As we draw closer to August 2, the drop-dead date by which the nation’s debt ceiling must be raised or the U.S. will risk economic calamity by defaulting on its obligations, Republicans continue to play political games with the economy. Last night, House Republicans staged a political stunt by bringing a $2.4 trillion increase in the nation’s borrowing limit that was not paired with any spending cuts up for a vote. Republicans designed the measure to fail (as it did, with the Democratic leadership also calling for a ‘no’ vote in protest) to try and gain political leverage over President Obama and the Democrats in the ongoing budget negotiations being led by Vice President Biden. Also tucked into this measure was poison pill language blaming President Obama for the nation’s fiscal woes. Since the GOP continues to have collective amnesia about how we got into this mess in the first place, here’s a handy chart from the Center on Budget and Policy Priorities (CBPP):This shouldn't be news to anyone that pays attention. The Federal Government can not keep giving tax cuts, tax loopholes and the like to anyone without expecting the shit to hit the fan when the bill comes due.
As our friends at CBPP note, “without the economic downturn and the fiscal policies of the [Bush] Administration, the budget would be roughly in balance over the next decade.”
The fact that for eight years, The Shrub borrowed from China to finance his forever wars, which are now Obama's forever wars, plays a huge part in our federal debt..fucking huge as a matter of fact.
And yet, the R's are demanding more tax breaks for the uber-rich, continuing the subsidies for Big Oil but cutting programs that help the poor, elderly and unemployed among other things before they will allow the debt ceiling to be raised. Raising everyone's taxes by just a few percentage points, ending the AG and Big Oil subsidies and getting rid of tax loopholes for the Corporatocracy would end this fuckery...but no..that is too sensible for the R's and the Blue Dogs.
Creating jobs would help a helluva lot as well....but the R's would rather concentrate on ending the ability for women to get abortions...that has been their main fucking goal since this congress started. Fuck jobs..lets use big government tactics to get into the womb and doctor's office of every woman of conceiving age.
Isn't hostage-taking a move the terrorists use to get what they want? I thought so...
