So, we awake this morning to rumors that a "two-tiered" deal on the debt ceiling is imminent. Have we learned nothing?
Years ago, during yet another financial crisis, we learned that "tranche," that elegant, mellifluous sounding term used to describe "slices" of a debt offering, was in fact a French word that literally means "open, running sewer." How very appropriate.
We now have a new buzz word.."tier." We are to be offered a "two-tiered" solution. A wedding cake approach, if you will. Heck, why not 3 tiers, or 4, 5 or even 6. Everyone knows the bigger, the taller, the more layers, the better the cake. Unfortunately, if the cake stands upon quicksand, it will inevitably collapse.
So, Mr. Speaker, you're at your very own fork in the road. You can't take both paths.
Remember that you are Speaker today only because last November tens of millions of Americans gave you a clear, concise, and unambiguous statement as to which path, which direction they want you to take.
So, remember....remember well.
You totally blew it earlier on the CR. And then, to our happy surprise, you seemed to get it right initially on the debt crisis. Your first statement was that you would only give Obama an increase in the debt ceiling if there was an equal, or greater, hard, verifiable short term ( two years) cut in federal spending. That's it..
Stop these secret deals...3 or 4 people deciding everything behind closed doors. Any room that contains you along with Reid and Pelosi, I want to disinfect. No more of this...have it all out, an open debate in the House. Trust your caucus. The American people do, we chose them.
Are you really going to try and tell us that we now have $ 1 TRILLION in spending cuts because of the winding down of the wars in Iraq and Afghanistan? Hey, why not make Libya the 3rd tier.?After all, it was only supposed to last a few weeks.
Any promise of proposed spending cuts in the out years.(beyond two years) , is worthless. We've had mulitple debt commissions/committees and promises of the same over the years, and they've never resulted in anything concrete.
Mr. Speaker, I suspect that if you take the wrong fork, we'll soon be able to use it in another headline. As in,
Stick a fork in him, he's done....