For the Republicans, its a case of Careful What You Wish For. They have their majority in the House, and a working minority in the Senate. But to get that, they drank the Tea, and that same Tea is about to do them in.
The Tea Party sees the Debt Ceiling” Crisis” as their best hope to starve the beast – to eliminate the Federal Government as a major force in our lives. They believe the Debt Ceiling is an accounting trick, and many will not vote to raise it under any circumstances. It remains unclear whether the adult wing of the GOP can secure passage of anything without them (since apparently, working with Democrats is still unthinkable).
Here’s the Radical Moderate Position on the completely self-inflicted Debt Ceiling Crisis:
You pass a clean debt ceiling bill in the middle of the night – just like they always have in the past – not because its the responsible policy thing to do, but because it prevents one party or another from turning this into a hostage situation like we have now.
Everybody – that’s everybody – knew the budget passed would require additional debt by the summer of 2011. You can be appalled, but you cannot feign surprise. They’ve had the same numbers in both houses since last November. If you haven’t affected “lasting change” by now – it’s too late.
Just raise the debt ceiling. Every alternative is actually worse now.
I know the Tea Party isn’t fond of facts clogging up their emotional catharsis about the Crushing Debt, but the chart above is derived from fairly undisputed numbers.
If you are serious about the deficit, you gotta put the Bush tax cuts on the table. Because the economy is what it is, and the wars can’t just be turned off. (Oh – and TARP actually made money – probably because it was actually cooked up by Republicans to begin with).
If the money that went into Social Security had actually stayed in Social Security, it would still be solvent.
Speaking of shameful legislative skullduggery – Mitch McConnell is right: if the Tea Party (let’s face it – they’re the problem here) torpedoes every Ceiling deal, they will be on the hook for whatever happens August 3rd and after.
The Democrats would have just raised the ceiling. You know its true.
I know none of the Tea Party Caucus read my blog, but here’s some advice anyway:
You could vote yes because its actually good for the country (at this point). Did we spend too much? Probably. But – and this is key – we already spent that money, in the sense that once you order the food from a restaurant, you still have to pay for it, whether you enjoyed the meal or not.Even if you have to borrow money from your date.
As one of our supervisors famously explained to an obstructive client, “Look. This is what it costs. At some point, you have to grow up and pay the bill.”
Or you could vote yes because you value your own stock portfolio.
OR you could vote yes because otherwise you get the blame for an economy that might otherwise sink the current President. Pinning a secondary collapse on obstructionist Republicans helped FDR get elected in 1936 with 12% unemployment; and it could help BHO do the same thing in 2012.
That’s right: a vote against the debt ceiling is – in an admittedly convoluted but foreseeable way – a vote for President Obama.
Now you know.