Paul Revere by Cyrus Dallin, North End, Boston



Sunday, July 10, 2011


The Economist: “The Republicans are playing a cynical political game. SHAME ON THEM”

"IN THREE weeks, if there is no political deal, the American government will go into default. Not, one must pray, on its sovereign debt. But the country will have to stop paying someone: perhaps pensioners, or government suppliers, or soldiers. That would be damaging enough at a time of economic fragility. And the longer such a default went on, the greater the risk of provoking a genuine bond crisis would become.


This newspaper has a strong dislike of big government; we have long argued that the main way to right America’s finances is through spending cuts. But you cannot get there without any tax rises. In Britain, for instance, the coalition government aims to tame its deficit with a 3:1 ratio of cuts to hikes. America’s tax take is at its lowest level for decades: even Ronald Reagan raised taxes when he needed to do so.

And the closer you look, the more unprincipled the Republicans look.
Earlier this year House Republicans produced a report noting that an 85%-15% split between spending cuts and tax rises was the average for successful fiscal consolidations, according to historical evidence. The White House is offering an 83%-17% split (hardly a huge distance) and a promise that none of the revenue increase will come from higher marginal rates, only from eliminating loopholes. If the Republicans were real tax reformers, they would seize this offer.
Both parties have in recent months been guilty of fiscal recklessness. Right now, though, the blame falls clearly on the Republicans.

Independent voters should take note."


Leslie Parsley said...

I feel like a broken record, but once again, Republicans are only interested in destroying Obama and they don't give two hoots in hell if they destroy the entire country in the process.

Shaw Kenawe said...


How else to explain Boehner walking away from the deal Obama gave him?

As David Brooks noted last week. The GOP is an abnormal party being run by extremists.

A commenter on the Brooks post took issue with his calling the GOP extremist, thereby proving Brooks' point.

How else does one characterize a party that refuses to save the country from going over the economic precipice?

Even their idol, Ronald Reagan, raised taxes when the situation desperately called for it.

The current leaders of the GOP are not acting in the best interest of America.

Eric Cantor is invested in a fund that aggressively shorts American treasury bonds.

Imagine! If America defaults, Cantor gets rich!

What patriotism!

Infidel753 said...

Interesting. The Economist is a pretty conservative publication, but our Republicans haven't been a normal conservative party in the European sense for at least a decade now.

Sue said...

a GOPer was on with Candy Crowley(can't remember who) but the same ole tired talking points of why the rethugs are on the right side of this debate. They are hideous un-American assholes and I for one am so fed up I could .....well I better not say, I could be arrested :-)

Sue said...
This comment has been removed by the author.
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