quotable

"Once abolish God and the government becomes the God." -G.K. Chesterton
Showing posts with label The Debt March. Show all posts
Showing posts with label The Debt March. Show all posts

Wednesday, July 20, 2011

The Gang of Six: Summer's Worst Sequel



They're back! And this time they're going for broke. Call them the Dirty Half Dozen.

The Gang of Six rides again in the U.S. Senate. This is the summer sequel none of us were looking forward to, well except for maybe the damsel in distress in the Oval Office. Like any summer sequel, the script is a lightweight seven pages with huge plot holes, tired characters, and no substance. It's so full of the usual "bipartisan" schlock it's like waking up and seeing Arlen Specter back in the Senate... as a Republican. What is it about real spending cuts and no tax increases that these so-called conservatives don't get?

As the Heritage Foundation reports:

The Gang of Six circulated a plan that has Congress enact a law now whose principal elements (1) make unspecified spending cuts and unspecified tax increases to yield a $500 billion reduction in the federal deficit, and (2) impose spending caps on discretionary spending, but not on Social Security, Medicare, Medicaid and welfare programs that are the main cause of out-of-control spending. Then the Gang of Six promises — an unenforceable promise — that some time in the next six months Congress will enact a second law with all kinds of Christmas presents for everybody.

All the hard negotiation of spending is being undercut by the usual "kick-the-can-down-the-road" clan in Washington. This is winning only as Charlie Sheen defines it. I suppose when you only run for re-election every six years as senators do, you may not fully comprehend the mood of the electorate. America's hardest-working citizens have drawn a line in the sand. They have said no more empty promises, no more trillion dollar deficits, no more shady backroom deals, and no more business as usual. So typically, the Gang of Six gave us a shady backroom deal of phantom cuts they can't deliver to cover for business as usual.

Oddly enough, this budget battle hasn't even moved from the baby pool into the shallow end of what most of us would consider meaningful cuts, yet Republicans are already coming up for air. Few in Washington have suggested anything as extreme as living within the parameters of the fiscal budget of oh, say, five years ago. That budget, nearly one third smaller than this year's current projections, was considered egregious enough at the time to fire a third of Republicans in Washington. Now Democrats completely refuse to propose a budget for fear of giving drunk sailors a good name. Wow, how times have changed.

As the debt ceiling looms and credit agencies warn our government to cut back, the Democrats are unwilling to put even boondoggles like the president's proposed high speed rail on the chopping block. That's $55 billion of unnecessary spending that hasn't taken place yet, doesn't push seniors over a cliff, and can be eliminated immediately. Speaking of, what's faster than a speeding train proposed by the federal government? A bus ride that gets you from Iowa City to Chicago faster at a fraction of the price.

George W. Bush was supposed to be the big spender who drove our economy into the ground, but his average budget deficits are low enough as to be unreachable by the current administration. We have a president making more detailed plans for his 50th birthday party than producing any specifics whatsoever for halting the debt crisis as the deadline looms on August 2. Where's the beef, as they used to say, Mr. President? Probably being smoked and marinated for that August 3 blowout bash, which you too can take part in from your own home.

President Obama seems annoyed that he is being asked to clean up a crisis he shares a large responsibility in creating. As he used to say on the campaign trail, we can't afford four more years of the last eight years. Instead he has given us eight years of unaffordable spending in a mere four. Now when looked upon for a solution, he wants us to just let him eat his waffle. Even though he is asking us eat our peas.

Sadly, the Gang of Six seems to be okay with that.

Sunday, July 10, 2011

The Debt March: A Dialogue in Absurdity


Setting: Anywhere in America where Fact Robots are prevalent.


Lefty: These terrorists are out to destroy America.

Fact Robot: It's true radical Islam poses a threat to society.

Lefty: What? No, you Islamophobe. I'm talking about Republicans and the tea party.

Fact Robot: I do not understand.

Lefty: These teabaggers are holding America hostage, refusing to raise the debt ceiling.

Fact Robot: America is running $1.5 trillion dollar deficits. Why would they want to borrow more money?

Lefty: If they don't, we can't pay our obligations. There could be a financial meltdown.

Fact Robot: Isn't $15 trillion dollars in debt already a financial meltdown?

Lefty: No, you don't get it. This is domestic terrorism. The markets will crash. Investors will lose confidence. The rest of the world will see America as a banana republic.

Fact Robot: You are saying America has to go further in debt in order to show that they are fiscally responsible?

Lefty: Exactly.

Fact Robot: Let me ask the question differently. You are saying America has to approve borrowing trillions of dollars more that the government can't afford to pay back to prove that the nation is serious about getting out of debt?

Lefty: Yes.

Fact Robot: That is illogical. Didn't you also say America had to pass the stimulus to keep unemployment below eight percent?

Lefty: The stimulus was a huge success.

Fact Robot: Current unemployment is 9.2% and has reached  as high as 10%. That does not meet your own criteria for success. Do you think it would be fiscally responsible for America to pass a budget?

Lefty: Of course.

Fact Robot: But America has not passed a budget in two years and the president's budget was rejected by the Senate 97-0.

Lefty: That's because the teabagger Republicans won't agree to tax increases.

Fact Robot: I don't see what tea bags have to do with it. Last year, Democrats refused to vote for these same tax increases, which would have kicked in automatically if they had not extended the Bush tax rates.

Lefty: The Bush tax cuts only favored the rich. Republicans are the party of millionaires.

Fact Robot: Then why did Democrats and the president pass legislation to keep them from expiring?

Lefty: To help the poor.

Fact Robot: Have you ever listened to your own arguments?

Lefty: The debt wasn't as large then. Now we have to raise taxes to shore up America's finances.

Fact Robot: If the president didn't pass the stimulus, the national debt would be reduced by one trillion dollars. This is the same amount of revenue Democrats are trying to raise with proposed tax increases on millionaires who make $250,000. One might conclude from this data that the president doesn't understand basic math and the stimulus hurt the American economy.

Lefty: No. The stimulus wasn't big enough. The poor are suffering while the rich get richer and all Republicans care about is fat-cat corporations. Now if you'll excuse me, I have to attend a $35,000 a plate fundraising dinner for President Obama, paid for using stimulus dollars he kindly granted my company.