The Political Folly of a viable Debate over whether or how to raise the Nation's Debt Ceiling is the latest doomsday weapon within the Republic Party. They are not tweaking the "family budget!" Tea Party members need to educate themselves in regards to a Global economy and the Apocalyptic events that will certainly follow. It is in the hands of folks like John Boehner, House Speaker of Ohio, Michele Bachmann, Rep. Minnesota, Rep. Eric Cantor, Virginia and those in right wing favored pundits of the media, FOX News (Rupert Murdach, Owner). This is "a scare tactic" of the Obama administration, an accusation Rep.Michele Bachmann implied. I would argue Ms Bachmann has it in the reverse. It is a scare tactic by the Tea Party and Eric Cantor, GOP House Minority Leader. Accounts of the meeting chaired by the President are varied but the one most plausible is that toward the end of the meeting, Rep. Cantor rudely interrupted the President three times! Imagine if that had been George W. Bush, Ronald Regan or Dick Cheney in the room? It would have been Cantor escorted from the room!
As far as Mrs. Bachmann: Wake up! China is not paying one word of attention to you as a Tea Party holder in this large stake game of Texas Hold'Em! China does not or will not listen to those in Washington to make economic choices they have already begun to implement. It is no scare tactic to them! Economic advisers in a country such as China, our biggest debtor will make decisions as to how they perceive the U.S. future in keeping its word, redeeming the billions in Bonds they hold and the strength of the Dollar as the "currency of reserve."
China is already unloading as many U.S. dollars as it can before the value sinks to a rock bottom. The ignorance of those in Congress who somehow stick to their promise to the American People to "not raise Taxes" is ludicrous!
They are not speaking to America. They speak to the top 5% of Americans that enjoy millions and billions from a middle class and poor subsidy or welfare which they do not need.
Every economist I have heard or read has said this Debt Ceiling debate is ridiculous with one going so far as to say the Tea Party Representation are idiots! They simply Do Not Get It! Former economic professionals to President Regan indicate that this debate would not even be taking place during his terms in Office. The only reason it is a huge political game now is the GOP desire to humiliate the President as he is first a Democrat and secondly, he is a Black Man! Call it what you want but it is Racism in a very underhanded way, carried out with stealth by members of a Washington group of elitists. They cover their dog do-do well.
I recall several weeks ago on Meet the Press an appearance by Alan Greenspan former head of the Federal Reserve. He was among several panel members from both the right, left and the insane tea party. He made his opening comments and then sat back in what I interpreted by his body language as sheer disgust!
Half-way through the broadcast Mr. Greenspan made his final comment. To paraphrase he said, "I do not see why it is necessary for Congress to vote on a debt ceiling as a separate issue. Whenever the Congress votes on a budget, determines spending for the next fiscal year, they have the Debt Ceiling! To then return to the issue for a vote on a debt ceiling is "like wearing suspenders while also wearing a belt."
I believe it is time for those "fat cat GOP members" who seek to grab the spotlight, defile the office of President to remove their 'spanx' and let the American people see what they constitute. It is a composite of lard, oil and greased palms from the big banks!
If there is ever a time for a national referendum on this issue is now! Tea Party and other GOP members will not retreat to some "read my lips" promise to those who elected them that they will Not Raise Taxes! To whom do they speak for? It is is the wealthiest 5% of non-taxpayers who for decades have been given these outrageous tax abatement in the name of "job creation."
Every Economist I have read or heard state that the Bush Era tax cuts to the wealthy are "useless" in every respect to our current dilemma including job creation. I would be surprised (but not shocked) if normal, hard working middle class and poor if given the opportunity would Vote for a repeal of the Tax Cuts to the Wealthy as the First Step in resolving the budget crisis!
In the "Arab Spring" ordinary citizens and students in Egypt, Tunisia, Bahrain, Libya and now Syria have successfully "Tweeted" the way toward reform by means of a human right not ever extended to them. They utilized a familiar individual right you may be familiar, "a government by the people and for the people." All factions within Congress it is time to stand up and DO what is right for 95% of the American people in spite of your own egos and meaningless campaign slogans!
"Enough is Enough!" is what the President is reported to have said when he got up and left a contentious conference room. It is something he should have done long ago. (I recall having a very similar moment when faced with blatant discrimination). Good for You, Mr. President. Let us hope we see more moments where another "Profile In Courage" emerges from the rest.
Some sources: Washington Post Comments Live, July 11, 2011 with Bruce Bartlett in the President Regan Administration (I have fair amount confidence President Josiah Bartlett (Martin Sheen of "West Wing" will concur).
New York Times article by Michael D. Shear, July 15, 2011 http://thecaucus.blogs.nytimes.com/2011/07/14/what-happened-between-cantor-and-obama/?nl=us&emc=politicsemailema1
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