UPDATE: Reader Gary Tranbarger emails: “I have a new idea. Republicans immediately pass a clean, no conditions, debt ceiling addition of 100 billion dollars. They also announce their willingness to vote for additional 100 billion dollars additions, as needed, one at a time, up to November 2012. Finally, they announce their willingness to engage in negotiations for a two-year addition to the debt ceiling once the CBO scores a 10-year financial plan for the country that is publicly endorsed by (a) the President; (b) a majority of Senate Democrats; and (c) a majority of House Democrats.”I like it, although I would go for $250 Billion. That would be about five votes between now and the new Congress.
It is all about the debt ceiling, isn't it?
Regards — Cliff
It is about power, and the debt ceiling is just the pawn. It is about a viciousness in politics that has not been seen in some time, perhaps in some respects, ever. In many ways, this "crisis" is reminiscent of the thirties when FDR launched his Presidential career and went about recasting reality and ramrodding his socialist agenda through the Congress, only to find most of it found unconstitutional by the SCOTUS. Interestingly, as an aside, as with the current POTUS, many if not the majority of the first term FDR policies were taken almost whole from Herbert Hoover, relabeled, and trotted out as "the cure." In fact, FDR's efforts worsened an already dire situation, many of his programs taking on hues of dictatorial rule with a resulting societal backlash.
ReplyDeleteImportantly today, the "crisis" over the debt limit is two things. First, it is a red herring. The real issue is reducing spending and thus reducing the size of the Federal monster, pushing authority back to the states where it largely belongs. Secondly, and perhaps of even greater importance, the argument about the debt limit is an ugly inescapable wart on the Obama reelection campaign, reminding everyone how truly fouled up the country continues to be....we are loosing jobs....our manufacturing capability is in the toilet.....our housing market is on life support......even WITH the vaunted Obamacare coming on, the GAO and the CBO project a significant growth in the costs of medical care......all things that become huge negatives when one claims to be the savior of a nation's future.
This is the ONLY reason that Obama, et al want a "clean bill" to increase the debt to 2013...so that it doesn't become or continue to be a campaign issue.
Anyone who believes differently is, IMHO not facing reality.
How many nations on this earth have owed the US money? Owed us money for decades? And still haven't even paid the interest on the debt? And did we go break their kneecaps? And has any country gone to a debtor country and broken their kneecaps?
The sun will rise, the winds will blow (especially hot out of the immediate DC area), and people will continue to live as they always have lived (which is part of the problem BTW). After all..the earth isn't scheduled to self destruct until 2012.....my guess would be in November