Monday, January 31, 2011

We Can Turn This Recovery Around, Right Now, Young Man

I try not to read the political news but some economic/political news has filtered down to me by necessity.

I believe, if I read between the lines correctly, the Republicans are threatening to default on our national debt by not raising the debt ceiling. And Speaker of the House Boehner thinks cutting government spending will create jobs, and believes he has hundreds of economists that agree with him.

First, let's have the President publicly call the bluff and ask which hundreds of economists think cutting government jobs will increase jobs. I personally would like them on record. Which economists think that government spending did not save us from a far worse depression?

And the blackmail? When President Obama called Senator McCain's bluff during the election, Senator McCain blinked and came to the debate he had just said he would not attend. It proved the stunt was a bluff. If the Republicans want to internationally bankrupt us, it is awfully tempting to give them the rope they need and see if they use it. Take a play from their own playbook, don't give them one single concession. It is all or nothing, no need for thought, work, or compromise

Speaker Bohner seems to make things up out of the same rarefied thin air that Fox News uses, and, in this case, the Tea Party also, if I'm not mistaken. Bankruptcy by defaulting on our debt, hmmmm, perhaps that one stone would kill a whole lot of birds.