Are GOP Leaders Intentionally Trying To Make The Republican Party Look Stupid?

Another debt ceiling increase is coming up. I’ve pointed out that the spending was already approved by Congress, so it isn’t any real opportunity to claim the moral high ground. But it ought to be a chance to negotiate for something worthwhile. The Republican leadership has a choice. They can try some political hardball or they can quietly acquiesce. Talking Points Memo claims they are somehow picking the worst of both options at the same time. “I think for the president to ask for a clean Read more […]

Not Enough Generations Of Our Children Are Enslaved Yet, So Let’s Make It Worse

From Business Insider: “The New Debt Ceiling Deadline Is Going To Be Earlier Than We Thought.” Lew warned in the new letter that Congress will likely need to raise the debt ceiling by late February to avoid a potential default on the country’s obligations.  As part of the bill to reopen the government in mid-October, the debt limit was suspended through Feb. 7. The Treasury can use so-called “extraordinary measures” after that point to keep borrowing and paying the nation’s bills for a few Read more […]

Why Should Republicans Criticize White House For Wanting To Raise Debt Ceiling?

The Drudge Report links was in red letters, like it was a scary awful story. Here it is from Business Insider: “The New Debt Ceiling ‘Drop Dead’ Date Is Going To Be Earlier Than We Thought.” The U.S. is likely to exhaust its borrowing authority on the earlier side of what Treasury Secretary Jack Lew had estimated, he said in a letter to Congressional leaders on Wednesday.  Lew warned in the new letter that Congress will likely need to raise the debt ceiling by late February to avoid a potential Read more […]

Debt and Bubbles from Bloomberg TV

The headline says it all: “US Debt Is A Black Cloud Over Investors.” Steve Holland of The Holland Group was discussing “why we’re seeing a rally” in US markets with Angie Lau on Bloomberg Television’s “First Up.” Holland listed a lot of short term positive signs, but his outlook did not seem positive at all when he was done. Listen especially at 1:53 and following. [Click here if the video does not work below] Hearing Holland mention the debt as a reason that investors fear the US economy Read more […]

Reuters Anti-Tea-Party Meme: “Politics Hurting The Economy”

From the “correlation = causation” department: Orders for a wide range of U.S.-made capital goods plummeted in September and consumer sentiment weakened sharply in October, signs that a budget battle in Washington has held back the economy. New orders of non-military capital goods other than aircraft, an indicator of business spending plans, fell 1.1 percent last month, the Commerce Department said on Friday. That could be a sign businesses were shutting their wallets as the fiscal debate Read more […]

Why Is Ted Cruz Still Working? Doesn’t He Know His Career Is Over?

I guess some will claim that Ted Cruz “didn’t get the memo.” An interesting headline comes from the Houston Chronicle: “At home in Houston, Cruz continues fight against Obamacare.” But the Affordable Care Act is the law of the land now, just like the Fugitive Slave Act and all those other unchangeable laws of the past that we are embarrassed to mention since we have abolished them. So what can Cruz be thinking? I thought his career was over since he had alienated everyone in both houses Read more […]

Robbed Twice: “Thousands Get Health Insurance Cancellation Notices”

I missed this earlier. Naturally, the writer tries to pretend the cancellations are only one side of a positive story about Obamacare rather than a disaster: Health plans are sending hundreds of thousands of cancellation letters to people who buy their own coverage, frustrating some consumers who want to keep what they have and forcing others to buy more costly policies. The main reason insurers offer is that the policies fall short of what the Affordable Care Act requires starting Jan. 1. Most Read more […]

Finding Out What’s In It: Congress Passed Another Bill Without Reading It

I supposed if I refer to “that dam bill” someone will think I am swearing. But in this case I’m referring to the funding of a dam on the Ohio River. It was in the government budget/debt ceiling bill and not many who voted for it knew it was in there: McCain told Fox News’ Greta Van Susteren Wednesday he had “never even heard of” the project and questioned why it had been included in the bipartisan plan to end the budget crisis. “They stuck in some stuff which, of course, they couldn’t Read more […]

John Boehner Received A Standing Ovation Last Night

“So this is how liberty dies… with thunderous applause”. from elreystadesnudo on Vimeo. I got this idea from a Facebook friend. I’m sure many others thought of this. As much as I hated Episodes 1-3 as movies in the Star Wars series, the storyline is quite helpful to understanding the times. Read more […]

Who Cares If We Can’t Defund Obamacare? Deflating Obama Is Worth It

The Reuter’s story says it all: President Barack Obama said on Tuesday that stalled immigration reform would be a top priority once the fiscal crisis has been resolved. “Once that’s done, you know, the day after, I’m going to be pushing to say, call a vote on immigration reform,” he told the Los Angeles affiliate of Spanish-language television network Univision. The president’s domestic agenda has been sidetracked in his second term by one problem after another. As he coped with the revelation Read more […]

Dear China: We Agree; Let’s “De-Americanize” The United States!

The Telegraph headline blared, “World Should De-Americanise…” The looming prospect of a US default on debt prompted China to call for the world to “de-Americanise”, amid warnings of a new global recession. In China, Xinhua, the official government news agency, said that as American politicians continued to flounder over a deal to break the impasse, “it is perhaps a good time for the befuddled world to start considering building a de-Americanised world”. The jibe came as Christine Read more […]

Treasury Secretary: Raise the Debt Ceiling; It’s “Not Open to Debate”

Here we are at the debt limit again, and the new Treasury Secretary Jack Lew is urging Congress to go ahead and approve a higher limit so that Congress can continue to borrow money whenever it wants in the name of protecting America’s and the world’s economy. In a letter to Speaker Boehner, Lew stated that the issue of raising the debt limit is “not open to debate”:  “[I]ncreasing the debt limit does not increase spending or authorize new spending; rather, it simply permits the United Read more […]