Colorado GOPers still tout ‘Cut, Cap, Balance’ despite broken negotiations, unstable market

With the stock market plunging this morning on news of still-stalled debt-ceiling talks between the White House and members of the U.S. House, Colorado’s Republican congressional members continue to lament the Senate rejection of “Cut, Cap and Balance” last week.

U.S. Rep. Cory Gardner, a freshman Republican from Colorado’s 4th District, echoed the sentiments of fellow Colorado Tea Party freshman Scott Tipton, who on Friday blasted the Senate for rejecting the House plan, passed Tuesday by a 234 to 190 margin.

“While the House has once again led the way by proposing solutions to clean up our nation’s fiscal mess, the Senate ducked responsibility to the American people and failed to support this crucial bill,” Gardner said Sunday in his weekly newsletter. “The House has been the only body to pass a plan that solves the debt crisis and avoids any possible default. Mr. President, you threatened to veto our plan, where is your plan?”

But the Obama administration last week quickly wrote off the proposal by GOP-controlled House as “symbolic” at a time when House Speaker John Boehner needed to fully focus on a real deal that will meet with full Senate and White House approval.

Boehner on Friday walked out on talks, drawing the ire of Colorado’s senior congresswoman Diana DeGette. Still, there was hope a deal could be reached over the weekend – one that would include enough spending cuts to please Republicans while also allowing for tax increases for the wealthiest Americans. Failure to reach a deal Sunday led to this morning’s stock market wobble.

“The markets are too volatile and our economy too fragile to continue the sort of gamesmanship that has gotten us to the point where we stand on the verge of irrevocable economic crisis.” DeGette said on Friday.