There are, regrettably, plenty of prominent media voices who insist on characterizing the Republicans’ debt-ceiling crisis as a disaster brought on by “both sides.” Yes, David Gergen, I’m looking in your direction.
But for all the complaining I do about this, it’s only fair to also note those who get it right, and resist the Village’s agreed upon narrative. Here’s Time’s Joe Klein yesterday, before last night’s breakdown in the House.
[S]o, here we are. Our nation’s economy and international reputation as the world’s presiding grownup has already been badly damaged. It is a self-inflicted wound of monumental stupidity. I am usually willing to acknowledge that Democrats can be as silly, and hidebound, as Republicans-but not this time. There is zero equivalence here. The vast majority of Democrats have been more than reasonable, more than willing to accept cuts in some of their most valued programs. […]
The Republicans have been willing to concede nothing. Their stand means higher interest rates, fewer jobs created and more destroyed, a general weakening of this country’s standing in the world. Osama bin Laden, if he were still alive, could not have come up with a more clever strategy for strangling our nation.
That last line was of particular interest, because it echoes a recent point from Nick Kristof. Indeed, the NYT columnist recently argued that Republicans represent a kind of domestic threat, possibly undermining the nation’s interests from within: “[L]et’s remember not only the national security risks posed by Iran and Al Qaeda. Let’s also focus on the risks, however unintentional, from domestic zealots.”
Are Klein and Kristof suggesting Republican extremism has become dangerous? It certainly sounds like it.
This is pretty bold stuff from media establishment figures. It also suggests the “both sides” nonsense hasn’t exactly achieved universal acceptance.
By: Steve Benen, Contributing Writer, Washington Monthly, Political Animal, July 29, 2011
July 29, 2011
Posted by raemd95 |
Congress, Conservatives, Debt Ceiling, Debt Crisis, Deficits, Democracy, Democrats, Economic Recovery, Economy, Elections, GOP, Government, Government Shut Down, Ideologues, Ideology, Jobs, Lawmakers, Media, National Security, Politics, Press, Public, Public Opinion, Pundits, Republicans, Right Wing, Teaparty, Terrorism, Voters | David Gergen, Extremism, Extremists, House Republicans, Interest rates, Joe Klein, Nicholas Kristof, Radicals |
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As we teeter closer to the edge of ” Debtmageddon,” it’s worth pausing to recall the “grand bargain” between Republicans and the White House—the Deal that Almost Was.
With no increases in individual tax rates and three dollars in cuts for every new dollar in revenue, could the House have swallowed it?
It’s a question that answers itself: If House leaders are having difficulty pressing through a standalone Republican bill, a “grand bargain” never had a snowball’s chance in the Sahara.
Sensing this, a new strategy unfolded: reframe the debt ceiling debate in terms of scoring a political victory against Democrats.
This had potent visceral appeal. It won over superstar pundits like Charles Krauthammer as well as rank midlevel propagandists such as Jennifer Rubin (“the left will be demoralized”), Pete Wehner (“Obama Will Be Biggest Loser”), and Marc Thiessen (“a modest victory for Republicans, but a major defeat for Obama”).
It almost worked—and it may yet.
But think of what might have been if commonsense prevailed over politics. What if these conservative commentators had spent this energy encouraging a compromise that would have benefited the White House, yes, but also would have gored the sacred cows of the left and yielded significant debt reduction as well as a relatively smaller government?
Instead, they’re left scrambling at the eleventh hour to isolate the “suicide bombers,” who now hold all the cards. They could have been isolated weeks ago.
It would’ve necessitated compromising with Democrats, to be sure. But we’re learning—the hard way—that this was always going to require compromise with Democrats.
By: Scott Galupo, U. S. News and World Report, July 29, 2011
July 29, 2011
Posted by raemd95 |
Budget, Congress, Conservatives, Debt Ceiling, Debt Crisis, Deficits, Democracy, Democrats, Economic Recovery, Economy, GOP, Government, Government Shut Down, Ideologues, Ideology, Politics, Public Opinion, Right Wing, Teaparty | Charles Krauthammer, Default, Grand Bargain, House Freshmen, House Republicans, Jennifer Rubin, Spending Cuts, White House |
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Talk about cognitive dissonance. I went to a breakfast this morning with Alice Rivlin and lunch with Michele Bachmann. How to put this politely? If men are from Mars and women from Venus, Rivlin is from Earth, Bachmann is from Saturn. Someplace way out in the solar system and removed from reality.
