the Republican Party in Congress. To get their way, they're willing to risk the United States defaulting on its debts for the first time in history. This GOP-manufactured debt crisis threatens a rejuvenated recession, hundreds of thousands of lost jobs, and higher interest rates. You don't want that. We don't want that.
Mr. President, we want you to know that if a reasonable compromise cannot be reached with Congressional Republicans, we have your back if you choose to use your constitutional authority under the 14th Amendment to avoid economic catastrophe.
The 14th Amendment of the U.S. Constitution clearly states that the validity of the public debt of the United States "shall not be questioned." Let's stop questioning it.
When we play chicken with radicals willing to drive the economy off the cliff, the entire country loses. That's the lesson we're now learning.
When the situation has stabilized, we can focus on the real issues -- job creation in the immediate term and deficit reduction over the next decade. There is plenty of time for bipartisan debate on these important issues of the day, but we are running out of time to stop an easily preventable financial disaster.
Thank you for your leadership.
Sincerely,
John Garamendi
John Garamendi
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