Staring Down the Schoolyard Bully
What a difference a year makes when it comes to the attitude of Republicans regarding the debt ceiling. In 2011, Republican leaders spent the incipient months of the debt ceiling fight publicly stating that they would ultimately raise the debt ceiling. They cloddishly communicated to the Democrats the reality that they would never engage in brinkmanship by declining to raise the debt ceiling after Tim | Read More »
Dr. Debthate or: How I Learned to Stop Worrying and Love Government Shutdowns
President Obama’s blindness to government spending problem, and insistence on ever more tax increases on the rich towards always moving fair share-goalposts, makes refusal of the Republican House to raise the debt ceiling an acceptable option. In the wake of the 2010 tea partier conservative epic GOP mid-term election landslide that returned control of the House of Representatives to the party, this columnist urged Republicans | Read More »
Will Obama Mint a Trillion Dollar Coin to Circumvent Debt Debate?
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss the minting of a trillion dollar coin as a potential work around of the debt limit debate, what impacts it would have on the market and if this super-coin could work in a Coke machine.
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The Debt Limit Fight and What Democrats Conveniently Ignore
To hear the pundits talk, there is an impending royal battle developing over raising the debt ceiling sometime in February. Having given in on raising taxes in the “fiscal cliff” battle, Republicans won a sort-of victory by taking off the table giving the President control over the debt limit ceiling, something he demanded through his surrogate, Tim Geitner, in negotiations. That proposal resulted in some | Read More »
You have not converted a man because you have silenced him
You have not converted a man because you have silenced him
What Republicans can’t do, can do, ought do and must do
Only President Barack Obama can cause the U.S. to default on its sovereign debt, and congressional Republicans must make this fact clear to the American people before the current debt ceiling is reached. And only by owning the definition of “default” does the minority party in control of only one house of Congress have any chance of using the debt limit debate to rein in | Read More »
Have Republicans Boxed Themselves Into a Government Shutdown?
First of all, I hope so.But have they boxed themselves in?Consider that the fiscal cliff deal is playing badly with lots of folks, not just partisan Republicans and partisan Democrats. Congress playing brinksmanship with nothing to show for it really is aggravating the American public.If both sides are going to play at brinksmanship, at some point the base of the parties and the American public | Read More »
Happy Debt Ceiling Day
It feels like yesterday when John Boehner was bragging how he got 98% of what he desired from the deal negotiated to raise the debt ceiling in August 2011. Yet just 17 months after Obama was granted a $2.1 trillion debt limit increase to preserve his reelection, we have breached the new ceiling. In just 519 days, we’ve burned through $2.1 trillion in debt, for | Read More »
Great News: 16.4 Trillion debt ceiling to be hit Dec 31
According to the math whiz that runs the Treasury Department, we will hit the debt ceiling sooner than we expected. Don’t worry though through some accounting gimmicks he can make us reach Feb. Maybe. Some how the guy who couldn’t figure out turbo tax can figure out to the day we will run out of money. Something smells fishy here. So at the same time | Read More »
We allowed this to happen now deal with it.
I have been trying to figure out what I wanted this post to say for a few days. Today it struck me as to what it was that I wanted to say. I have been reading that people think that the Conservative caucus of the Republican House screwed everything up by throwing a “Tantrum” and making sure that Plan B failed. Some people believe that | Read More »
Are We Living in the Twilight Zone?
At least Esau got a bowl of lentil soup for selling out his birthright. What will Republicans get? It’s amazing how events in politics seem to repeat themselves more often than Charlie Brown and the football. It seems like it was yesterday that we were advocating against Boehner’s trial balloon vote to raise the debt ceiling at the end of July. Back in 2011, it | Read More »
Boehner Can’t Give Away the House Fast Enough
What is worse than striking out? Grounding into a double play. Not only is Boehner prepared to raise taxes – both through capping deductions and increasing marginal rates – he is now prepared to preemptively surrender our last point of leverage in one fell swoop. The media is now reporting that Boehner offered Obama a clean 1-year debt ceiling extension as part of the deal | Read More »
“Next Time We’ll Really Stick it to Obama”
A common tactic used by someone who fears confrontation is to contrive an excuse for not battling his adversary at the present, while promising to deal harshly with him in the future. That’s how the GOP has operated with Obama in all of the budget battles over the past two years. It’s always ‘the next fight.’ There is an emerging consensus from some conservatives inside | Read More »
Raising Taxes… in Return for What?
It’s not like we haven’t been through this recently. In fact, we’ve seen this rodeo less than 18 months ago. When will Republicans learn their lesson? Republicans came to power in 2011 promising to put a stop to Obama’s addiction to spending and growing government. They pledged to cut $100 billion immediately. They had a number of opportunities to leverage their control over the budget | Read More »
Understanding the Modern Democratic Party
Franklin Roosevelt forged the modern Democratic Party in the midst of the Great Depression. Long before Rahm Emanuel spoke of “never letting a crisis go to waste,” FDR used the economic crisis of the 1930s to bludgeon the Republican Party and unite a governing coalition that made the Democratic Party the dominant political party from 1930 to the present.* In the process, FDR demonstrated that | Read More »