This was Senator John Cornyn (R-TX) in December, extolling the fiscal responsibility of the states in comparison to the federal government:
"A balanced budget amendment is a good idea, but certainly not a new one. All but one of the 50 states already have some form of a balanced budget amendment in their state constitutions, and we can draw from the experience of the states in drafting an amendment appropriate for the federal government."
-- Senator John Cornyn, December 1, 2010
This was Senator Cornyn this week, explaining what he thinks is needed to rescue those same states:
"Senate Republican leaders said on Tuesday they were considering introducing legislation to allow financially stressed U.S. states to declare bankruptcy ... 'We're exploring that as a responsible option,' Senator John Cornyn, who sits on both the Budget and Finance committees, told reporters."
-- Reuters
After the jump, tying Cornyn's ideas together.