I've been trying to make sense of this whole debt ceiling deal, but I'm failing too. I've tried to figure out what to say about it but nothing comprehensive strikes me. So I think I'll just make some bullet point style commentary:
*Republicans wanting to cut spending during a recession to balance the budget is like a family wanting to pay off the credit card by not feeding the kids. I understand that they think that the it is mostly the undeserving who are collecting from social programs but they themselves admit that there are no jobs. So why cut now?
*China has been making little pokes to undermine our currency for the last year (read previous posts). Threatening to default only helps that strategy. If international trade stop using the dollar we will be flooded with redundant currency.
*Creating a group of "super congress" with special budgetary powers is a dangerous precedent. I'm sure it will bite the Democrats in the ass.
*What leverage did the Republicans have? Their leader in the Senate said they wouldn't allow a default. There is a constitutional argument that they would have to raise the debt ceiling. We are effectively the only country in the world with a debt ceiling. What exactly was the threat?
*Why did Boehner declare vacation? You really think you deserve a break after the FUBAR you created?
I'm glad that it appears the public isn't falling for the gamesmanship. If this was just a philosophic difference the Republicans would have made their move when Bush was still in and they controlled the Senate in addition to the house. I know they are running scared of Tea Party challengers but they should have enough confidence in the fact that they made it this far not to worry about that.
No comments:
Post a Comment