Rivlin, a Democrat, is a former director of the Congressional Budget Office, former director of the Office of Management and Budget, and former vice chairman of the Federal Reserve. She is, in short, a Very Serious Person and, like every serious person around, finds herself somewhere between disbelieving and aghast at the current crisis over raising the debt ceiling.
“Putting a limit on the debt and saying, ‘Hey, we made these decisions but we didn’t really mean it, we’re not going to pay our bills,’ is just an unthinkable thing to do,” Rivlin said at an event sponsored by Atlantic Media.
“This is outrageous, folks,” she told interviewer Linda Douglass. “The greatest democracy, oldest democracy in the world should not be behaving this way.…It’s embarrassing for us to have a government that is so dysfunctional and that has created this artificial crisis.”
And the consequences could be catastrophic. “Suppose the world has decided that [debt ceiling crisis] might happen again and this democracy isn’t quite as solid or thoughtful as we thought it was, so we not going to stop lending to the United States but we’re going to charge more interest. As the interest bill goes up, two things happen. One is it’s must more expensive for the government to carry this large debt….But more seriously it means that everybody’s interest payment goes up….So we would be paying more on our mortgage, more on our car loans, more on our credit cards, more for business loans and that’s not good for the economy.
It takes nothing away from Rivlin’s considerable intelligence and insight to say that she is expressing the conventional wisdom.
Fast forward a few hours to Bachmann, a congresswoman from Minnesota and Republican presidential candidate, addressing the National Press Club. Bachmann’s position is two-fold:
First, the debt ceiling should not be raised, under any circumstances. No deal could be good enough, Bachmann said, to induce her to do so. “I won’t raise taxes. I will reduce spending and I won’t vote to raise the debt ceiling,” she said. “And I have the titanium spine to see it through.”
Second, the United States will not default. “I want to state unequivocally I think for the world as well as the markets as well as for the American people, I have no doubt that we will not lose the full faith and credit of the United States,” Bachmann said.
Huh? Bachmann accused President Obama of employing “scare tactics” in warning of “catastrophic results for our economy.” But what do she and others in the titanium spine caucus think is going to happen when the United States can’t pay its bills?
Sure, Treasury Secretary Tim Geithner could manage to pay off bondholders. But as Rivlin and others explained, it won’t be too long before the checks due exceed the amount in the coffers.
An analysis by former George W. Bush administration Treasury official Jay Powell by the Bipartisan Policy Center shows that if the administration prioritizes payments to bondholders, Social Security recipients, Medicare and Medicaid providers, defense contractors and unemployment benefits (total $172.7 billion for the month) then it wouldn’t be able to pay another $134 billion worth of bills, including military active duty pay, veterans affairs programs, federal salaries and benefits, food stamps and Pell grants. You can shift around the numbers all you want but the bottom line is that refusing to increase the debt ceiling is not a sustainable option.
Bachman said that “saying no” to an increase in the debt ceiling would be “saying yes to job creation and to the next generation.” Up is down in Bachmann-world. The credit rating agencies are already threatening a downgrade. The grave implications of that are clear, for jobs now and stretching into the next generation with the hangover of higher interest rates.
Bachmann spent a lot of time invoking Ronald Reagan, so here’s one from the Gipper back at her. “The full consequences of a default—or even the serious prospect of default—by the Untied States are impossible to predict and awesome to contemplate,” he wrote to then-Senate Majority Leader Howard Baker in November 1983. “Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and the value of the dollar in exchange markets. The nation can ill afford to allow such a result.”
