Reminder: Reckless Jon Bruning Endorsed Default
OMAHA - As Nebraskans watch stock market turbulence, they would do well to remember Jon Bruning's history of irresponsible and reckless comments about how to handle the economy, including his statements suggesting the nation default on its debt. "Nebraskans have a choice between a candidate in Ben Nelson who will protect Social Security and Medicare during a time of economic uncertainty, and one in Jon Bruning who recklessly plays games with the economy for the sake of political purity," said Brandon Lorenz, spokesman of the Nebraska Democratic Party. In the last month Bruning has lurched from idea to irresponsible idea, most recently promoting default, a position echoed by many Tea Party extremists. Just one week ago Bruning told a Nebraska TV station:
"It may be something that has to happen to make the fundamental changes that are necessary in the American governmental system. We have to shrink it. And, if the Democratic Party that controls the White House and the Senate doesn't understand it, default may be necessary." (KHASTV, 7/29/11)
Bruning's support for default has been echoed by Amy Kremer, executive director of the Tea Party Express, which made its first endorsement of 2012 by endorsing Jon Bruning. In 2010, the group endorsed Senate Candidates Sharron Angle and Christine O'Donnell during competitive primaries. Both went on to lose in the general election.
"Our message has not only been no, but hell no" to raising the debt limit, Kremer told ABC News. (ABC News, "Debt Ceiling Debate Heats Up, Tea Party Says 'Hell No' to Raising Limit" 5/16/11)
Prior to endorsing default Bruning told a radio host on KMCX that unpaid interns could be hired in certain agencies to reduce costs. On the show, Bruning railed against the Consumer Financial Protection Bureau, which is intended to ensure Wall Street no longer runs over consumers by regulating credit cards and mortgages:
"When Grandma Smith from here in town calls Lincoln and says, 'I just got scammed over the phone," we handle it with a college intern," Bruning told the radio station.
A stunned radio host pushed back on Bruning:
"While I agree, like I said, with maybe the overreach of scope of some ofthese agencies, uh, I don't foresee a world where we can just say, youknow, the market can regulate itself, or, uh, business can watch itselfand play nice and if somebody calls and says we've got a problem we'llsend a college intern to investigate it. I think Wall Street needs morethan college interns."
Several studies, including a survey of economists from the Council on Foreign Relations show that default would shock the economy and lead to increased costs such as higher costs for consumers on their mortgages and credit cards.