If you listen to the far right, the looming downgrade to the US bond rating is basically nothing. If you listen to the left, the end is near. There are several problems with this scenario, including one that is NOT being mentioned on this side of the pond – the billion pound elephant in the room: Rupert Murdock.
While there is absolutely no evidence linking Murdock’s empire with the same allegations that are plaguing him in the UK, there are some indications that there may have been allegedly hacking into the phones of the families of 9/11 victims.
That is not what this Stupid GOP Moment is all about. It is interesting how Murdock’s empire, from the WSJ, FOX, to the Weekly Standard is playing this. One of the reasons we are now in this mess is because of the fact that FOX created the tea parties.
If there was any shadow of a doubt that FOX was not directly responsible for the creation of the tea parties – to meddle in this country’s politics – the indications of Murdock’s meddling in the UK should make us shudder. If there were no tea parties, where would we be today?
There are grown ups in the room. John McCain is one of them.
This is NOT about standing firm against spending, raising or lowering the debt ceiling, but the fact that the GOP will, once again, allow themselves to be backed into a corner and come out the loser.
“…McCain has little patience for such posturing. He tells me that political disagreement with the president — any president — should not jeopardize the credit rating of the United States.
“What some of my colleagues on the Republican side don’t understand is that sometime before August 2, the markets would start reacting in a negative fashion,” McCain says. “Sure, we might be able to divert funds from one pot to another to keep things going, but that’s not what the president is going to do.”
“It seems to some of us that the president, all along, was sort of playing rope-a-dope,” McCain says. “Not surprisingly, he has ratcheted up the level of tension by saying that he couldn’t guarantee people’s Social Security checks. So of course, the calls have been coming into my office; people are worried. They should be worried when the president of the United States makes a statement like that.”
Ron Paul is NOT.
“…It’s exactly this kind of out-of-control irresponsibility that led to the Tea Party revolt in 2010. Unfortunately, while there are occasionally rays of hope, little has changed in Washington, D.C. since.
Now I’m afraid it’s the Tea Party — and all other Americans who are concerned about fiscal irresponsibility — that will get sold down the river should the Republican congressional leadership be foolish enough to strike a “deal” with President Obama….’
“…There’s still time for a deal, but it could come after the Aug. 2 deadline, and after much damage has been done to America’s financial standing. Then the key political question will become who gets the blame. By then, it should be obvious that the man who promised to transcend petty politics and legislative gridlock made things worse.
Washington is dysfunctional. And to paraphrase the president’s senior adviser, David Plouffe, Mr. Obama owns the dysfunction. The president has not only governed as a liberal—he’s governed as an incompetent liberal, thereby reminding voters that electing a Republican Congress and president next year is the only way to change direction….”
The poor delusional Republicans, aided by the libertarian Tea Parties think they are holding a winning hand with the debt ceiling war of the spoiled brats. Nothing could be farther from the truth.
“…However, at the moment, Obama has a narrow lead over Republicans in trust on the economy, 45/38. The bullet points show a serious vulnerability for Republicans in staring down Obama to the point where market disruptions from debt-ceiling paralysis occurs, assuming such disruptions do occur. At least in this poll — and Quinnipiac has generally been a reliable, independent pollster — standing on the no-new-revenues pledge might end up with the GOP taking ownership of whatever follows….”
Perhaps the most fascinating commentary comes from Al Hoffman, Jr. a Bush Republican. He hoists the far right on their own AFI petard – beautifully – and basically echoes everything Lindsey is saying.
“…Instead, they should counter the president’s smallness by going big. Rather than go to their martyrdom as ideological purists, they should open the door to tax increases — but only if every $1 in new taxes is applied to deficit reduction and is matched by at least $4 in real spending cuts, including entitlement reform.
Why the 4-to-1 ratio? Precedent: in a study of fiscal reforms by 21 developed countries between 1970 and 2007, the American Enterprise Institute, a conservative research group, found that, on average, “failed attempts to close budget gaps relied 53 percent on tax increases and 47 percent on spending cuts.”
Successful formulas, on the other hand, combined 85 percent in spending cuts with 15 percent in tax hikes. The president has proposed a much lower ratio, closer to 60 percent in spending cuts and 40 percent in tax hikes, but at least the two sides would be on the same page.
Moreover, tax revenues do not need to come through higher, growth-deterring tax rates. The president’s bipartisan debt commission has already developed proposals to reduce or scrap tax breaks in a way that would both lower tax rates and generate $1 trillion in revenues over 10 years. Under one scenario, all tax breaks would be zeroed out except the child tax credit and the earned-income tax credit; meanwhile, three new, lower income tax rates of 9 percent, 15 percent and 24 percent would be established….”
Why is it, over and over again, year after year, when working with some members of the GOP – and the public perception of them, it is always an ‘I’m With Stupid Moment’?
NORMAL people learn from their mistakes – or at least wise ones do.
Do we repeat the mistakes of the past and let the Dems make us look like monsters, and the social security thing is already working, trust me, or do we fight?
Can’t we approach this like Democrats and beat them at their own PR game?
Of course not!
This is NOT about helping the nation. It is about promoting the Dems, screwing the GOP Congress, and getting Obama re-elected. They will do it any way that is necessary, no matter who they hurt. It is about grand-standing and posturing for the press.
“…Here’s something to keep an eye on: Whether Dems can successfully use the battle over the debt ceiling to drive a wedge between the GOP’s leading business supporters, who understand that not raising it would be catastrophic, and the Tea Party base, which wants to use the debt ceiling fight to force more spending cuts.
Dems think they’ve found an opening: A new report claiming that Wall Street executives are unhappy with House Speaker John Boehner’s brinkmanship with the debt ceiling and the impact it could have on the economy.
… At least one executive responded by warning Boehner that allowing the debt ceiling deadline to get too close could be very damaging, Politico reports…..Executives like J.P. Morgan chief executive Jamie Dimon are worried that playing chicken with the debt ceiling could be “catastrophic.” Dems are hoping to use the debt ceiling showdown to divide Republicans between their corporate benefactors, who want the debt ceiling standoff resolved with no fuss, and the Tea Partyers, who are demanding that the GOP leadership use the debt ceiling as a hostage in the push for ever more extreme and draconian spending cuts…”
This is about the tea parties and their control of the GOP. They are followers of Ron Paul, the senile old fart who doesn’t give a rip about the country, only his campaign donations. He thinks the nations’ credit rating is not worth saving.
“... fact, we wouldn’t even have to wait that long. The tea-partiers who are proud to stick to their guns are not actually tough enough to weather the television coverage of homeless families, the doctors regretfully turning away their Medicare patients, the angry constituents beating down their office doors. They’ll fold–but not until they’ve lost virtually all their capital, and have no way to get back in the game….”
These people have no comprehension about anything but their own desires. They do not live in the reality of the world. Reality is not pleasant. Reality also states that the press is in the tank for Obama.