As the haggling continues in Congress our representatives try to come to terms with a debt ceiling agreement along with trying to create a sustainable budget for the U.S., it’s clear that the Republicans are not listening to the people of the U.S. but to the wealthy, big business, agra-business, DOD, and the lobblists that dole out the cash to keep them in their quaint little offices each election cycle.
The citizens of this country have made their voices heard in polls, a small minority of them have actually banded together in protest at the capital, they’ve emailed and phoned their crack representative in Congress to try to get these hacks acting like adults and compromise with Democrats to get a deal done. To no avail.
The blame game by the GOP against President Obama and the Democrats aims at distorting the truth about the horrendous debt that spiraled out of control in the past couple of years. In fact, when Obama took office he inherited the reins of a government that George W. Bush’s administration had mismanaged so badly that in essence put America’s in finacial crisis. Bush was responsible for the financial mess by starting an unnecessary war in Iraq, decreasing revenue with unnecessary tax cuts for the rich, added to the deficit with a mismanaged and expensive Medicare presciption plan, and black box military spending at a cost of over $5 trillion. Remember when W took office the U.S government held an actual surplus. Republicans have short time memory loss as a group, one of the requirements of being one.
Republicans have blamed President Obama for excessive spending when actually the $1.44 trillion his administration spent on the stimulus package kept the unemployment rate from hitting 20%, allowed the Wall Street managers keep their spiffy jobs along with record bonuses they paid themselves in 2009, passed revenue on to some of the states to keep them above water, and other non-recurring spending programs. The one major expense in the budget was that Obama increased military spending in Afghanistan with the latest surge. The Health Reform Act did not lead to financial excesses because it is staged and will be implemented over a period of years…Republican’s don’t catch on very easily.
The GOP is already sponsoring 2012 election targeted television ads that harp on the same theme but fail to mention once again that most of the debt was created by George W.Bush and his henchmen including the fiancial meldown in 2008.
As an economist, I can read between the lines in financial, macro and micro economic babble that the media exposes to the public daily. As I listen to the media reports on the debt ceiling conflict every day and then listen to Republicans as they make more economic babble to keep the people confused and scared and prevent the government from establishing a debt ceiling and budget agreement I cringe. There are some serious consequences if the nation defaults if the debt ceiling compromise is not reached soon in spite of what Republican Tea Party hacks keep telling us.
Most professional economists would agree that the $14.3 Trillion debt our government holds is out of control. Many economists from both sides of the political spectrum would encourage the Congress to create a program that would include tax increases on the top 20% of taxpayers along with big business, streamlining entitlement programs, revise the tax code, additional cutbacks to the defense budget, decrease the actual size of government in general and find additional ways to cut costs and expenses sort of what the bipartisan Commission on the National Debt recommended last December. The Reublicans can’t remember that an actual commission existed last year.
Apparently Republicans can’t fathom the idea of compromise for the benefit of all the people, they don’t take into account lower caste of peoples in America that they dismiss altogether; rather they remain kowtowing to the upper class to protect the 20% of Americans that own 80% of the wealth and income in the U.S.
Just one example related to the tax code in America, according to an article today on CNN.com, Donna Brazilewrote, “Because of a loophole, hedge fund managers are likely to pay a lower tax reate of taxes than their secretaries. Warren Buffett, one of the world’s richest men, has spoken out about the injustice of the fact that his tax rate was less than the cleaning lady’s. Both parties agree that reform of the tax code is necessary, but one thing should be clear: As it stands, the tax system disproportionately benefits the wealthiest Americans. Passing a debt deal that exclusively cuts programs that benefit middle- and lower-income Americans will only exacerbate this difference.” This is Nirvana for Republicans.
The biggest negative that Republican’s face today, and they have so many, is the hypocrisy that plays so much in their elemental preaching, politicking, religious harping, and their impudent attitude that their poop doesn’t stink. Look back at the comments of some of Republican’s finest and remember how much you were surprised when they opened their respective mouths engaged their little brains uttering either lies, misnomers, illogical comments, bad history, popped out and how they have been spoken to by god. There’s Palin, Buchmann, George W., Cheney, Cantor, Rumsfeld, Rush, Bill O’Reilly, Sean Hannitty, ooooh, there’s so many more of them who represent the deteroirating Grand Old Party. Makes you a little sick to your stomach doesn’t it.
“The Democrats are the party of government activism, the party that says government can make you richer, smarter, taller, and get the chickweed out of your lawn. Republicans are the party that says government doesn’t work, and then get elected and prove it.” —P.J. O’Rourke, Parliament of Whores