Wednesday, June 01, 2011

Quote of the Day, Jr.

"What we're looking for is real control of Congressional spending, not some fallacy they invent to make the electorate feel good for a temporary time."

-- Mark Meckler, co-founder of the Tea Party Patriots, firing a shot across the bow of Congressional Republicans

You knew it was going to come to this. The Huffington Post used a relationship metaphor, and I'll use one as well, only mine is a little more biting and, I think, more fitting: That horrific piece of Maury show white trash the Republican party fucked last year because it was convenient? She just called to tell them she's got a baby now, and guess who the father is. The GOP was always courting disaster when it decided to lie down with this unmanageable monster and now it's stuck having to do its bidding or risk it showing up with a shotgun at four in the morning.

What does that mean for the rest of us? Well, in this particular case it could mean financial disaster, because the Republicans are now trying to hold the debt ceiling hostage, at least partially at the whim of America's unsophisticated hick demographic -- the people who fear and demonize book learnin' and who've acquired their business savvy from that bumper sticker they saw once. I don't like Tim Geithner any more than the next guy who'd like to see half of Wall Street guillotined, but I trust him to understand global economics better than the head of the Tea Party Patriots, who admits he's a "pretty simple guy." Geithner aside, Paul Krugman says that failing to move the debt ceiling is something you don't want to risk, and him I do trust.

Bottom line: If you thought this unholy alliance between the Beltway aristocreatures and the tea baggers they always falsely believed they could easily manipulate had reached its ugliest point -- guess again.

Now that I think about it, here's a new bumper sticker idea for the next big Tea Party march on Capitol Hill:

The Tea Party: "We're not going to be ignored, John."


Riles said...

What's also insane is that it's so obvious what the GOP is doing. They are effectively holding the country hostage in order to preserve their own jobs and help out their wealthy donors. Their goddamn job is to work to make the country run, not shut it down. The tax rate is the lowest in DECADES, yet they lie to the country, purposely misguiding them for their own ends.


They fucking piss me off.

Anonymous said...

What's even more sad is that wealthy individuals and corporations in practice pay a lower tax rate than the middle class, and they constantly portray themselves as victims whenever the subject of taxes comes up.

The Bacon said...

Control that's a really fucking stupid idea. Only a one toothed yokel straight from the swamp would think that borrowing a trillion dollars per year is a bad idea. After all, what's 14.2 trillion and counting amongst friends. Certainly, we all have 40ish thousand dollars owed by every man, woman and child.

And now the fucking Democrats are being held hostage by this stupid ideology of fiscal restraint. Just this week there was a clean vote on raising the debt ceiling, and 82 of the democrats (or half the D's present) voted against it.

Chez said...

The deficit is a problem, Bacon -- but you know what's a bigger problem? People who don't have jobs and therefore can't stimulate the economy. You know who is in a position to stimulate the economy? The government. As counterintuitive as it may sound, the best way out of a recession is to basically spend your way out. We're stepping over dollars to pick up pennies by concerning ourselves with the deficit instead of worrying first about priming the economic pump.

Anonymous said...

A fair portion of the deficit is due to the Bush tax cuts that are still around. Another fair portion are due to the two countries we are occupying.

Get rid of those two Republican-started checklist items, and we are in a lot better shape.

The real elephant in the room is that we also have to eliminate social security and/or medicare, but that's political suicide.

The Bacon said...


I'm familiar with Keynes. In 2009 we had a trillion dollar stimulus package. For 2009 and 2010 we've ran back to back trillion dollar + deficits. Over the previous two years we have paid $4,000 for every piece of shit car in the country and given $8,000 to every one who bought a house. We've provided unemployment extensions beyond 99 weeks.

Markets aren't concerned right now about whether or not we will increase the debt ceiling. Of course we will...eventually. The real concern in the market...and quite frankly what should be worry #1 in everyone's the value of the dollar.

A few chapters after Keynes in your econ book you'll find chapters on hyperinflation. For case studies, you can look to the recent histories of Mexico and Argentina.

If we do not get control of our deficit, hyperinflation is a certainty.

It'll be great for me. I'm upside down in two houses and up to my eyeballs in debt from starting a business...but for the nation as a whole, the misery will be immense...much more so than living with an anemic 1.5% GDP growth and 9% unemployment.

Mart said...

I heard on the radio that when this came up in the past a ruling was made that the President could withhold federal money to individual states. Doubt Obama has the cajones; but it sure would be awesome if they go this route, Obama controlled spending by halting all federal funds to states with all R legislators. No highway money, no education, no medicaid, medicare etc. Shit would hit the fan in a hurry. Would hit them especially hard as the red states generally suck in and blue states pay out to the feds.

And Bacon, the country ain't broke. An easy way out is to go back to Reagan tax rates and cut national security/defense by $400 billion per year. Also too, improve Affordable Care Act with public option (and death panels of course).

The Bacon said...


So you want to start a back and forth war between the conservative states and the liberal ones whereby each cuts the other off from Federal dollars when they are in power?

That's brilliant!

Maybe you should take it one step further and order the military to impose a blockade on the states that vote in a manner you disagree with...that'll show em!!....oh've cut the military budget by half at a time we are involved in three overseas wars...don't see that working.

But nonetheless, we need more great thinking along those lines!!