By: Ruth Marcus, The Washington Post, July 28, 2011
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July 29, 2011
Posted by raemd95 |
Budget, Conservatives, Consumer Credit, Consumers, Debt Ceiling, Debt Crisis, Deficits, Democracy, Economic Recovery, Economy, GOP, Government, Government Shut Down, Ideologues, Ideology, Jobs, Medicaid, Medicare, Politics, Public, Republicans, Right Wing, Social Security, Taxes, Teaparty | Alice Rivlin, Aliens, CBO, Credit Ratings, Debt, Default, Interest rates, Markets, Military, Mortgages, Rep Michele Bachmann, Ronald Reagan, Spending Cuts, Treasury |
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I found a lot to disagree with in Thomas Friedman’s column today, but his criticism of the Republican Party’s base rings true.
The Tea Party … is so lacking in any aspiration for American greatness, so dominated by the narrowest visions for our country and so ignorant of the fact that it was not tax cuts that made America great but our unique public-private partnerships across the generations. If sane Republicans do not stand up to this Hezbollah faction in their midst, the Tea Party will take the G.O.P. on a suicide mission.
This strikes me as fair, and it got me thinking about a question a friend of mine asked me the other day: where are the “sane Republicans” willing to “stand up to this Hezbollah faction in their midst”? Where are Bob Dole and John Warner? Why can’t John Danforth and Colin Powell express their disapproval for what their party is doing? Maybe some of Reagan’s old guard, like Ken Duberstein, could speak up?
The party is not without elder statesmen and women. They couldn’t possibly see their party’s antics on Capitol Hill and feel a sense of pride. Maybe it’s time they say so?
A regular reader recently passed along this item from Robert Prather, published a week ago on the center-right Outside the Beltway blog, about his sense of what’s become of the GOP.
I’ve been moving to the left for a few years now, but these idiots are radicalizing me. I’ve never voted for a Democrat in my life (full disclosure: I didn’t vote the last two elections due to moving), but I doubt I’ll ever vote for a Republican again. They’re either stupid or evil, but either way they’re dangerous and bad for the country.
I don’t know much about Prather’s political background, and maybe he’s an anomaly. But shouldn’t there be a legion of Republicans — former office holders, party loyalists, life-long members, all of the above — who are sympathetic to this perspective?
We’re not talking about GOP officials taking a hard line on some random piece of legislation, or nominating some radical for a key public office. We’re talking about congressional Republicans who’ve decided to play a game of chicken with the full faith and credit of the United States — something no American institution has ever done in more than two centuries — and who are fully prepared to trash the constitutional principle next week as part of a hostage strategy gone horribly awry?
Are there no noteworthy Republicans watching this, willing to say, “My party is simply going too far”?
By: Steve Benen, Contributing Writer, Washington Monthly Political Animal, July 27, 2011
July 28, 2011
Posted by raemd95 |
Class Warfare, Congress, Conservatives, Constitution, Debt Ceiling, Debt Crisis, Democracy, Democrats, Dictators, Disasters, Economic Recovery, Economy, GOP, Government, Government Shut Down, Ideologues, Ideology, Lawmakers, Politics, Public, Republicans, Right Wing, Teaparty | Capitol Hill, Hezbollah, Ken Duberstein, Politicians, Robert Prather, Sec Colon Powell, Sen Bob Dole, Sen John Danforth, Sen John Warner, Tax cuts |
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The run-up to the vote expected Thursday on House Speaker John A. Boehner’s proposal to provide a short-term increase in the national debt limit is quickly turning into a time of clarity for the chamber’s Republicans.
If GOP leaders are unable to muster enough support to get the plan out of the House, the only measure left would be a Democratic proposal by Senate Majority Leader Harry M. Reid (D-Nev.), and voting with Reid is not a concession many House Republicans are willing to make.
“There’s only three choices,” said Rep. Steve LaTourette (R-Ohio), a close Boehner ally. “One is to vote for Senator Reid’s plan. One is to default. And one choice is the Boehner bill. It should be pretty self-evident what the best choice is to someone who’s a Republican.”
Increasingly, the vote on Boehner’s proposal is shaping up not as a test of wills between moderates and conservatives, but as a face-off between political purists who scorn the bill and realists who prefer it to the alternative.
