The morbid cynicism at the heart of this op-ed from Sen. John Cornyn is precisely what poisons our political climate with unfounded fears and durable ignorance:
It may be necessary to partially shut down the government in order to secure the long-term fiscal well being of our country, rather than plod along the path of Greece, Italy and Spain. President Obama needs to take note of this reality and put forward a plan to avoid it immediately.
For starters, the U.S. economy is exactly three gazillion times the size of Greece's, and Italy and Spain are suffering inordinately at the moment because of pre-Keynesian austerity measures--not past, unrestrained fiscal extravagances--such as some European John Cornyn would advise. Second, we have our own currency, whose devaluation can boost our exports, and hence our economy--and they don't. Third, the U.S. treasury is the most valued safe-deposit box there is for the world's investors, which renders our borrowing, stimulative costs nil (assuming we're smart enough to spend). Fourth, which loops back to starters, Sen. Cornyn and his Hayekian Mortimer Snerd compatriots wouldn't know modern economics if it bit them in the ass--a hypothesis provable by the fact that the economy has done just that, and yet Cornyn & Co. budges not from its Gilded Age pieties.
Finally, President Obama did "take note" of reality nearly a year-and-a-half ago and "put forward a plan" called the American Jobs Act, which Sen. Cornyn promptly helped smother in its cradle.