“We came here to reduce the size of government and reduce spending, and this bill, I think, begins to accomplish that goal,” said Rep. Sean P. Duffy (R-Wis.), who decided Wednesday that he will vote for the measure. “It’s by no means perfect. But it’s the best bill we have.”
At a closed-door meeting for House Republicans on Wednesday, where leaders tried to rally support for the measure, House Budget Committee Chairman Paul Ryan (Wis.) read from a blog post by conservative commentator Bill Kristol. “To vote against Boehner is to choose to support Barack Obama,” Kristol wrote.
But it is not an easy sale for a party that won back control of the House last year on promises to vote without regard to political consequences.
Boehner’s bill would postpone major entitlement reform and other deep cuts by passing such decisions to a new committee that would report its recommendations by year’s end. The proposal also would not require Congress to pass a balanced-budget amendment to the Constitution, but only that it vote on one.
Some Republicans have vowed that they will not raise the debt ceiling under any circumstances.
Others preferred a conservative bill dubbed “cut, cap and balance” that passed the House this month but was killed in the Senate. It would have required Congress to vote to send the amendment to the states for ratification.
“The credit rating agencies have been clear that no matter what happens with the debt limit, the U.S. will lose its AAA credit rating unless we produce a credible plan to reduce the debt by trillions of dollars,” said Rep. Jim Jordan (Ohio), chairman of the Republican Study Committee. The group comprises more than 170 House conservatives. “Cut, cap and balance is the only plan on the table that meets this standard,” he said.
House leaders expressed cautious optimism Wednesday that they were convincing members that the plan advanced by Boehner (R-Ohio) is the best that Republicans can hope to get.
It would avert a government default, take a bite out of the deficit and require Congress to adopt $1.8 trillion in additional cuts before the debt ceiling could be raised again next year.
Freshman Rep. Michael Grimm (R-N.Y.), whose district in Staten Island and Brooklyn is home to many Wall Street professionals, said he decided Wednesday that he will vote for the bill after he was convinced that its failure would hand Democrats control of the debate.
“I don’t think it’s perfect. I don’t think it’s close to perfect. I don’t think it’s in the realm of what I expected to get,” he said.
But, Grimm said, it would require deep spending reductions over the coming years. “That’s historic. And that’s a step in the right direction.”
The public infighting has served to rally some Republicans. Behind closed doors, members erupted Wednesday over an e-mail that a staff member of Jordan’s Republican Study Committee sent to outside conservative groups. It listed undecided members who could be pressured to vote against the Boehner plan.
“I think it’s offensive when a group that you’re a part of uses your bullets to shoot you,” said Rep. Bill Flores (Tex.). “So I have a problem with it.”
Those entreaties did not quiet conservatives who are urging that the plan be abandoned: On Wednesday, the head of the group Tea Party Nation accused Boehner of surrendering to Washington’s status quo and called for him to be replaced.
The House proposal was panned at a small rally held at the Capitol by the Tea Party Express and the American Grassroots Coalition. The GOP that rode tea party energy and activism is hoping that some of it members can look past that relationship.
“Some people are new here and this is part of the learning curve,” LaTourette said. “At times you have to say ‘no’ to people you represent who are yelling at you, if you’ve reached the conclusion that it’s in the best interests of the country.”
By: Rosalind Helderman and Felicia Sonmez with Contribution by David Fahrenthold, The Washington Post Politics, July 27, 2011
July 28, 2011
Posted by raemd95 |
Budget, Congress, Conservatives, Debt Ceiling, Deficits, Democrats, Economic Recovery, Economy, Elections, GOP, Government Shut Down, Ideology, Lawmakers, Politics, Republicans, Revolution, Right Wing, Teaparty, Voters | Balanced Budget Amendment, Bill Kristol, Cap and Balance, Credit Ratings, Cut, Default, Purists, Realists, Rep Bill Flores, Rep Jim Jordan, Rep John Boehnar, Rep Michael Grimm, Rep Paul Ryan, Rep Sean Duffy, Rep Steve LaToutette, Sen Harry Reid, Spending Cuts, Super Congress, Teaparty Express, Teaparty Nation, Wall Street |
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